East West Petroleum Shareholders Approve Capital Reduction and All Other Matters at the Annual and Special Meeting
East West Petroleum (TSXV: EW) announced the results of its Annual and Special Meeting, where shareholders approved a significant capital reduction initiative. The company's stated capital will be reduced by up to $3 million from the current $37,224,841, enabling a distribution of $0.03 per common share to shareholders.
Shareholders re-elected Nick DeMare, Mark T. Brown, and Kevin William Haney to the board, while also approving the company's stock option plan allowing grants up to 10% of outstanding shares. Following the meeting, Nick DeMare was appointed as Interim CEO and Corporate Secretary, with Harvey Lim becoming Interim CFO.
East West Petroleum (TSXV: EW) ha comunicato i risultati della sua Assemblea Annuale e Straordinaria, durante la quale gli azionisti hanno approvato una significativa riduzione del capitale sociale. Il capitale dichiarato sarà ridotto di fino a $3 milioni dall'attuale $37.224.841, permettendo la distribuzione di $0,03 per azione ordinaria agli azionisti.
Gli azionisti hanno rieletto Nick DeMare, Mark T. Brown e Kevin William Haney nel consiglio di amministrazione e hanno approvato il piano di stock option della società, che consente l'assegnazione fino al 10% delle azioni in circolazione. Dopo l'assemblea, Nick DeMare è stato nominato Amministratore Delegato ad interim e Segretario societario, mentre Harvey Lim è diventato Direttore Finanziario ad interim.
East West Petroleum (TSXV: EW) anunció los resultados de su Junta Anual y Extraordinaria, en la que los accionistas aprobaron una importante reducción de capital. El capital declarado se reducirá hasta en $3 millones desde los actuales $37,224,841, lo que permitirá una distribución de $0.03 por acción ordinaria a los accionistas.
Los accionistas reeligieron a Nick DeMare, Mark T. Brown y Kevin William Haney para el consejo de administración y aprobaron el plan de opciones sobre acciones de la compañía, que permite adjudicaciones de hasta el 10% de las acciones en circulación. Tras la junta, Nick DeMare fue nombrado CEO interino y Secretario Corporativo, y Harvey Lim asumió como CFO interino.
East West Petroleum (TSXV: EW)는 연례 및 임시 주주총회 결과를 발표했으며, 주주들은 중대한 자본 감소안을 승인했습니다. 기명자본은 기존 $37,224,841에서 최대 $3백만까지 축소되어 보통주 1주당 $0.03를 주주에게 분배할 수 있게 됩니다.
주주들은 닉 드메어(Nick DeMare), 마크 T. 브라운(Mark T. Brown), 케빈 윌리엄 헤니(Kevin William Haney)를 이사회에 재선임했으며, 유통 주식의 최대 10%까지 부여할 수 있는 주식매수선택권 계획도 승인했습니다. 회의 후 닉 드메어가 임시 CEO 겸 법무담당 비서로 임명되었고, 하비 림(Harvey Lim)이 임시 CFO가 되었습니다.
East West Petroleum (TSXV: EW) a annoncé les résultats de son assemblée annuelle et extraordinaire, au cours de laquelle les actionnaires ont approuvé une réduction significative du capital. Le capital déclaré sera réduit jusqu'à 3 millions $ à partir de 37 224 841 $, permettant une distribution de 0,03 $ par action ordinaire aux actionnaires.
Les actionnaires ont réélu Nick DeMare, Mark T. Brown et Kevin William Haney au conseil d'administration et ont approuvé le régime d'options d'achat d'actions de la société, autorisant des attributions pouvant atteindre 10 % des actions en circulation. À la suite de l'assemblée, Nick DeMare a été nommé PDG par intérim et secrétaire corporatif, et Harvey Lim est devenu directeur financier par intérim.
East West Petroleum (TSXV: EW) gab die Ergebnisse seiner jährlichen und außerordentlichen Hauptversammlung bekannt, bei der die Aktionäre einer erheblichen Kapitalherabsetzung zustimmten. Das erklärte Kapital wird um bis zu $3 Millionen von aktuell $37.224.841 reduziert, wodurch eine Ausschüttung von $0,03 je Stammaktie an die Aktionäre ermöglicht wird.
Die Aktionäre wählten Nick DeMare, Mark T. Brown und Kevin William Haney erneut in den Verwaltungsrat und genehmigten den Optionsplan des Unternehmens, der Zuteilungen von bis zu 10% der ausstehenden Aktien erlaubt. Nach der Versammlung wurde Nick DeMare zum Interims-CEO und Unternehmenssekretär bestellt, während Harvey Lim zum Interims-CFO ernannt wurde.
- Capital return of $0.03 per share to be distributed to shareholders
- Shareholders approved 10% stock option plan providing flexibility for future incentives
- Successful board restructuring with key leadership appointments completed
- Reduction in stated capital by $3 million could impact company's financial flexibility
- Change in leadership structure with interim appointments indicates transitional period
Vancouver, British Columbia--(Newsfile Corp. - September 5, 2025) - East West Petroleum Corp. (TSXV: EW) ("East West" or the "Company") is pleased to announce that at the Annual and Special Meeting of Shareholders of the Company (the "Meeting") held on September 5, 2025, the shareholders re-elected Nick DeMare, Mark T. Brown and Kevin William Haney to the board of directors (the "Board"). Giacomo Grassi did not stand for re-election at the Meeting.
The shareholders passed all resolutions including (i) an ordinary resolution to ratify the Company's existing stock option plan, pursuant to which the Company may grant stock options up to
The Company will issue a further news release once the effective date for the Capital Reduction and the Distribution is finalized.
Further details in respect of the Capital Reduction and Distribution are available in the management information circular of the Company in respect of the Meeting held on September 5, 2025, a copy of which is available free of charge under the Company's profile at the Canadian Securities Administrators' website at www.sedarplus.ca.
Following the Meeting, the Board appointed Nick DeMare as Interim CEO and Corporate Secretary of the Company and Harvey Lim as Interim CFO. Messrs. DeMare, Brown, and Haney were appointed to the audit committee.
On Behalf of the Board
"Nick DeMare"
Nick DeMare,
Director & Interim CEO
1305 - 1090 West Georgia Street, Vancouver, BC, Canada, V6E 3V7
Tel: 604.685.9316 | Fax: 604.683.1585
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/265368
FAQ
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