Century Announces Results of 2018 Shareholder Meeting
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN
THE UNITED STATES OR TO U.S. NEWS AGENCIES
TORONTO, Sept. 20, 2018 (GLOBE NEWSWIRE) -- Century Global Commodities Corporation (“Century” or the “Company”) is pleased to announce the results of the 2018 Annual General Meeting of shareholders that was held on September 19, 2018 in Hong Kong, China.
The Company is pleased to report that, as in prior years, a very high shareholder response was achieved, with 88.354% of Century’s outstanding shares having been voted at the meeting. At that meeting, the shareholders:
- set the size of the Board of Directors at eight members;
- re-elected the Board of Directors; and
- re-appointed of PricewaterhouseCoopers LLP as the Company’s auditor for the upcoming year.
Confirming the Size of the Board of Directors
The shareholders of Century confirmed that the size of the Board of Directors should remain at eight directors. The voting results on this matter were as follows:
| Setting the Number of Directors at 8 | ||
| FOR | 87,024,318 | 99.994% |
| AGAINST | 5,650 | 0.006% |
| ABSTAINED | 0 | 0.000% |
Director Elections
Century is pleased to announce that its shareholders accepted management’s recommendation and re-elected the Board with the overwhelming support of shareholders. The voting results on the election of directors were as follows:
| Election of Directors | |||||||||
| Director | FOR | AGAINST | ABSTAINED | ||||||
| Sandy Chim | 86,902,287 | 99.853 | % | 127,681 | 0.147 | % | 0 | 0.000 | % |
| Ben Koon (David) Wong | 86,894,287 | 99.844 | % | 135,681 | 0.156 | % | 0 | 0.000 | % |
| Hua Bai | 86,894,287 | 99.844 | % | 135,681 | 0.156 | % | 0 | 0.000 | % |
| Howard Bernier | 87,024,318 | 99.994 | % | 5,650 | 0.006 | % | 0 | 0.000 | % |
| Caifa Xu | 86,894,287 | 99.844 | % | 135,681 | 0.156 | % | 0 | 0.000 | % |
| Xin Ting (Tony) Wang | 86,894,287 | 99.844 | % | 135,681 | 0.156 | % | 0 | 0.000 | % |
| Jiong Hui Wang | 86,894,287 | 99.844 | % | 135,681 | 0.156 | % | 0 | 0.000 | % |
| Kit Ying (Karen) Lee | 87,029,418 | 99.999 | % | 550 | 0.001 | % | 0 | 0.000 | % |
All candidates served on the Board prior to the meeting.
Auditor Appointment
At the meeting, the shareholders also re-appointed PricewaterhouseCoopers LLP as auditor of the Company. The voting results on this matter were as follows:
| Appointment of Auditors | ||
| FOR | 87,032,918 | 100.000% |
| AGAINST | 50 | 0.000%* |
| ABSTAINED | 100 | 0.000%* |
* % results rounded to 0.000%.
About Century
Century Global Commodities Corporation (TSX:CNT) is building shareholder value through existing and entrepreneurial business units that meet continuing and growing demand from China, the largest market in human history.
Iron Ore
With Baowu and Minmetals, both Global Fortune 500 companies, as Chinese strategic partners, Century owns one of the largest iron ore mineral resource bases in the world, across five projects in Quebec and Newfoundland and Labrador. Joyce Lake, a direct shipping ore ("DSO") project in Newfoundland and Labrador, is our most advanced project. It has completed feasibility and permitting studies and can be brought to production within approximately 30 months. We are maintaining our properties ready for a return to sustained higher iron ore prices.
Base and Precious Metals Investment
Century is monitoring investment and acquisition opportunities in the non-ferrous metals sector. When the right opportunity presents itself, our strong balance sheet will allow us to invest or acquire cost effective assets during the low base and precious metal price cycle, positioning ourselves for gains when the market improves.
Quality Food Services
Quality food products sourced from advanced countries are in great demand from the quickly-growing middle class in China. The emphasis is on the need for safe, high-quality food products. Century has established a professional marketing team and built a distribution system to serve Hong Kong and eventually throughout China. With a successful local partner, Century is now operating small pilot restaurant stores in Wuhan (with a population of over 10 million) and in Chongqing (with a population of over 30 million).
Century’s website is www.centuryglobal.ca.
For further information please contact:
Sandy Chim, President & CEO
Century Global Commodities Corporation
416-977-3188
IR@centuryglobal.ca
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
THIS PRESS RELEASE CONTAINS “FORWARD-LOOKING INFORMATION” WITHIN THE MEANING OF CANADIAN SECURITIES LEGISLATION. THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF CENTURY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. FORWARD-LOOKING INFORMATION INCLUDES INFORMATION THAT RELATES TO, AMONG OTHER THINGS, CENTURY’S PLANNED SPIN-OUT OF CENTURY METALS AND THE PROCEEDS TO BE RAISED UNDER THE SPECIAL WARRANT PRIVATE PLACEMENT. FORWARD-LOOKING INFORMATION IS BASED ON, AMONG OTHER THINGS, OPINIONS, ASSUMPTIONS, ESTIMATES AND ANALYSES THAT, WHILE CONSIDERED REASONABLE BY CENTURY AT THE DATE THE FORWARD-LOOKING INFORMATION IS PROVIDED, ARE INHERENTLY SUBJECT TO SIGNIFICANT RISKS, UNCERTAINTIES, CONTINGENCIES AND OTHER FACTORS THAT MAY CAUSE ACTUAL RESULTS AND EVENTS TO BE MATERIALLY DIFFERENT FROM THOSE EXPRESSED OR IMPLIED BY THE FORWARD-LOOKING INFORMATION. THE RISKS, UNCERTAINTIES, CONTINGENCIES AND OTHER FACTORS THAT MAY CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE EXPRESSED OR IMPLIED BY THE FORWARD-LOOKING INFORMATION MAY INCLUDE, BUT ARE NOT LIMITED TO, RISKS GENERALLY ASSOCIATED WITH CENTURY’S BUSINESS, AS DESCRIBED IN CENTURY’S ANNUAL INFORMATION FORM FOR THE YEAR ENDED MARCH 31, 2018. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE CENTURY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
