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Article: Shanghai Petrochemical Company Limited Announces Resolutions Passed At The 1997 Annual General Meeting ('AGM')
- Article from:
- PR Newswire
- Article date:
- June 25, 1998
CopyrightCOPYRIGHT 1998 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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HONG KONG, June 25 /PRNewswire/ -- Shanghai Petrochemical Company Limited (the "Company") (NYSE: SHI; Hong Kong SE: 338) held its AGM for the year of 1997 in Shanghai, the PRC today.
During the AGM, the shareholders approved the 1997 reports of the Board of Directors and Supervisory Committee, the 1997 audited statement of accounts, the 1997 dividend distribution plan, the re-appointment of KPMG Peat Marwick Huazhen and KPMG Peat Marwick as the Company's PRC and international auditors respectively for the year 1998.
The Company's total profit available for distribution was RMB777,708,000, of which 10% will be allocated to the statutory surplus reserve and 10% ...