Sky Solar Announces Change of Independent Director and Formation of Independent Committee to Investigate Conduct of Former CE...
June 16 2017 - 8:26AM
Sky Solar Holdings, Ltd. (NASDAQ:SKYS) (“Sky Solar” or “the
Company”), a global developer, owner and operator of solar parks,
announced that Mr. Glen Wei resigned as an independent
director of the Company effective as of June 14, 2017. Following
the resignation, Mr. Xuelong Pei was appointed as an independent
director of the Company effective as of June 15, 2017. Mr.
Pei is also appointed to serve on the audit committee, compensation
committee and nominating and corporate governance committee of the
Board.
Mr. Xuelong Pei has served as the Chief Executive
Officer at Ganshang Corporation, General Manager at Jiangxi
Electronic Group Corporation Ltd., and the head of legal department
at Shanghai Juneyao (Group) Co., Ltd. Mr. Pei has also served
as a director at Shanghai Huarui Bank Co., Ltd. Mr. Pei
received his bachelor degree of law from Renmin University of China
and his master degree of law from East China University of
Political Science and Law. Mr. Pei is a panel arbitrator at
Shanghai International Arbitration Center and Shanghai Arbitration
Center.
In addition, following the recommendation of the Management
Committee, the Company established an independent committee on June
15, 2017 to investigate the conduct of former Chief Executive
Officer Mr. Weili Su involving certain transactions and fund
transfers which appear to lack proper board and audit committee
authorization. The independent committee consists solely of
independent directors of the Company, namely Messrs. Qiang Zhan and
Xuelong Pei, and is chaired by Mr. Qiang Zhan. The
independent committee is authorized to retain outside counsel and
advisors to conduct the investigation.
About Sky Solar Holdings, Ltd.
Sky Solar is a global independent power producer (“IPP”) that
develops, owns, and operates solar parks and generates revenue
primarily by selling electricity. Since its inception, Sky Solar
has focused on the downstream solar market and has developed
projects in Asia, South America, Europe, North America and Africa.
The Company's broad geographic reach and established presence
across key solar markets are significant differentiators that
provide global opportunities and mitigate country-specific risks.
Sky Solar aims to establish operations in select geographies with
highly attractive solar radiation, regulatory environments, power
pricing, land availability, financial access and overall power
market trends. As a result of its focus on the downstream
photovoltaic segment, Sky Solar is technology agnostic and is able
to customize its solar parks based on local environmental and
regulatory requirements. As of December 31, 2016, the Company had
developed 307 solar parks with an aggregate capacity of 292.3 MW
and owned and operated 159.6 MW of solar parks.
For investor and media inquiries, please contact:
Sky Solar:
IR@skysolarholding.com
SKYS Investor Relations:
The Blueshirt Group
US or Mandarin
Ralph Fong
+1 (415) 489-2195
ralph@blueshirtgroup.com
China
Gary Dvorchak, CFA
+86 (138) 1079-1480
gary@blueshirtgroup.com
Sky Solar (NASDAQ:SKYS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Sky Solar (NASDAQ:SKYS)
Historical Stock Chart
From Apr 2023 to Apr 2024