Gulf Resources (NASDAQ:GURE) Announces Conference Call to Discuss Historic Decision of Aligning Shareholders’ Interests with that of Management
November 08 2021 - 8:30AM
Gulf Resources, Inc. (Nasdaq: GURE) ("Gulf Resources", "we," or the
"Company"), a leading manufacturer of bromine, crude salt and
specialty chemical products in China, today announced a conference
call to discuss the new compensation program initiated by the
Company to align the interests of its Chairman and senior
management with that of its shareholders.
For several years, the Company has been dissatisfied with its
financial performance and with its inability to take cash from
China to pay dividends and buy back shares. It has been seeking a
way of attempting to align the interests of its shareholders with
that of its management.
The Company has created a new compensation program, that
includes:
- The Chairman and top three executives repay most or all of
their cash compensation earned during the past approximately 11 ½
years.
- The Chairman and CEO receive no cash compensation.
- The COO and CFO have their cash compensation reduced by
approximately 82%.
- In exchange, the top executives, but not the Chairman, would
receive shares of stock.
By repaying most or all of their cash compensation for the past
approximately 11 ½ years and reducing or eliminating their current
cash compensation, senior management will only do well if the price
of the shares of Gulf Resources does well.
Conference Call
Gulf Resources management will host a conference call on
Wednesday, November 10, 2021 at 08:00 AM Eastern Time to discuss
this new compensation program.
Mr. Xiaobin Liu, the CEO and Mr. Min Li, the CFO, of Gulf
Resources, will be hosting the call. The Company's management team
will be available for investor questions following the prepared
remarks.
To participate in this live conference call, please dial +1
(888) 506-0062 five to ten minutes prior to the scheduled
conference call time. International callers should dial +1 (973)
528-0011.The Entry Code is 692204.
The webcasting is also available then, just simply click on the
link below:
http://www.gulfresourcesinc.com/news-28.html
A replay of the conference call will be available two hours
after the call's completion during 11/10/2021 11:00 AM ET - 11/15
/2021 11:00 AM ET. To access the replay, call +1 (877) 481-4010.
International callers should call +1 (919) 882-2331. The Replay
Passcode is 43632.
About Gulf Resources, Inc.Gulf Resources, Inc. operates through
three wholly-owned subsidiaries, Shouguang City Haoyuan Chemical
Company Limited ("SCHC"), ShouguangYuxin Chemical Industry Co.,
Limited ("SYCI"), and Daying County Haoyuan Chemical Company
Limited (“DCHC”). The Company believes that it is one of the
largest producers of bromine in China. Elemental Bromine is used to
manufacture a wide variety of compounds utilized in industry and
agriculture. Through SYCI, the Company manufactures chemical
products utilized in a variety of applications, including oil and
gas field explorations and papermaking chemical agents, and
materials for human and animal antibiotics. DCHC was established to
further explore and develop natural gas and brine resources
(including bromine and crude salt) in China. For more information,
visit http://www.gulfresourcesinc.com.
Forward-Looking Statements
Certain statements in this news release contain forward-looking
information about Gulf Resources and its subsidiaries business and
products within the meaning of Rule 175 under the Securities Act of
1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and
are subject to the safe harbor created by those rules. The actual
results may differ materially depending on a number of risk factors
including, but not limited to, the general economic and business
conditions in the PRC, the risks associated with the ongoing impact
of COVID-19 pandemic, uncertainties associated with obtaining
governmental approvals, future product development and production
capabilities, shipments to end customers, market acceptance of new
and existing products, additional competition from existing and new
competitors for bromine and other oilfield and power production
chemicals, changes in technology, the ability to make future
bromine asset purchases, and various other factors beyond its
control. All forward-looking statements are expressly qualified in
their entirety by this Cautionary Statement and the risks factors
detailed in the Company's reports filed with the Securities and
Exchange Commission. Gulf Resources undertakes no duty to revise or
update any forward-looking statements to reflect events or
circumstances after the date of this release.
CONTACT: Gulf Resources, Inc.
Web: |
http://www.gulfresourcesinc.com |
|
Director of Investor
Relations |
|
Helen Xu (Haiyan Xu) |
|
beishengrong@vip.163.com |
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