Sunshine Oilsands Ltd. Announces Poll Results of the Annual General Meeting of Shareholders Held on June 24, 2015 (Hong Kong Time) and June 23, 2015 (Calgary Time)

HONG KONG and CALGARY, Alberta, June 24, 2015 /CNW/ -- Reference is made to the notice of the annual general meeting of shareholders (the "Meeting") of Sunshine Oilsands Ltd. (the "Corporation" HKEX: 2012; TSX: SUO) dated May 19, 2015 (the "Notice") and the supplemental notice of annual general meeting of Shareholders of the Corporation dated June 7, 2015 (the "Supplemental Notice").

Unless the context requires otherwise, terms used herein shall have the same meanings as those defined in the Corporation's management information circular dated May 19, 2015 (the "Circular") and the supplemental letter to the Shareholders dated June 6, 2015 (the "Supplemental Letter").

The board of directors of the Corporation (the "Board") is pleased to announce that the resolutions, as set out in the Notice and the Supplemental Notice subject to the next following paragraph, were duly passed by the shareholders of the Corporation (the "Shareholders") by way of poll at the Meeting held on June 24, 2015 (Hong Kong time) and June 23, 2015 (Calgary time). Computershare Hong Kong Investor Services Limited, the Hong Kong branch share registrar of the Corporation, was appointed as the scrutineer for the vote-taking at the Meeting.

Due to his personal reasons and other professional commitments, Mr. Tingan Liu informed the Meeting that he would not stand for re-election as a director. As such, he retired as non-executive chairman and director of the Corporation at the conclusion of the Meeting in accordance with his term of office.  Mr. Tingan Liu has confirmed that he has no disagreement with the Board and there are no matters relating to his retirement as non-executive chairman and director that need to be brought to the attention of the shareholders of the Corporation.

Due to the retirement of Mr. Tingan Liu as a Director, resolution number 1 as stated in the Supplemental Letter was amended as follows: "to fix the number of directors to be elected at the 2015 AGM at eleven (11)" and the resolution to elect Mr. Tingan Liu for the ensuing year was removed.

The poll results in respect of all the resolutions proposed at the Meeting are set out below:

*  For identification purposes only

Ordinary Resolution

Number of Votes (%)

Total Voting Rights
Present at the
Meeting

For

Against

1. To approve the fixing
the number of directors to
be elected at the Meeting
at eleven (11)

288,383,186

(99.920747%)

228,735

(0.079253%)

288,611,921

The resolution was duly passed as an ordinary resolution.

 

 

Ordinary Resolution

Number of Votes (%)

Total Voting Rights
Present at the
Meeting

For

Withheld

2. To elect the following directors for the ensuing year:

 

(a)  Michael John Hibberd

277,079,955

(98.466568%)

4,315,000

(1.533432%)

281,394,955

 

The resolution was duly passed as an ordinary resolution.

 

(b)  Hok Ming Tseung

276,177,874

(98.329150%)

4,692,931

(1.670850%)

280,870,805

 

The resolution was duly passed as an ordinary resolution.

 

(c)  Haotian Li

276,530,128

(98.271175%)

4,864,827

(1.728825%)

281,394,955

 

The resolution was duly passed as an ordinary resolution.

 

(d)  Raymond Shengti Fong

277,847,064

(98.543030%)

4,108,000

(1.456970%)

281,955,064

The resolution was duly passed as an ordinary resolution.

 

(e)  Robert John Herdman

277,891,935

(98.558944%)

4,063,129

(1.441056%)

281,955,064

The resolution was duly passed as an ordinary resolution.

 

(f)   Gerald Franklin Stevenson

287,761,435

(98.608357%)

4,061,129

(1.391643%)

291,822,564

 

The resolution was duly passed as an ordinary resolution.

 

(g)  Jin Hu (Jimmy Hu)

280,405,736

(99.834419%)

465,069

(0.165581%)

280,870,805

 

The resolution was duly passed as an ordinary resolution.

 

(h)  Zhefei Song (Bill Song)

281,744,995

(99.925496%)

210,069

(0.074504%)

281,955,064

 

The resolution was duly passed as an ordinary resolution.

 

(i)   Hong Luo

281,035,826

(99.872375%)

359,129 (0.127625%)

 

281,394,955

 

The resolution was duly passed as an ordinary resolution.

 

(j)   Qi Jiang

281,447,617

(99.889576%)

311,129

(0.110424%)

281,758,746

 

The resolution was duly passed as an ordinary resolution.

 

(k)  Kwok Ping Sun

277,219,360

(99.841244%)

440,802

(0.158756%)

277,660,162

 

The resolution was duly passed as an ordinary resolution.

 

 

Ordinary Resolution

Number of Votes (%)

Total Voting Rights
Present at the
Meeting

For

Against

3. To appoint Deloitte LLP as the
auditor of the Corporation for the
ensuing year and authorizing the
directors of the Corporation to fix
their remuneration as such.

290,861,612

(99.670707%)

 

960,952

(0.329293%)

 

 

291,822,564

 

The resolution was duly passed as an ordinary resolution.

 

                                                                                                                

Ordinary Resolution      

Number of Votes (%)

Total Voting Rights
Present at the
Meeting

For

Against

4. To approve the refreshing of
the ten percent (10%) mandate
under the Corporation's Post IPO
Share Option Scheme, as more
particularly described in the
Circular.

276,541,676

(94.763637%)

 

15,280,888

(5.236363%)

 

 

291,822,564

 

The resolution was duly passed as an ordinary resolution.

 

 


Ordinary Resolution

Number of Votes (%)

Total Voting Rights
Present at the
Meeting

For

Against

5. To approve the refreshing of
the one percent (1%) mandate
under the Corporation's
employee share savings plan, as
more particularly described in the
Circular

286,398,294
(98.141244%)

 

5,424,270
(1.858756%)

 

291,822,564

 

The resolution was duly passed as an ordinary resolution.

 

 

Ordinary Resolution

Number of Votes (%)

Total Voting Rights
Present at the
Meeting

For

Against

6. To approve a proposal for the
Corporation to grant to the Board a
general mandate to allot, issue and
otherwise deal with un-issued
Shares not exceeding twenty
percent (20%) of its issued share
capital, as more particularly
described in the Circular.

290,928,326

(99.693568%)

 

894,238

(0.306432%)

 

 

291,822,564

 

The resolution was duly passed as an ordinary resolution.

 

 

Ordinary Resolution

Number of Votes (%)

Total Voting Rights
Present at the
Meeting

For

Against

7. To approve a proposal for the
Corporation to grant to the Board a
general mandate to repurchase
Shares not exceeding ten percent

(10%) of its issued share capital,
as more particularly described in
the Circular

287,528,728

(98.528614%)

 

4,293,836

(1.471386%)

 

 

291,822,564

 

The resolution was duly passed as an ordinary resolution.

 

Please refer to the Circular and the Supplemental Letter for the full text of the above resolutions. Voting by proxy for ordinary resolutions 1 and 2(k) was conducted under a supplemental form of proxy that accompanied the Supplemental Letter.  

As at June 24, 2015 (Hong Kong time), June 23, 2015 (Calgary time) the total number of shares of the Corporation was 3,900,973,071 Shares, which was the total number of shares entitling the holders to attend and vote for or against the resolutions proposed at the Meeting. There were no restrictions on the holders of the Shares to attend and vote for or against the resolutions proposed at the Meeting. There were no Shares entitling the Shareholders to attend and abstain from voting in favour of any of the proposed resolutions at the Meeting resolutions as set out in Rule 13.40 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). No Shareholder was required under the Listing Rules to abstain from voting for approving the resolutions proposed at the Meeting. No parties were indicated in the Circular that they intended to vote against or to abstain from voting on any resolutions at the Meeting.

By Order of the Board of Sunshine Oilsands Ltd.

Michael J. Hibberd
Executive Vice-Chairman

Calgary, June 24, 2015
Hong Kong, June 24, 2015

As at the date of this announcement, the Board consists of Mr. Michael John Hibberd, Dr. Qi Jiang and Mr. Jin Hu as executive directors; Mr. Hong Luo, Mr. Hok Ming Tseung, Mr. Haotian Li and Mr. Kwok Ping Sun as non-executive directors; and Mr. Raymond Shenti Fong, Mr. Robert John Herdman, Mr. Gerald Franklin Stevenson and Mr. Zhefei Song as independent non-executive directors.

SOURCE Sunshine Oilsands Ltd.

For further information: Tina Shi, Phone Number: 852 95750324, Email: tina.shi@cornerstonescom.com

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