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SEC Filings

DEF 14A
SEVEN STARS CLOUD GROUP, INC. filed this Form DEF 14A on 11/20/2017
Entire Document
 

 

Xin Wang*

 

Director Since: November 2017 Age: 55

 

Mr. Wang was appointed as director of the Company in November 2017. Since 2015, Mr. Wang has been a director of Hong Kong Guoyuan Group Capital Holding. Hong Kong Guoyuan Group Financial Holdings Company Limited, a wholly owned subsidiary of Shanghai Jing Xun Industrial Equipment Holdings Limited, was established in 2015 and is in the business of importing and exporting crude oil, petrochemical products and related technologies and equipment, targeting markets in mainland China, Southeast Asia and Singapore. Prior to that, from 2008 and 2015, he was a plot plan engineer at Shanghai ZhiRong Petroleum & Chemical Engineering and Technology Limited Company, responsible for the plant location selection, selection reporting and site planning for a 12M t/a oil refining project in Angora, Africa. Between 1988 and 2007, Mr. Wang was a Managing Director and Supervisor at Luoyang Petroleum & Chemical Infrastructure Supervision Company. Before that he worked as a senior engineer at Sinopec (Luoyang) Petroleum & Chemical Engineering Company, prior to which he was an assistant engineer at San Meng Xia Water Resource and Control Bureau. Mr. Wang earned a Bachelor’s Degree from North China University of Water Resources and Electric Power.

 

Mr. Wang provides our Board with technological expertise with regards to energy investment and products in the China region. Mr. Wang’s unique background in the energy technology industry led us to the conclusion that he should serve as a director of our Company.

 

*Independent Director

 

Except as noted above, the above persons do not hold any other directorships in any company with a class of securities registered pursuant to Section 12 of the Exchange Act or subject to the requirements of Section 15(d) of the Exchange Act.

 

Vote Required

 

The election of the nominees listed in Proposal 1 requires a plurality of the issued and outstanding Common Stock and Series A Preferred Stock, entitled to vote and voting together as a single class on an as-converted basis at the Annual Meeting vote “FOR” the proposal.

 

Recommendation of Our Board

 

Our Board recommends that the Company’s shareholders vote FOR the election of the nominees listed in Proposal 1 (above)

 

CORPORATE GOVERNANCE

 

Director Independence

 

In considering and making decisions as to the independence of each of the directors of the Company, the Board considered transactions and relationships between the Company (and its subsidiaries) and each director (and each member of such director’s immediate family and any entity with which the director or family member has an affiliation such that the director or family member may have a material indirect interest in a transaction or relationship with such entity). The Board has determined that James Cassano, Jin Shi, Jerry Fan and Xin Wang are independent as defined in applicable SEC and NASDAQ rules and regulations, and that each constitutes an “Independent Director” as defined in NASDAQ Listing Rule 5605.

 

Board Leadership Structure and Corporate Governance

 

Our current corporate governance practices and policies are designed to promote shareholder value and we are committed to the highest standards of corporate ethics and diligent compliance with financial accounting and reporting rules. Our Board provides independent leadership in the exercise of its responsibilities. Our management oversees a system of internal controls and compliance with corporate policies and applicable laws and regulations, and our employees operate in a climate of responsibility, candor and integrity.

 

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