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Resolutions of the 9th Meeting of the Fifth Session of the Supervisory Committee

The Company and all members of the supervisory committee warrant that the information contained in this announcement is truthful, accurate and complete, and jointly accept full responsibility for any false presentations or misleading statements contained in, or material omissions from, this announcement.

 

The notice for convening the 9th meeting of the fifth session of the supervisory committee of Sinopec Shanghai Petrochemical Company Limited (the “Company”) (the “Meeting”) was sent to all supervisors on 15 March 2007 by way of facsimile transmission or by courier. The Meeting was held at conference room No.4 of the Company’s main building in the afternoon of 28 March 2007. Of the 7 supervisors entitled to attend the Meeting, 4 supervisors were in attendance. Supervisor, Mr. Yin Yongli, was absent due to business engagement and had appointed Mr. Gao Jinping, chairman of the supervisory committee, to vote on his behalf. Supervisors, Mr. Liu Xiangdong and Ms. Wang Yanjun, were absent due to business engagement and had appointed supervisor, Mr. Zhang Chenghua, to vote on their behalf. The Meeting was in compliance with the relevant rules and regulations of the Company Law, the Securities Law and the articles of association of the Company.

The resolutions for the Meeting were considered by the supervisors and were approved as follows:

(1)   The Company’s 2006 Annual Report was approved

The Supervisory Committee of the Company has conscientiously reviewed the Company’s 2006 annual report in accordance with the relevant requirements of Article 68 of the Securities Law and “No. 2 `Content and Format of Annual Report’ of the Standards of Content and Format on Information Disclosure for Publicly Listed Companies” (2006 Edition) << >>( ). Supervisors who attended the Meeting unanimously agreed that:

        1.  The preparation and review procedures for the 2006 annual report were in compliance with the requirements of the relevant law, regulations and the articles of association of the Company.

 

        2.  The content and format of the 2006 annual report were in compliance with the relevant requirements of the China Securities Regulatory Commission and the Shanghai Stock Exchange. The information contained therein gave a truthful view of the Company’s 2006 operation management and financial position in various respects.

 

       3.  Before the Supervisory Committee issued its review opinion on “the Company’s 2006 Annual Report”, no violation of the confidentiality requirements has been found in respect of the individuals who participated in the preparation and review of the 2006 annual report.

 

        4.  The information contained in the Company’s 2006 annual report is truthful, accurate and complete, without any false presentations, misleading statements or material omissions, and that it shall jointly accept full responsibility for the truthfulness, accuracy and completeness of the information contained therein. 

       

 

(with 7 votes in favor, 0 vote against and 0 abstaining vote)

 

(2)   ”The 2006 Work Report of the Supervisory Committee of the Company” was approved

All supervisors in attendance unanimously agreed that: 1) the work report gave an objective analysis on the operating results, not only acknowledging the achievements made but also indicating the gap between leading peer corporations and the Company; 2) the work report acknowledged that the 2006 annual report gave a truthful and fair view of the financial position and operating results of the Company. The unqualified financial statements, issued by KPMG Huazhen was truthful and fair; 3) the work report acknowledged the work efforts made by the supervisory committee in 2006, and that the proposed work objectives for 2007 were in line with the actual operation of the Company. At the Meeting, the work report was approved to be submitted to the 2006 annual general meeting for consideration.

         

(with 7 votes in favor, 0 vote against and 0 abstaining vote)

 

(3)   ”Comments on the 2006 annual report by the Supervisory Committee” were considered and approved

         

(with 7 votes in favor, 0 vote against and 0 abstaining vote)

 

(4)   ”Major work items in 2007 for the Supervisory Committee” were considered and approved

        

(with 7 votes in favor, 0 vote against and 0 abstaining vote)

 

                                                                                                             

Sinopec Shanghai Petrochemical
 Company Limited
 Supervisory Committee

 

Shanghai, the PRC, 29 March 2007

 

As at the date of this announcement, the executive directors of the Company are Rong Guangdao, Du Chongjun, Han Zhihao, Shi Wei, Li Honggen and Dai Jinbao; the non-executive directors of the Company are Lei Dianwu and Xiang Hanyin, and the independent non-executive directors of the Company are Chen Xinyuan, Sun Chiping, Jiang Zhiquan and Zhou Yunnong.  

SPC

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