CHINA RECYCLING ENERGY CORPORATION (NASDAQ:CREG) Files An 8-K Submission of Matters to a Vote of Security Holders
Item 5.07
On July 2, 2019, China Recycling Energy Corporation, a Nevada corporation (the “Company”), held its 2019 Annual Meeting of Shareholders. A quorum was present at the meeting as required by the Fourth Amended and Restated Bylaws of the Company. The final voting results of the matters submitted to a shareholder vote at the meeting are as follows:
Proposal 1: Election of Directors
The following five individuals were elected to the Board of Directors of the Company to serve as directors until the 2020 Annual Meeting of Shareholders and until their successors have been duly elected and qualified, as follows:
| 457,243 | 19,893 | 4,439,514 | 219,490 | 5,015,555 |
As described above, a majority of the votes cast voted, in an advisory, non-binding vote, in favor of having a shareholder vote to approve the compensation of the Company’s named executive officers every three years. In light of such vote, and consistent with the Company’s recommendation, the Company’s Board of Directors determined that it currently intends to include an advisory, non-binding vote to approve the compensation of the Company’s named executive officers every three years.
About CHINA RECYCLING ENERGY CORPORATION (NASDAQ:CREG)
China Recycling Energy Corporation is engaged in the recycling energy business, providing energy savings and recycling products and services. The Company develops waste energy recycling projects for industrial applications in China. It offers waste energy recycling systems to companies for use in iron and steel, nonferrous metal, cement, coal and petrochemical plants. Its waste pressure-to-energy solution consists of the blast furnace top gas recovery turbine unit (TRT), a system that utilizes high pressure gas emitted from the blast furnace top to drive turbine units and generate electricity. Its waste heat-to-energy solution consists of heat power generation projects for applications in cement, steel, coking coal and nonferrous metal industries, which collect the residual heat from various manufacturing processes, such as the entrance and exit ends of the cement rotary kilns, to generate electricity.
