NF ENERGY SAVING CORPORATION (NASDAQ:NFEC) Files An 8-K Changes in Control of Registrant
Item 5.01 Changes in Control of Registrant.
On January 30, 2019, NF Energy Saving Corporation (the “Company”) announced that Mr. Yongquan Bi, an existing director and a substantial stockholder of the Company, together with a group of additional investors whose combined holdings constitute a majority of the Company’s voting rights, delivered a written consent (the “Written Consent“) to the Company’s registered office in a process which is consistent with the Company’s governing documents and the applicable Delaware law. According to the Written Consent, three members of the Company’s Board of Directors (the “Board“) (i.e., Lihua Wang, Jianxin Wang and Zhuting Liu) will end their service, and a new director, Mr. Ju Li, will be appointed to the Board, so that the reconstituted Board will consist of seven directors (instead of nine).
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The information included in Item 5.01 of this Current Report on Form 8-K is incorporated by reference into this item 5.02.
There are no family relationships between Mr. Ju Li and any director or other executive officer of the Company.
Mr. Ju Li (40) has rich and extensive financial investment and enterprise management experience. Mr. Li previously worked at AmtexGmbH and at Mercatura Cosmetics Biotech Tech AG. From March 2009 to February 2015, Mr. Li was the general manager of Asia Pacific at Varengold Bank. From April 2015 to February 2017, Mr. Li was the general manager of Asia Pacific at Sensus Asset Management Co., Ltd. Mr. Li holds a B.A. degree from the Bremen University of Applied Sciences,Germany.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
The following exhibit is being furnished herewith and this list shall constitute the exhibit index:
99.1 Press Release of NF Energy Saving Corporation dated January 30, 2019
NF Energy Saving Corp Exhibit
EX-99.1 2 f8k013019ex99-1_nfenergy.htm PRESS RELEASE DATED JANUARY 30,…
To view the full exhibit click here
About NF ENERGY SAVING CORPORATION (NASDAQ:NFEC)
NF Energy Saving Corporation is a provider of energy services. The Company’s principal business is the production and sales of energy-saving flow control equipment, and intelligent flow control equipment. The Company operates through two segments: Heavy manufacturing business and Energy-saving related business. The Heavy manufacturing business segment includes production of valves components and the provision of valve improvement and engineering services. The Energy-saving related business segment includes provision of energy-saving related re-engineering and technical services, and long-term construction project. It provides equipment related to desulfurization, denitration and dust removal for electric power generation, metallurgy, petrochemical, steel, cement and heating supply industries, and provides consulting services, such as energy efficiency optimization design, energy consuming equipment retrofit and engineering, equipment maintenance and services, and energy management.
