China Oilfield Services Limited ( COSL or the Company ) held its extraordinary general meeting 2003 ( EGM ) on October 22, 2003 at the Multi-function Conference Room, 3/F., CNOOC Plaza, No. 6, Dongzhimenwai Xiaojie, Beijing, China. The shareholders in attendance either in person or by proxy at the meeting represented 2,936,158,357 shares, or 73.
49%, of the total 3,995,320 shares. Mr. Fu Chenyu, Chairman of the Board, was unable to attend the EGM as he is currently out of the country. According to the relevant rules stated in the Articles of Association, the Board had adopted the written resolution to appoint Mr. Yuan Guangyu to convene and preside over the EGM.
The shareholders in attendance considered and voted by ballot to adopt ordinary resolutions approving the following items:
1. To declare a special interim dividend for the six months ended June 30, 2003; and
2. To elect a director.
The shareholders in attendance have resolved: 1) to declare a special dividend as a result of the tax refund for the fourth quarter of 2002. The total dividend payment will amount to RMB49,026,000. The dividend of RMB0.0123 per share (tax inclusive) will be distributed on November 21, 2003; 2) to accept Mr.
Yang Yexin's resignation from his position as Executive Director of the Company. The EGM was informed that Mr. Yang will take up a new position as General Manager of CNOOC Chemical Limited. The EGM and the Board of Directors expressed appreciation for Mr. Yang's efforts and contributions made to the Company during his employ as Executive Director of the Company.
In view of this development, the shareholders in attendance considered and voted to approve an ordinary resolution in accordance with the COSL Articles of Association. Based on a nomination made by COSL's shareholder, China National Offshore Oil Corporation, pursuant to Article 102 of COSL's Articles of Association, Mr.
Li Wenxiang was elected by the EGM an Executive Director of the Company subject to necessary procedures to be completed as required by The Stock Exchange of Hong Kong Limited.
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