Wind Power shareholders pass all resolutions at meet
Wind Energy Holding's (WEH) majority shareholders approved all resolutions at the company's extraordinary shareholder general meeting, including maintaining the existing board composition of eight directors and changing the authorised directors of the c
At the meeting on Wednesday, newly-appointed board chairman Thun Reansuwan said the EGM represented another step forward for the company.
Following the board’s call for all share capital to be paid-up by March 31, 2015 in line with the company’s business plan, a number of major shareholders, including REC, have made their respective payments.
The recapitalisation will further strengthen the company’s balance sheet.
“We have also been informed that Renewable Energy Corporation Co Ltd (REC) is currently in discussions with a number of potential buyers regarding its stake in WEH and expects the sale to be completed within the coming months.
“With the existing expertise and track record of the management team and stability at the board level, we are well positioned to deliver value for all of our shareholders, ” he added. At an earlier board meeting on January 6, WEH directors called for the remaining unpaid capital on all shares to be paid-up.
The board has now confirmed that 95.7 per cent of the total registered share capital has been paid up in full, said Tun who was also appointed chairman of the board at Wednesday meeting.
Fastest-growing renewables
WEH is one of the fastest- growing renewables company in Thailand, focusing on wind power, and is the only company to have built a commercial scale wind farm in the country. The two farms in Nakhon Rachasima boost a total capacity of 207 MW.
The company also has the largest domestic wind power pipeline and is currently developing seven projects, spanning some of the most attractive wind producing areas in Thailand. WEH accounts for over 93 per cent of the existing, contracted wind power capacity in Thailand and over 40 |per cent of the total quota in the country.
