HONG KONG, CHINA and CALGARY, ALBERTA–(Marketwired – May 16, 2017) – Sunshine Oilsands Ltd. (the “Corporation” or “Sunshine“) (HKSE:2012) hereby announce that each of Dr. Qi Jiang and Mr. Gerald F. Stevenson has confirmed that they will not stand for re-election at the Annual Meeting of the Corporation to be held on June 27, 2017 (the “AGM“). Their terms as Director of the Corporation will expire at the conclusion of the AGM. Each of Dr. Qi Jiang and Mr. Gerald F. Stevenson has confirmed that he has no disagreement with the Board and that there are no matters that need to be brought to the attention of the shareholders of the Corporation.
Save as the aforesaid two Directors, the Corporation wishes to announce all other Directors currently on Board have confirmed that they will offer themselves for re-election at the AGM.
The Board would like to thanks Dr. Jiang and Mr. Stevenson for their dedicated services and contributions to the Corporation over the years and wishes them success in their future endeavours.
The Corporation is pleased to further announce that Ms. Gloria Pui Yun Ho (“Ms. Gloria Ho“), currently the Chief Financial Officer of Sunshine, be proposed for election as an Executive Director; whereas, Mr. Jeff Jingfeng Liu (“Mr. Jeff Liu“) be proposed for election as an Independent Non-Executive Director of the Corporation at the AGM.
Biographical details of each of Mr. Jeff Liu and Ms. Gloria Ho are as follows:
Mr. Jeff Liu
Mr. Jeff Jingfeng Liu, aged 39, is the founder and CEO of Jingshuo Capital, which is an investment management company focusing on investment advisory and private equity fund investment management business. He has more than 16 years of financial and investment related experience. Prior to founding Jingshuo Capital, Mr. Liu was executive director of investment management division of Goldman Sachs (Asia) LLC from 2012 to 2016, where he was providing discretionary investment services to the entrepreneurs and listing companies in Greater China region, helping the clients to invest in global special investment opportunities, and invest in the leading private equity fund and hedge fund. From 2001 to 2008, Mr. Liu started his professional career at HSBC where he held various senior roles in commercial banking department and specialized in corporate financing business for State-owned enterprises and private enterprises in China. After that, he joined JP Morgan as vice president of private banking Greater China team based in Hong Kong in 2009, where he was providing private wealth management and investment advisory services to ultra-high net worth individuals and institutional clients. Mr. Liu graduated from Fudan University of China in 2001 and holds bachelor degree in economics.
There will be no service contract between the Corporation and Mr. Liu should he be elected as an independent non-executive Director. If elected, Mr. Liu is entitled to receive director’s emolument in accordance with the emolument policy of the Corporation. In accordance with the Corporation’s articles of incorporation and by-laws, Mr. Liu, if elected, shall hold office as a director subject to re-election at the next annual meeting of the Corporation.
Save as disclosed herein, Mr. Liu has not held any directorships in other listed public companies in the last three years and does not hold any other positions in the Corporation nor in any other subsidiaries of the Corporation. Mr. Liu does not have any relationship with any Directors, supervisors, senior management, substantial or controlling shareholder (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Listing Rules“)) of the Corporation. Mr. Liu does not have any other interests in the securities of the Corporation within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the “SFO“), except that he is interested in 600,000 Shares of the Corporation.
Ms. Gloria Ho
Ms. Gloria Pui Yun Ho, aged 36, is the Chief Financial Officer of Sunshine currently. Ms. Ho has extensive experience in investment, risk management, corporate banking and finance. She previously worked in equity research, credit analysis, capital strategy, funds management and auditing in several international institutions and most recently as the Chief Executive of a reputable Chinese-based asset management firm. She is a Chartered Accountant, Certified Public Accountant, Chartered Financial Analyst and Chartered Alternative Investment Analyst. Ms. Ho holds a postgraduate certificate in Financial Engineering at Stanford University and a M.Sc. in Finance at the University of Illinois at Urbana-Champaign.
There will be no new service contract between Ms. Ho and the Corporation should her be elected as an executive Director, other than the employment contract in her capacity as the Chief Financial Officer of the Corporation. If elected, she will be entitled to receive director’s emolument in accordance with the emolument policy of the Corporation in her capacity as executive Director (such emolument policy is subject to revision by the Compensation Committee of the Corporation). In accordance with the Corporation’s articles of incorporation and by-laws, Ms. Ho, if elected, shall hold office as director subject to re-election at the next annual meeting of the Corporation.
Save as disclosed in this announcement, Ms. Ho has not held any directorships in other listed public companies in the last three years and does not hold any other positions in the Corporation nor in any other subsidiaries of the Corporation. She does not have any relationship with any other Directors, supervisors, senior management, substantial or controlling shareholder of the Corporation (as defined under the Listing Rules). Save as 5,000,000 share options of the Corporation, Ms. Ho does not have any interests in the securities of the Corporation within the meaning of Part XV of the SFO.
Save as disclosed in this announcement, both Ms. Ho and Mr. Liu have confirmed that there is no other information that is required to be disclosed in accordance with Rule 13.51(2)(h) to (v) of the Listing Rules and there is no other matter relating to their proposed election that needs to be brought to the attention of the shareholders of the Corporation.
ABOUT SUNSHINE OILSANDS LTD.
The Corporation is a Calgary based public corporation listed on the Hong Kong Stock Exchange since March 1, 2012. The Corporation is focused on the development of its significant holdings of oil sands leases in the Athabasca oil sands region. The Corporation owns interests in approximately one million acres of oil sands and petroleum and natural gas leases in the Athabasca region. The Corporation is currently focused on executing milestone undertakings in the West Ells project area. West Ells has an initial production target of 5,000 barrels per day.