Attached files
| file | filename |
|---|---|
| EX-10.1 - China Power Equipment, Inc. | v177602_ex10-1.htm |
| EX-99.1 - China Power Equipment, Inc. | v177602_ex99-1.htm |
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date of
Report (Date of earliest event reported): March 10,
2010
Commission
File Number: 333-147349
|
CHINA POWER EQUIPMENT,
INC.
|
|
(Exact
name of registrant as specified in its
charter)
|
|
Maryland
|
20-5101287
|
|
|
(State
or other jurisdiction of incorporation)
|
(IRS
Employer Identification Number)
|
|
|
6th Floor,
Fei Jing International, No. 15 Gaoxin 6 Road
Hi-tech Industrial
Development Zone Xi’an, Shaanxi, China 710075
|
|
(Address
of principal executive offices)
|
|
86-29-8831-0282\
8831-0560
|
|
(Registrant’s
telephone number, including area
code)
|
____________________________________________________________
(Former name or former address if changed since the last report)
(Former name or former address if changed since the last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
|
o
|
Written
communication pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
|
|
o
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
o
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
|
|
o
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
|
|
Item
5.02
|
Departure
of Directors or Certain Officers; Election of Directors; Appointment of
Certain Officers; Compensatory Arrangements of Certain
Officers
|
On March
10, 2010, Sue Kuen Leung and Junyi Li were appointed as directors of China Power
Equipment, Inc. (the “Company”).
Each of
Messrs Leung and Li entered into an Independent Director Agreement with the
Company, a form of which is filed herewith as Exhibit 10.1. The directors were
appointed until the earlier of the next annual shareholder’s meeting, director’s
removal or resignation. A summary of the compensation for the directorship of
each of Messrs. Leung and Li is set forth as follows:
|
1.
|
An
annual salary of RMB60,000.00 (approximately $8,800) payable in arrears in
equal installments on the last day of each quarter;
|
|
|
|
||
|
2.
|
Reimbursement
of pre-approved business-related expenses incurred in the performance of
the director’s duties.
|
Set
forth below is a brief biography of Mr. Leung:
Mr.
Leung, age 48, is an independent director of Everpride Biopharmaceutical Company
Limited, a company listed on the GEM board of the Hong Kong Stock Exchange,
since November 2009. He was an executive director of China Golden Development
Holdings Limited, a company listed on the main board of the Hong Kong Stock
Exchange, from April 2007 to December 2008. Mr. Leung received a Master’s degree
in business administration and a Bachelor of Science (economics) degree from the
Hong Kong Polytehnic (currently known as The Hong Kong Polytechnic University).
He is a member of the Hong Kong Institute of Certified Public Accountants and an
associate of the Chartered Institute of Management Accountants (U.K.). Mr. Leung
has over 20 years of experience in accounting and finance.
Set
forth below is a brief biography of Mr. Li:
Mr. Li,
age 56, has been active in the amorphous alloy industry for more than 30 years
and has served as Vice President of Advanced Science & Technology Co., Ltd.
(Public, SHE: 000969) since 2004. Mr. Li previously served as the Executive
Deputy Chief of National Amorphous and Nano-Crystalline Engineering Center, and
General Manager of the Amorphous Division. As a senior engineer in the industry,
Mr. Li was named as an “Advanced Individual” of the “Ninth Five-Year National
Key Science and Technology Research Programs” and awarded a special government
allowance for scientists. He was also awarded the Second Prize of National
Science and Technology Progress and the First Prize of Metallurgical Science and
Technology Progress. Mr. Li has a Bachelor’s degree from the Northeastern
University and serves as an instructor at the university.
|
Item
8.01
|
Other
Events
|
On March
16, 2010, the Company issued a press release announcing the appointment of new
directors. A copy of the press release is filed herewith as Exhibit
99.1.
|
Item
9.01
|
Financial
Statements and Exhibits
|
(d)
Exhibits
|
Number
|
Description
|
|
|
10.1
|
Form
of Independent Director Agreement.
|
|
|
99.1
|
Press
Release dated March 16, 2010.
|
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
|
China
Power Equipment, Inc.
|
|||
|
March
16, 2010
|
By:
|
/s/ Yongxing Song | |
|
Name:
Yongxing Song
|
|||
|
Title:
Chief Executive Officer and President
|
|||