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Greenergy Holdings, Inc. results of Board of Directors' Meeting

During the meeting of the Board of Directors ("Board”) of Greenergy Holdings Incorporated (the "Corporation”) held today, the Board passed and approved the following:
  1. Grant of authority to invest up to 100 Million RMB to form a joint venture China-based science and technology incubation company that will engage in funding start-up companies in economic zones for science and technology, renewable energy and environment-friendly products;
  2. Grant of consent to the assignment by Tianjin Tianbao Investment and Development Corporation to its affiliate China Power (Tianjin) New Energy Development Co. Ltd. of the Memorandum of Agreement entered into with the Corporation on August 31, 2011 and authority to sign agreement/s in relation thereto and creation of a joint working committee to conduct final due diligence;
  3. Grant of authority for the Corporation or its subsidiary to enter into agreement/s with government agencies and local government units in relation to solid waste recycling and biomass generation;
  4. Grant of consent for Music Semiconductors Philippines, Inc. (39% owned) to look for prospective investors to fund its expansion and list its shares with the Philippine Stock Exchange in compliance with existing rules;
  5. Establishment of a new subsidiary to engage in renewable energy and apply for accreditation with the Department of Energy in compliance with existing rules; and
  6. Grant of authority for the possible acquisition of Puncture Rescue Agent, a modern technology for tire puncture repair.
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"Greenergy Holdings, Inc. results of Board of Directors' Meeting" was written by Mary under the Business category. It has been read 2099 times and generated 0 comments. The article was created on and updated on 14 March 2012.
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