Connected transaction payment of director fee in shares in lieu of cash under general mandate and notice of special general meeting
This circular and the enclosed notice of SGM should be read together with the management information circular issued by Sunshine Oilsands Ltd. to the holders of Class “A” Common Voting Shares of the Company dated May 23, 2019 (the “AGM Circular”), including, without limitation, the information under the heading “Proxy Information for Beneficial Shareholders” on pages 3 and 4 of the AGM Circular, and the notice (the “2019 AGM Notice”) convening the Special and Annual General Meeting of the Company to be held on Monday, June 24, 2019 at 9:30 a.m. (Hong Kong time) / Sunday, June 23, 2019 at 7:30 p.m. (Calgary time) at 20/F, Two Chinachem Central, No.26 Des Voeux Road Central, Central, Hong Kong (the “2019 General Meeting”).
On May 15, 2019, the Board announced that it has approved the payment of 100% of the director fee to the Connected Directors (i.e. (i) Mr. Michael J Hibberd, (ii) Mr. Hong Luo, (iii) Ms. Xijuan Jiang, (iv) Ms. Joanne Yan and (v) Mr. David Yi He) for the period from October 1, 2017 to April 30, 2019 in lieu of cash, subject to conditions and compliance with the reporting, announcement and Independent Shareholders’ approval requirement under Chapter 14A of the Listing Rules.
The purpose of this circular aims at providing you additional information in relation to the said issuance of Shares to Connected Directors in lieu of cash for director fee and to give you a notice of SGM and the second proxy form (the “Second Proxy Form”) for use at the SGM.