This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

SCEI 13D Group Decides To Support Shareholders Taking Action In Nevada

Stocks in this article: SCEI

XI'AN, China, Sept. 5, 2013 /PRNewswire/ -- After the Schedule 13D filing of August 6th, Alain Peracca and the group of seven other investors who participated in the filing contacted the Company via detailed letters issued on three occasions  (August  6 th, 15 th & 24 th).  The Schedule 13D filing Group was not able to obtain from the Company's Management and its Board of Directors satisfactory answers and responses to their questions and requests regarding a number of operational and financial reporting, corporate governance, legal compliance, and shareholder communications issues raised.

The Group was approached recently by some other shareholders of Sino Clean Energy (SCEI) who are taking the steps to file a petition with the Courts of the State of Nevada to compel the Company to have their long overdue regular Annual Shareholder Meeting and to disclose updated financial results to all shareholders in advance of such Meeting.  The person leading this legal action, Ken Recker informed us that they are acting on Nevada statute 78.345 and are looking for support from other shareholders. If you would like to contact the group, you can reach them at scei.nevada@yahoo.com.

Below is an excerpt from Nevada Law:

NRS 78.345  Election of directors by order of court upon failure of regular election. 1.  If any corporation fails to elect directors within 18 months after the last election of directors required by NRS 78.330 , the district court has jurisdiction in equity, upon application of any one or more stockholders holding stock entitling them to exercise at least 15 percent of the voting power, to order the election of directors in the manner required by NRS 78.330 .

The Company's last regular Annual Shareholders Meeting and election of Directors occurred on November 11, 2011.

These other shareholders also informed our Group that they also are considering calling a Special Shareholder Meeting as allowed by the bylaws of the Company.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,828.24 +0.49 0.00%
S&P 500 2,067.56 -5.27 -0.25%
NASDAQ 4,791.63 +4.3130 0.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs