XI'AN, China, Aug. 22, 2013 /PRNewswire/ -- On August 4th, 2013, Alain Peracca and seven other shareholders in Sino Clean Energy (OTC: SCEI) entered into a Voting Agreement. The Voting Agreement gives Mr. Peracca voting rights for the Group's aggregate holdings of 1,276,540 shares. As required by SEC rules, the group of shareholders filed a Schedule 13D (5+% acquisition) on August 6th, 2013. Sino Clean Energy last filed financials with the SEC via a Form 10-Q for the first quarter of 2012 on May 15th, 2012. The company's last Annual Shareholder Meeting and Vote on Directors was on November 11th, 2011. On July 9th, 2013 the Company reached a final settlement of $2,000,000 in a class action suit filed on May 6th, 2011. The Company's last press release to the public and Form 8-K filing with the SEC was on September 28th, 2012 to announce the delisting of trading of their stock on the NASDAQ Global Market and the commencement of trading of the shares on the NASDAQ OTC Bulletin Board.
Extract of the 13D filing:
Purpose of Transaction
The Reporting Persons reserve the right to, and may in the future, further discuss, meet with, and/or send correspondence to (a) the Issuer's management and/or Board of Directors, (b) other holders of securities of the Issuer, and/or (c) other third parties to discuss and/or formulate any plans or proposals regarding the Issuer or its securities. As part of such activities, the Reporting Persons may take positions or make proposals with respect to potential changes in the operations, management, Board of Directors composition, ownership, capital structure, strategy and future plans of the Issuer as a means of enhancing shareholder value. Such suggestions or positions may include one or more plans or proposals that relate to or would result in any of the actions required to be reported herein.
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SOURCE Alain Peracca