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CPSL > SEC Filings for CPSL > Form 8-K on 1-Jul-2013All Recent SEC Filings

Show all filings for CHINA PRECISION STEEL, INC.

Form 8-K for CHINA PRECISION STEEL, INC.


1-Jul-2013

Submission of Matters to a Vote of Security Holders, Other Events, Fi


Item 5.07 Submission of Matters to a Vote of Security Holders

On June 28, 2013, China Precision Steel, Inc. (the "Company") held its 2013 annual meeting of stockholders (the "Annual Meeting"). The total number of shares represented at the Annual Meeting in person or by proxy was 2,029,626 of the 3,880,866 shares of common stock outstanding and entitled to vote at the Annual Meeting.

The matters that were voted upon at the Annual Meeting, and the number of votes cast for or against/withheld, as well as the number of abstentions, as to such matters, where applicable, are set forth in the table below. With respect to the election of LeadaTak Tai Li, Hai Sheng Chen and Tung KuenTsui to each serve on the Company's Board of Directors, Ms. LeadaTak Lai Li, Mr. Hai Sheng Chen and Mr. Tung KuenTsui received the number of votes set forth opposite their names.

                                                         Number of Votes
                                Votes For       Votes Against       Abstentions
Election of LeadaTak Tai Li      1,409,882              76,718                  -
Election of Hai Sheng Chen       1,413,464              73,136                  -
Election of Tung KuenTsui        1,414,382              72,218                  -
Ratification of Moore
Stephens as the Company's
independent registered
public accountant for the
fiscal year ending June 30,
2013.                            2,024,638               2,654              2,334
To Authorize the Amendment
of the Company's Amended and
Restated Articles of
Incorporation to effect a
reduction in the number of
shares of common stock and
preferred stock that the
Company is authorized to
issue.                           1,466,808              19,598                194
Non-binding advisory vote on
the Company's Executive
Compensation                     1,363,259             116,639              6,702

                                 One Year          Two Years          Three Years       Abstentions
Non-binding advisory vote to
approve the frequency of
advisory votes on Executive
Compensation                       115,761              18,315          1,309,635            42,889

On the basis of the above votes, (i) LeadaTak Tai Li, Hai Sheng Chen and Tung KuenTsuiwere elected as directors, (ii) the proposal to ratify the selection of Moore Stephens as the Company's independent registered public accountant to audit its consolidated financial statements for the fiscal year ending June 30, 2013 was adopted, and (iii) the amendment of the Company's Amended and Restated Articles of Incorporation to reduce the number of shares of common stock and preferred stock that will be determined by the Board was approved, but (a) such reduced number of authorized shares of common stock shall be not lower than five million (5,000,000) or higher than twenty million (20,000,000) and (b) such reduced number of authorized shares of preferred stock shall not be lower than two hundred thousand (200,000) or higher than two million (2,000,000); provided, however, that such approval shall expire on August 30, 201. The stockholders also voted a sufficient number of non-binding advisory votes to approve (iii) the Company's executive compensation and (iv) the three-year frequency for advisory votes on executive compensation.



Item 8.01 Other Events.

On July 1, 2013 the Company issued a press release regarding the results of the Annual Meeting.

A copy of the Company's press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and incorporated herein as reference.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit
No. Description

99.1* Press Release issued by the Company, dated July 1, 2013.

* filed herewith

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