CANADIAN SOLAR INC.
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF THE
SECURITIES EXCHANGE ACT OF 1934
For the month of June 2008
Commission File Number: 001-33107
CANADIAN SOLAR INC.
199 Lushan Road
Suzhou New District
Suzhou, Jiangsu 215129
Peoples Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover
Form 20-F or Form 40-F.
Form 20-F þ Form 40-F o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1): o
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7): o
Indicate by check mark whether by furnishing the information contained in this Form, the registrant
is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes o No þ
If Yes is marked, indicate below the file number assigned to the registrant in connection with
Rule 12g3-2(b):
82- N/A
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
|
|
|
CANADIAN SOLAR INC.
|
|
|
By: |
/s/ Shawn (Xiaohua) Qu
|
|
|
Name: |
Shawn (Xiaohua) Qu |
|
|
Title: |
Chairman, President and Chief Executive Officer |
|
|
Date: June
6, 2008
EX-20.1 NOTICE OF ANNUAL MEETING OF SHAREHOLDERS
Exhibit 20.1
CANADIAN SOLAR INC.
130 King Street West, Suite 1600, The Exchange Tower
Toronto, Canada M5X 1J5
NOTICE OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS
NOTICE IS HEREBY GIVEN that an annual and special meeting (the Meeting) of shareholders of
Canadian Solar Inc. (the Corporation) will be held at 11-15 Queens Gate Place Mews, London,
England, SW7 5BG, on Thursday, June 26, 2008 at 10 a.m. (local time) for the following purposes:
|
(a) |
|
to receive the audited consolidated financial statements of the
Corporation for the financial year ended December 31, 2007 together with the
auditors report thereon and the notes thereto; |
|
|
(b) |
|
to elect directors of the Corporation; |
|
|
(c) |
|
to reappoint Deloitte Touche Tohmatsu CPA, Ltd. as the auditors of the
Corporation and to authorize the directors of the Corporation to fix their
remuneration; |
|
|
(d) |
|
to consider and, if thought advisable, to approve a special resolution
of shareholders ratifying an amendment to By-Law No. 1 of the Corporation
permitting the common shares of the Corporation to be issued, held and
transferred in uncertificated form; and |
|
|
(e) |
|
to transact such other business as properly may be brought before the
Meeting or any adjournment thereof. |
The matters to be dealt with at the Meeting are described in the management information
circular of the Corporation (the Circular) accompanying this Notice.
Shareholders are entitled to appoint a proxy to attend and act for and on behalf of them at
the Meeting. Shareholders who are unable to attend the Meeting in person and who wish to ensure
that their common shares are voted at the Meeting are requested to complete, sign and return the
accompanying form of proxy in accordance with the instructions set out therein and in the Circular.
DATED: May 30th, 2008.
|
|
|
|
|
|
|
BY ORDER OF THE BOARD OF DIRECTORS
|
|
|
|
/s/ Shawn (Xiaohua) Qu
|
|
|
|
Shawn (Xiaohua) Qu |
|
|
|
Chairman, President and Chief Executive Officer |
|
|
EX-20.2 MANAGEMENT INFORMATION CIRCULAR
Exhibit 20.2
MANAGEMENT INFORMATION CIRCULAR
INFORMATION INCORPORATED BY REFERENCE
Certain information contained in this management information circular (the Circular) has
been incorporated in this Circular from the annual report of the Corporation on Form 20-F (Form
20-F), which has been filed with the United States Securities and Exchange Commission and is
attached hereto.
VOTING INFORMATION
Solicitation of Proxies
This Circular of Canadian Solar Inc. (the Corporation) is furnished in connection with the
solicitation of proxies by management of the Corporation for use at the annual meeting of
shareholders of the Corporation (the Meeting) to be held at the time and place and for the
purposes set forth in the notice of meeting accompanying this Circular (the Notice).
The solicitation of proxies will be primarily by mail, but proxies may also be solicited by
telephone, in writing or in person by the directors, officers and regular employees of the
Corporation. The Corporation may also use the services of a proxy solicitation firm. The cost of
the solicitation of proxies will be borne by the Corporation.
Appointment of Proxies
The persons named in the accompanying form of proxy are directors and/or officers of the
Corporation.
A shareholder has the right to appoint a person (who need not be a shareholder) other than the
persons named in the accompanying form of proxy to be the proxy of the shareholder at the Meeting
and may exercise this right either by inserting that persons name in the blank space
provided in the accompanying form of proxy or by completing another proper form of proxy. To be
effective, completed proxies must be received by BNY Mellon Shareowner Services by mail in the
enclosed return envelope, at least 48 hours (excluding Saturdays, Sundays and holidays) before the
time of the Meeting or any adjournment thereof or be deposited with the chairman of the Meeting
before the commencement of the Meeting or any adjournment thereof.
Revocation of Proxies
Proxies given by shareholders for use at the Meeting may be revoked at any time before their
use. In addition to revocation in any manner permitted by law, a proxy may be revoked by
depositing an instrument in writing signed by the shareholder or by the shareholders attorney duly
authorized in writing with BNY Mellon Shareowner Services by mail or hand delivery to the Proxy
Department, 480 Washington Boulevard, Jersey City, New Jersey, 07310-1900 United States of America
at least 48 hours (excluding Saturdays, Sundays and holidays) before the time of the Meeting or any
adjournment thereof or be deposited with the chairman of the Meeting before the commencement of the Meeting or any
adjournment thereof.
Voting and Discretion of Proxies
The common shares represented by the proxies solicited by management pursuant to this Circular
will be voted in accordance with the directions contained therein.
If no directions are given, the common shares will be voted FOR:
|
(a) |
|
the election of the six proposed nominees for election as directors named in
the Circular; |
|
|
(b) |
|
the appointment of Deloitte Touche Tohmatsu CPA, Ltd. as the auditors
of the Corporation and the authorization of the directors of the Corporation to fix
their remuneration; and |
|
|
(c) |
|
the approval of a special resolution of shareholders ratifying an amendment to
By-Law No. 1 of the Corporation permitting the common shares of the Corporation to be
issued, held and transferred in uncertificated form. |
The accompanying form of proxy confers discretionary authority on the persons named therein in
respect of amendments or variations to the matters referred to in this Circular and in respect of
other matters that may properly come before the Meeting, or any adjournment thereof. Management of
the Corporation knows of no such amendments or variations or other matters that may properly come
before the Meeting but, if any such amendments or variations or other matters properly come before
the Meeting, the persons named in the accompanying form of proxy will vote thereon in accordance
with their best judgement.
Voting Shares
Shareholders of record on Tuesday, June 3, 2008 are entitled to receive notice of and vote at
the Meeting.
The authorized capital of the Corporation consists of an unlimited number of common shares.
As of April 30, 2008, there are 27,774,818 common shares outstanding. All of the outstanding
common shares may be voted at the Meeting. Shareholders are entitled to one vote for each common
share held by them.
Principal Shareholders
To the knowledge of the directors and executive officers of the Corporation, the only persons
who beneficially own, directly or indirectly, or exercise control or direction over voting
securities of the Corporation carrying 5% or more of the voting rights attached to any class of
voting securities of the Corporation are set out in Item 6E
Share Ownership
of Form 20-F.
Required Approval
All matters to be dealt with at the Meeting require the approval of a majority of the votes
cast on the matter, other than the special resolution of shareholders ratifying an amendment to
By-Law No. 1 of the Corporation permitting the common shares of the Corporation to be issued, held
and transferred in uncertified form, which requires the approval of at least two-thirds of the
votes cast on the matter.
BUSINESS OF MEETING
Consolidated Financial Statements
The audited consolidated financial statements of the Corporation for the financial year ended
December 31, 2007, together with the auditors report thereon and the notes thereto, accompany this
Circular and will be submitted to the Meeting. Receipt of the audited consolidated financial
statements will not constitute approval or disapproval of any matters referred to therein.
Election of Directors
The articles of the Corporation require that the Corporation have a minimum of three directors
and a maximum of ten directors. The articles also provide that the actual number of directors
within the specified minimum and maximum may be determined from time to time by resolution of the
directors. The board of directors of the Corporation (the Board) has by resolution fixed the
number of directors of the Corporation, within the specified minimum and maximum, at six. The term
of office of each of the current directors expires on the election of directors at the Meeting.
Management of the Corporation intends to nominate the individuals named below for election as
directors of the Corporation. The Corporation has not received notice, and management of the
Corporation is not aware, of any other nominees for election as directors of the Corporation.
The following table sets out the name and province or state and country of residence of each
person proposed to be nominated for election as director at the Meeting and his current position
with the Corporation. See Item 6A. Directors and Senior Management, Item 6C. Board Practices
Committees of the Board of Directors and Item 6E. Share Ownership of Form 20-F for the following
additional information with respect to each person proposed to be nominated for election as
director at the Meeting: the period during which he has served as a director, the Board committees
of which he is a member, his principal occupation and the number of common shares beneficially
owned, directly or indirectly, or controlled or directed by him.
|
|
|
Name and |
|
|
Municipality of Residence |
|
Current Position(s) with the Corporation |
Shawn (Xiaohua) Qu
Suzhou, Peoples Republic of China
|
|
Chairman, President and Chief Executive
Officer and Director |
Arthur Chien
Beijing, Peoples Republic of China
|
|
Vice President, Finance and Secretary
On June 7, 2008, Mr. Chien will become a
Director and Chief Financial Officer of
the Corporation replacing Mr. Bing Zhu
who has resigned from those positions
effective June 7, 2008 |
Robert McDermott
Toronto, Ontario, Canada
|
|
Lead Independent Director |
Lars-Eric Johansson
London, The United Kingdom
|
|
Director |
Michael G. Potter
Pleasanton, California, United
States of America
|
|
Director |
Yan Zhuang
Beijing, Peoples Republic of China
|
|
Director |
Appointment of Auditors
Management of the Corporation proposes that Deloitte Touche Tohmatsu CPA, Ltd. be re-appointed
auditors of the Corporation and that the directors of the Corporation be authorized to fix their
remuneration. Deloitte Touche Tohmatsu CPA, Ltd. have been auditors of the Corporation since
December, 2005.
Amendment to By-Law No. 1
Management of the Corporation is seeking approval of a special resolution of shareholders
ratifying an amendment to By-Law No. 1 of the Corporation permitting the common shares of the
Corporation to be issued, held and transferred in uncertified form. The amendment was approved by
the directors on December 12, 2007 so that the Corporation would comply with the listing
requirements of the Nasdaq Global Market, which require all securities listed thereon to be
eligible for listing and transfer through the Direct Registration System. In order for the common
shares to be eligible for listing and transfer through the Direct Registration System, the
Corporation must be authorized to issue its common shares in uncertificated form.
A copy of the special resolution is attached to this Circular as Schedule A.
Other Business
Management of the Corporation knows of no other matters that may properly come before the
Meeting.
STATEMENT OF EXECUTIVE COMPENSATION
General
See Item 6B. Compensation of Directors and Executive Officers Cash Remuneration and Share
Based Remuneration and Item 6C. Board Practices Directors Agreements of Form 20-F.
Employment and Management Contracts
See Item 6C. Board Practices Employment Agreements of Form 20-F.
Compensation of Directors
See Item 6B. Compensation of Directors and Executive Officers Cash Remuneration and Item
6C Board Practices Directors Agreements of Form 20-F.
RELATED PARTY TRANSACTIONS
See Item 7. Major Shareholders and Related Party Transactions of Form 20-F.
INTEREST OF INSIDERS IN MATERIAL TRANSACTIONS
See Item 6C. Board Practices Interested Transactions and Item 7B. Related Party
Transactions of Form 20-F.
MATERIAL CONTRACTS
See Item 10C. Material Contracts of Form 20-F.
OTHER MATTERS
Shareholder Proposals
Shareholders must submit any shareholder proposal that they wish to be considered at the
annual meeting of shareholders of the Corporation in respect of the year ending December 31, 2008
to be held in 2009 no later than February 28, 2009. All shareholder proposals must comply with
Section 137 of the Canada Business Corporations Act.
Glossary
The term shareholder refers to a registered holder of common shares. The term common shares
refers to common shares in the capital stock of the Corporation excluding any restricted shares,
which are subject to restrictions on voting, dividend rights and transferability.
Date of Information
Except where noted, all information in this Circular is as of May 30, 2008.
APPROVAL OF CIRCULAR BY BOARD
The contents and the sending of this Circular have been approved by the Board.
DATED at Toronto, Canada this 30th day of May, 2008.
|
|
|
|
|
BY ORDER OF THE BOARD OF DIRECTORS |
|
|
|
|
|
/s/ Shawn (Xiaohua) Qu |
|
|
|
|
|
Shawn (Xiaohua) Qu
Chairman, President and Chief Executive Officer |
SCHEDULE A
CANADIAN SOLAR INC.
(the Corporation)
SPECIAL RESOLUTION OF SHAREHOLDERS RATIFYING AN
AMENDMENT TO BY-LAW NO. 1 OF THE CORPORATION
RESOLVED AS A SPECIAL RESOLUTION THAT the amendment of By-Law No. 1 of the Corporation to permit
the common shares of the Corporation to be issued, held and transferred in uncertificated form by
adding thereto Article Ten Share Certificates,
Registration and Transfer in
the form attached hereto as Exhibit 1 is ratified.
EXHIBIT 1 TO SPECIAL RESOLUTION OF SHAREHOLDERS RATIFYING AN AMENDMENT TO BY-LAW NO. 1 OF THE CORPORATION
ARTICLE TEN SHARE CERTIFICATES, REGISTRATION and TRANSFER
10.1 Share Certificates. Shares in the capital stock of the Corporation may be certificated or
uncertificated. Shareholders shall be entitled, at their option, to a share certificate, or to a
non-transferable written acknowledgement of their right to obtain a share certificate, stating the
number and class or series of shares held by them as shown on the securities register of the
Corporation. All share certificates and written acknowledgements shall be in such form as the
Board shall approve from time to time and signed in accordance with Section 2.02 but need not be
under the corporate seal of the Corporation. Unless the Board otherwise determines, share
certificates in respect of which a transfer agent and/or registrar has been appointed shall not be
valid unless countersigned by or on behalf of the transfer agent and/or registrar. The signatures
of the signing officers of the Corporation and, where required, the authorized signatories of the
transfer agent and/or registrar on share certificates or written acknowledgements may be printed or
mechanically reproduced. Every printed or mechanically reproduced signature shall for all purposes
be deemed to be the signature of the person whose signature is printed or reproduced.
10.2 Registration of Transfer. Subject to the provisions of the Act, no transfer of shares shall be
registered in a securities register except upon presentation of the certificate representing such
shares with a transfer endorsed thereon or delivered therewith duly executed by the registered
holder or by his attorney or successor duly appointed, or upon proper instructions from the holder
of uncertificated shares, in each case with such reasonable assurance or evidence of signature,
identification and authority to transfer as the Board may from time to time require, and upon
payment of all applicable taxes and any fees required by the Board.
EX-99.1 PRESS RELEASE
Exhibit 99.1
Passing the First Year Sarbanes-Oxley 404 Compliance Requirements
JIANGSU, China, June 5 /Xinhua-PRNewswire/ Canadian Solar Inc. (the Company, Canadian Solar,
or we) (Nasdaq: CSIQ) announced today that it filed its annual report on Form 20-F for the fiscal
year ended December 31, 2007 with the Securities and Exchange Commission (the SEC) on June 3,
2008, and has implemented internal controls over financial reporting in compliance with the
requirements for public companies per Section 404 of the Sarbanes- Oxley Act of 2002.
Dr. Shawn Qu, Chairman and CEO of Canadian Solar Inc. commented: 2007 was an excellent year for
CSI. During the year we saw significant revenue growth, expanded our customer base, and improved
our market penetration. In line with this growth, we worked hard throughout 2007 to ensure that our
internal control processes were positioned well for both the current state of business and future
expansion. Our first year of Sarbanes-Oxley compliance implementation has been a challenging but
rewarding process. We are pleased with our own management testing results. Our efforts in
maintaining an effective internal control structure will undoubtedly pay off in a long run.
About Canadian Solar Inc. (Nasdaq: CSIQ)
Founded in 2001, Canadian Solar Inc. (CSI) is a vertically integrated manufacturer of solar cell,
solar module and custom-designed solar application products serving customers worldwide. CSI is
incorporated in Canada and conducts all of its manufacturing operations in China. Backed by years
of experience and knowledge in the solar power market and the silicon industry, CSI has become a
major global provider of solar power products for a wide range of applications. For more
information, please visit http://www.csisolar.com.
For more information, please contact:
|
|
|
In Jiangsu, P.R. China
|
|
In the U.S. |
Alex Taylor, IR Director
|
|
Tyler Wilson |
Canadian Solar Inc.
|
|
The Ruth Group |
Tel: +86-512-6690-8088
|
|
Tel: +1-646-536-7018 |
Email: ir@csisolar.com
|
|
Email: twilson@theruthgroup.com |
Safe Harbor/Forward-Looking Statements
Certain statements in this press release including statements regarding expected future financial
and industry growth are forward-looking statements that involve a number of risks and uncertainties
that could cause actual results to differ materially. These statements are made under the Safe
Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you
can identify forward-looking statements by such terms as believes, expects, anticipates,
intends, estimates, the negative of these terms, or other comparable terminology. Factors that
could cause actual results to differ include general business and economic conditions and the state of the solar industry; governmental support
for the deployment of solar power; future shortage or availability of the supply of high-purity
silicon; demand for end-use products by consumers and inventory levels of such products in the
supply chain; changes in demand from significant customers, including customers of our silicon
materials sales; changes in demand from major markets such as Germany; changes in customer order
patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and
declines in average selling price; delays in new product introduction; continued success in
technological innovations and delivery of products with the features customers demand; shortage in
supply of materials or capacity requirements; availability of financing; exchange rate
fluctuations; litigation and other risks as described in the Companys SEC filings, including its
annual report on Form 20-F originally filed on May 29, 2007. Although the Company believes that the
expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future
results, level of activity, performance, or achievements. You should not place undue reliance on
these forward-looking statements. All information provided in this press release is as of todays
date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information,
except as required under applicable law.