Dear Shareholder:
Renewable Energy and Power, Inc. (“we,” “our,” or the “Company”) hereby gives notice to our stockholders that the holders of a majority of our outstanding shares of common stock, par value $0.001 per share (the “Common Stock”), have taken action by written consent to authorize our board of directors to (i) effectuate an amendment to our Certificate of Incorporation, as amended, to effectuate a reverse stock split of our issued and outstanding Common Stock by a ratio of one for two thousand (such that for every two thousand shares issued and outstanding prior to such split one share will remain after such split) with an anticipated effective date of November 17, 2018 (the “Reverse Stock Split”); and (ii) effectuate an amendment to our Certificate of Incorporation, as amended, to set our authorized Common Stock at 1,000,000,000 shares, also with an anticipated effective date of November 17, 2018 (the “Authorized Shares Amendment” and, together with the Reverse Stock Split, the “Corporate Actions”). A majority of our stockholders, and our Board unanimously, approved the Corporate Actions on August 28, 2018. The Corporate Actions are described in more detail in the accompanying Information Statement.
The majority stockholders have approved the Corporate Actions pursuant to Section 78.320 of the Nevada Revised Statues, which permits any action that may be taken at a meeting of the stockholders to be taken by the written consent to the action by the holders of the number of shares of voting stock required to approve the action at a meeting. All necessary corporate approvals in connection with the matters referred to in this Information Statement have been obtained. This Information Statement is being furnished to all of our stockholders as of October __, 2018, pursuant to Section 14(c) of the Securities and Exchange Act of 1934 (“Exchange Act”), and the rules thereunder, solely for the purpose of informing stockholders of these corporate actions before they take effect. In accordance with Rule 14c-2 under the Exchange Act, the stockholder consent will take effect 20 calendar days following the mailing of this Information Statement. The details of the foregoing actions and other important information are set forth in the accompanying Information Statement.
The Corporate Actions have been approved by our Board of Directors and the holders of more than a majority of the Company’s Common Stock outstanding, pursuant to Nevada law. Only stockholders of record at the close of business on October ___, 2018, are being given Notice of the Action by Written Consent. Proxies are not being solicited.
AI
