Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
SKYOCEAN INTERNATIONAL HOLDINGS LIMITED天洋國際控股有限公司
(Incorporated in Bermuda with limited liability)
(Stock Code: 593) APPOINTMENT OF EXECUTIVE DIRECTOR AND VICE CHAIRMAN AND RESIGNATION OF EXECUTIVE DIRECTOR APPOINTMENT OF EXECUTIVE DIRECTOR AND VICE CHAIRMAN AND RESIGNATION OF EXECUTIVE DIRECTORThe Board announces that with effect from 18 January 2017:
Mr. Lam Yu Yee, Benjamin has been appointed as executive Director and Vice Chairman of the Company; and
Mr. Zhu Ling has resigned as executive Director of the Company.
The Board (the "Board") of directors (the "Directors") of SkyOcean International Holdings Limited (the "Company") is pleased to announce that with effect from 18 January 2017, Mr. Lam Yu Yee, Benjamin ("Mr. Lam") has been appointed as executive Director and Vice Chairman of the Company.
Mr. LamMr. Lam, aged 55, was appointed as Executive Director and Vice Chairman of the Board of the Company in January 2017.
Mr. Lam was the Executive Director and Deputy Chief Executive Officer of Pacific Century Premium Developments Limited ("PCPD"), a property developer listed in Hong Kong. Mr. Lam served the company between 2004 to 2015.
Prior to joining PCPD in 2004, Mr. Lam was Chief Financial Officer of Asia Pacific Resources International Limited in Singapore in 2003 and was appointed as President of China Operations in April 2004.
Between 1999 to 2003, Mr. Lam was Executive Director and Group Chief Financial Officer of Sino Land Company Limited, a major property developer in Hong Kong.
Prior to joining Sino Land Company Limited, he had worked in various investment banks and financial institutions for over twelve years and has substantial experience in corporate finance and investment banking.
Mr. Lam holds a Bachelor of Science degree in Industrial Engineering from the University of Hong Kong and a Master of Business Administration degree from the Manchester Business School.
Mr. Lam has entered into a service agreement with the Company for a term of 3 years commencing from 18 January 2017, pursuant to which Mr. Lam shall hold office until the next annual general meeting of the Company and thereafter shall be subject to retirement by rotation and re-election at the Company's annual general meeting in accordance with the Bye-laws of the Company. Mr. Lam is entitled to a director's fee of HK$120,000 per annum which is determined by arm's length negotiation between Mr. Lam and the Company and with reference to his duties and responsibilities. The amount of the remuneration has been approved by the Board and the remuneration committee of the Company.
Save as disclosed above, as at the date of this announcement, Mr. Lam (i) did not held any other directorships in any public listed companies in the past three years; (ii) does not have any relationship with any Directors, senior management or substantial or controlling shareholders of the Company; (iii) does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong); and (iv) does not hold any position with the Company or any members of the Group.
Save as disclosed herein, there is no other information to be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and there are no matters in connection with Mr. Lam's appointment that need to be brought to the attention of the shareholders of the Company.
The Board would like to welcome Mr. Lam for joining the Board.
RESIGNATION OF EXECUTIVE DIRECTORThe Board announces that Mr. Zhu Ling ("Mr. Zhu") has tendered his resignation as executive Director with effect from 18 January 2017 to concentrate on his other works commitments.
Mr. Zhu has confirmed that he has no disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of the Stock Exchange and the shareholders of the Company.
The Board would like to take this opportunity to express its sincere gratitude to Mr. Zhu for his valuable contribution to the Company in the past.
An updated list of Directors and their roles and functions including the composition of each of the committees of the Board is also made available on the websites of the Stock Exchange and the Company on the date of this announcement.
By Order of the Board of
SkyOcean International Holdings Limited Zhou ZhengChairman and Chief Executive Director
Hong Kong, 18 January 2017
As at the date of this announcement, the Board comprises Mr. Zhou Zheng (Chairman and Chief Executive Officer), Mr. Lam Yu Yee, Benjamin (Vice Chairman), Mr. Yang Hongguang, Mr. Lin Guoxiong and Mr. Chan Tak Kwong being the executive Directors, and Mr. Li Chak Hung, Dr. Meng Xiaosu, Mr. Yang Buting and Mr. Zhao Daxin being the independent non-executive Directors.
SkyOcean International Holdings Limited published this content on 18 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 18 January 2017 08:51:03 UTC.
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