CHINA LUMENA NEW MATERIALS CORP 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 document.
(In Provisional Liquidation)(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 67) RESIGNATIONS OF INDEPENDENT NON-EXECUTIVE DIRECTORS
China Lumena New Materials Corp. (In Provisional Liquidation) (the "Company")
announces that:
(1) Mr. Au Kin Wah (''Mr. Au") resigned from his position as an independent non-executive director due to health reasons with effect from 15 June 2015. Upon his resignation, he has ceased to be a member of the audit committee and chairman of the remuneration committee of the Company.
(2) Mr. Koh Tiong Lu John ("Mr. Koh") resigned from his position as an independent non-executive director with effect from 16 June 2015. Upon his resignation, he has ceased to be chairman of the audit committee and a member of the nomination committee of the Company.
(3) Mr. Wong Chun Keung ("Mr. Wong") resigned from his position as an independent non-executive director with effect from 15 June 2015. Upon his resignation, he has ceased to be a member of the audit committee, chairman of the nomination committee and a member of the remuneration committee of the Company.
Mr. Au has confirmed that he has no disagreement with the Board and there is no matter in respect of his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited. Mr. Koh and Mr. Wong have not stated the reasons for their resignation in their resignation letters. The Company is making enquiries into the reasons for their resignation.
The Company would like to express its gratitude to Mr. Au, Mr. Koh and Mr. Wong for their contribution to the Company during their tenure of office.
Following the resignation of Mr. Au, Mr. Koh and Mr. Wong, (i) the number of independent non-executive directors will fall below the minimum number required
under Rule 3.10(1) and 3.10A of the Rules Governing the Listing of Securities on the Stock Exchange ("the Listing Rules"); and (ii) the number of members of the audit committee will fall below the minimum number required under Rule 3.21 of the Listing Rules.
The Company is endeavouring to identify suitable candidates to fill up the vacancies of independent non-executive directors as soon as practicable as required under Rule
3.11 of the Listing Rules. The suitable candidates identified by the Company will also
fill the vacancies in the audit committee, remuneration committee and nomination committee. Further announcement(s) will be made by the Company in this regard as and when appropriate.
Trading in the shares on the Main Board of The Stock Exchange of Hong Kong Limited has been suspended with effect from 10:56 a.m. on 25 March 2014 and will remain suspended until further notice.
For and on behalf of
Joint Provisional Liquidators
Acting as agents without personal liability
Hong Kong, 2 July 2015
As at the date of this announcement, the Board is comprised of three executive directors: Mr. Zhang Zhigang, Mr. Zhang Daming and Mr. Shi Jianping.
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