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ANNOUNCEMENT RESIGNATION OF EXECUTIVE DIRECTOR AND - Hsin Chong

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									            HSIN CHONG CONSTRUCTION GROUP LTD.
            (Incorporated in Bermuda with limited liability)
            (Stock Code: 00404)




                                     ANNOUNCEMENT
             RESIGNATION OF EXECUTIVE DIRECTOR
                  AND ALTERNATE DIRECTOR

The board of directors (the “Board”) of Hsin Chong Construction Group Ltd. (hereinafter referred to as
the “Company”, and together with its subsidiaries, referred to collectively as the “Group”) announces
that with effect from 28 December 2007, Mr. YEH V-nee resigned as an executive director and a
member of the remuneration committee of the Company, and Mr. Barry John BUTTIFANT resigned as
an alternate director and a member of the executive committee of the Company.


RESIGNATION OF EXECUTIVE DIRECTOR AND ALTERNATE
DIRECTOR
The Board announces that with effect from 28 December 2007 (i.e. the date immediately after the
closing date of the mandatory unconditional cash offers made by Carrick Worldwide Limited, a
controlling shareholder of the Company, to acquire all the shares of the Company not already owned
and/or agreed to be acquired by it and parties acting in concert with it and to cancel all the outstanding
share options of the Company), Mr. YEH V-nee resigned as an executive director of the Company, and
Mr. Barry John BUTTIFANT resigned as an alternate director to Mr. YEH V-nee.

The Board confirms that there are no disagreements with Mr. YEH V-nee and Mr. Barry John
BUTTIFANT, nor are there any matters which are needed to be brought to the attention of the
shareholders of the Company in respect of the resignation of Mr. YEH V-nee and Mr. Barry John
BUTTIFANT.

Mr. YEH V-nee joined the Group in 1991 and took over the position as the chairman of the Board from
2002 up to 18 December 2007. In the last five years, the Group had experienced the most testing period
for the construction industry in the recent history of Hong Kong. Mr. YEH V-nee has tirelessly led the
Group to overcome different challenges. The Board would like to express its heartfelt thanks to Mr.
YEH V-nee for his leadership and contributions to the Group during his tenure of services.

The Board would also like to express its gratitude to Mr. Barry John BUTTIFANT for his contributions
to the Group during his tenure of services.

                                                     -1-
CHANGE OF MEMBERS OF THE REMUNERATION COMMITTEE
The Board also announces that Mr. YEH V-nee resigned as a member of the remuneration committee
of the Company with effect from 28 December 2007, and that Mr. CHAN Ka-kui, an executive director
and the managing director of the Company, was appointed a member of the remuneration committee of
the Company with effect from the same date in order to fill the vacancy caused by the resignation of
Mr. YEH V-nee.

CHANGE OF MEMBERS OF THE EXECUTIVE COMMITTEE
The Board further announces that Mr. Barry John BUTTIFANT resigned as a member of the executive
committee of the Company with effect from 28 December 2007, and that Mr. WONG Ying-wai, an
executive director and the deputy chairman of the Company, was appointed a member of the executive
committee of the Company with effect from the same date.

PUBLICATION OF THIS ANNOUNCEMENT
This announcement is published on the Company’s website at http://www.hsinchong.com under
‘‘Investor Relations’’ and the website of Hong Kong Exchanges and Clearing Limited at
www.hkex.com.hk under ‘‘Latest Listed Company Information’’.


                                                              By order of the Board
                                                       Hsin Chong Construction Group Ltd.
                                                                 CHAN Ka-kui
                                                               Managing Director


Hong Kong, 28 December 2007

Website: http://www.hsinchong.com




                                                -2-
As at the date of this announcement, the Board comprises Mr. WONG Ying-wai (deputy chairman) and Mr.
CHAN Ka-kui (managing director) as executive directors; Dr. David CHU Shu-ho (chairman) and Dr. Kenneth
CHU Ting-kin as non-executive directors; and Mr. Tobias Josef BROWN, Mr. Herbert HUI Ho-ming, Mr.
Jeffrey LAM Kin-fung and Mr. Peter LAU Kwok-kuen as independent non-executive directors.

As at the date of this announcement, the remuneration committee of the Company comprises three members,
namely, Mr. Tobias Josef BROWN, Mr. Herbert HUI Ho-ming and Mr. CHAN Ka-kui.

As at the date of this announcement, the executive committee of the Company comprises four members, namely,
Mr. WONG Ying-wai, Mr. CHAN Ka-kui, Mr. LAW Wai-tai (director of certain subsidiaries of the Group) and
Mr. Charles KAM Yuk-fai (the qualified accountant of the Company and the financial controller of the Group).

* For identification purpose only




                                                    -3-

								
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