17 Aug 2017

Change - Announcement Of Resignation Of A Non-Executive And Non-Independent Director

Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Aug 17, 2017 23:28
Status New
Announcement Sub Title Resignation of a Non-Executive and Non-Independent Director
Announcement Reference SG170817OTHR6TCT
Submitted By (Co./ Ind. Name) FANG MING
Designation Executive Chairman & Group CEO
Description (Please provide a detailed description of the event in the box below) Announcement of Resignation of a Non-Executive and Non-Independent Director who is a Member of the Remuneration Committee
Additional Details
Name Of Person Ai Yu
Age 34
Is effective date of cessation known? Yes
If yes, please provide the date 17/08/2017
Detailed Reason (s) for cessation Pursuant to the Share Subscription Agreement entered into with Everbright Hero Limited ("EHL") dated 30 June 2014, the Company is required to procure the appointment of two directors (one of whom shall be the Deputy Chairman) nominated by the EHL to the Company's Board within five business days from the Share Subscription Completion.

Everbright Hero Limited has nominated Mr Hu Bing to replace Mr Ai Yu as its nominee director on the Board of the Company.

The details of Mr Hu Bing's appointment are set out in a separate announcement as required under Rule 704(7) of the Listing Manual.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting? No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer? No
Any other relevant information to be provided to shareholders of the listed issuer? No
Date of Appointment to current position 23/09/2014
Does the AC have a minimum of 3 members (taking into account this cessation)? Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation) 2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months 1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) Non-Executive and Non-Independent Director, Member of Remuneration Committee
Role and responsibilities Non-Executive
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries None
Shareholding interest in the listed issuer and its subsidiaries? No
Past (for the last 5 years) (1) Chongqing Zheshang Xingyu Real Estate Limited Company;
(2) Dongzhaochangtai (Tianjin) Corporate Development Limited Company
Present Nil