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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.
ZHEJIANG EXPRESSWAY CO., LTD.
(A joint stock limited company incorporated in
the People's Republic of China
with limited liability)
(Stock code: 0576)
RESIGNATION OF EXECUTIVE DIRECTOR, RESIGNATION
AND
APPOINTMENT OF NON-EXECUTIVE DIRECTORS AND
INDEPENDENT NON-EXECUTIVE DIRECTOR
RESIGNATION OF EXECUTIVE DIRECTOR,
RESIGNATION AND APPOINTMENT OF NON-EXECUTIVE DIRECTORS AND
INDEPENDENT NON-EXECUTIVE DIRECTOR
Reference is made to the announcement of the Company dated December
22, 2017, in relation to the resignation of Mr. Zhou Jianping as a
non-executive director, a member of Audit Committee and
Remuneration Committee of the Company.
Mr. Zhan, Mr. Wang and Mr. Zhou have resigned as an executive
director, non-executive director and independent non-executive
director of the Company, respectively. Mr. Yu Zhihong, Mr. Yu Ji
and Mr. Yu Qunli are proposed to be appointed as non-executive
directors and Mr. Chen is proposed to be appointed as an
independent non-executive director of the Company, subject to
approval by the Shareholders at the upcoming EGM of the
Company. |
RESIGNATION OF EXECUTIVE DIRECTOR
Mr. Zhan Xiaozhang ("Mr. Zhan") resigns from his
position as an executive director, the chairman of the Board, the
chairman of Nomination Committee and Strategic Committee of
Zhejiang Expressway Co., Ltd. (the "Company") due to other
work commitment.
Mr. Zhan confirmed that he had no disagreement with the board of
directors of the Company (the "Board") and there were no
other matters in respect of his resignation that need to be brought
to the attention of the shareholders (the "Shareholders")
and creditors of the Company. Mr. Zhan will remain as director
until Mr. Yu Zhihong's appointment
as a non-executive director is approved at the extraordinary
general meeting of the Company (the "EGM").
The Board would like to take this opportunity to express its
appreciation for Mr. Zhan's valuable contribution to the
development of the Company during his tenure of services.
RESIGNATION AND APPOINTMENT OF NON-EXECUTIVE
DIRECTORS
Reference is made to the announcement of the Company dated
December 22, 2017 in relation to the
resignation of Mr. Zhou Jianping as
a non-executive director, a member of Audit Committee and
Remuneration Committee of the Company.
Mr. Wang Dongjie ("Mr. Wang") resigns from his
position as a non-executive director and a member of the Audit
Committee of the Company due to other work commitment.Mr. Wang
confirmed that he had no disagreement with the Board and there were
no other matters in respect of his resignation that need to be
brought to the attention of the Shareholders and creditors of the
Company. Mr. Wang will remain as director until Mr. Yu Ji's appointment as a non-executive director
is approved at the EGM.
The Board would like to take this opportunity to express its
appreciation for Mr. Wang's valuable contribution to the
development of the Company during his tenure of services.
Mr. Yu Zhihong is the newly
nominated candidate for election as a non-executive director of the
Company.
Mr. Yu Zhihong, born in
April 1964, is a graduate from the
Department of Electro-mechanic Engineering, Zhejiang University, and holds a Master's
Degree in management from the Management Institute of Zhejiang University. Starting from 1985, Mr.
Yu Zhihong worked at Xiushui Town of
Jiaxing City as Deputy Manager of Township Industrial Company and
Deputy Head of Township, from 1987 at Central District of Jiaxing
City as Secretary to District Office, Secretary of the Youth
League, Deputy Party Secretary and Party Secretary of Tanghui Town,
from 1995 working as Deputy Director, Deputy Party Secretary,
Director and then Party Secretary of Management Committee for the
Economic Development Zone of Jiaxing City, from 2005 as Party
Secretary of Haining City and as Member of Party Standing Committee
of Jiaxing City, from 2010 as Deputy May or of Hangzhou City, Pa rty Secretar y of Qianjiang
New Development Zone's Construction Committee, and then Party
Secretary of Xiaoshan District, Member of Party Standing Committee
of Hangzhou City, before he became
the Deputy Party Secretary and then Mayor of Shaoxing City in 2013.
Mr. Yu Zhihong assumed the position
of Chairman and Party Secretary of Zhejiang Communications
Investment Group Co., Ltd. since 2016, and became Member of
Provincial Party Committee since June
2017.
Mr. Yu Ji is the newly nominated
candidate for election as a non-executive director of the
Company.
Mr. Yu Ji, born in December
1975, is an engineer. He graduated from Zhejiang
University with a Master's Degree in Structure Engineering. Mr.
Yu Ji began his career at Jinwen
Railroad Engineering Construction Project Management Division
(Qingtian County Lianggang section) and General Headquarter from
1996, worked at Zhejiang Local Railroad Survey and Design Bureau
and Zhejiang Tiezi Engineering Co., Ltd. from 1998, and became a
Structure Design Engineer at Zhejiang Urban Construction Design and
Research Institute from 2005. Starting from 2007, Mr. Yu Ji worked as staff, Deputy Manager and then
Manager at Project Management Department of Zhejiang Railroad
Investment Group Co., Ltd., and became General Manager of Railroad
Project Department in 2015, Manager of Communications Investment
Department of Zhejiang Communications Investment Group Co., Ltd. in
2016. Since 2018, Mr. Yu Ji became
General Manager of Strategic Development and Legal Affairs
Department of Zhejiang Communications Investment Group Co.,
Ltd.
Mr. Yu Qunli is the newly nominated candidate for election as a
non-executive director of the Company.
Mr. Yu Qunli, born in April 1968,
graduated from Xi'an Roadway Institute with a Bachelor's Degree in
Roads and Bridges Engineering. Mr. Yu Qunli also holds a Master's
Degree in Structure Engineering and a MBA Degree in Business
Administration, both from Zhejiang
University. Mr. Yu Qunli started his career in 1990 at Zhejiang
Provincial Roads and Bridges Bureau and Zhejiang Communications
Engineering Construction Group Co., moved to Zhejiang
Communications Engineering Group Co., Ltd. in 2000, and to Zhejiang
Communications Investment Group Co., Ltd. in 2002. Starting from
2005, Mr. Yu Qunli served as Deputy General Manager at Zhejiang
Zhoushan Continent to Island Construction Expressway Co., Ltd., and
from 2006, as Deputy General Manager at Zhejiang Ningbo Yongtaiwen
Expressway Co., Ltd. and Zhejiang Zhoushan Bay Bridge Co., Ltd.
Beginning from 2010, Mr. Yu Qunli served as Deputy Manager of
Safety Management Department and Manager of Safety Monitoring
Management Department at Zhejiang Communications Investment Group
Co., Ltd. He served as General Manager at Zhejiang Ningbo
Yongtaiwen Expressway Co., Ltd. in 2013, and as General Manager at
Zhejiang Taizhou Expressway Co., Ltd. and Zhejiang Zhoushan Bay
Bridge Co., Ltd. Since 2015, Mr. Yu Qunli served as General Manager
of Expressway Operations Management Department at Zhejiang
Communications Investment Group Co., Ltd., and as General Manager
at Communications Operations Management Department since 2016.
Mr. Yu Zhihong, Mr. Yu Ji and Mr. Yu Qunli have not held any
directorship in other public listed companies during the last three
years, nor do they hold any other positions with the Company and
other members of the Company's group.
Mr. Yu Zhihong, Mr. Yu Ji and Mr. Yu Qunli have no interest in the
shares of the Company within the meaning of Part XV of the
Securities and Futures Ordinance as at the date hereof. Save as
disclosed herein, Mr. Yu Zhihong,
Mr. Yu Ji and Mr. Yu Qunli do not
have any relationship with any other director, senior management,
substantial shareholders or controlling shareholders of the
Company.
Mr. Yu Zhihong, Mr. Yu Ji and Mr. Yu Qunli have yet to enter into
any service contract with the Company or its subsidiaries. Mr.
Yu Zhihong, Mr. Yu Ji and Mr. Yu Qunli have also been nominated
by the Nomination and Remuneration Committee of the Company to hold
the post of non-executive directors of the Company commencing on
upon approval by the EGM and expiring on the date of expiry of the
term of the seventh session of the Board. Non-executive directors
do not receive any fixed remunerations from the Company, though all
non-executive directors are provided with allowances that are
subject to their levels of participation in the Company's meetings
as determined by the Board at their discretion and there are no
applicable scale for determining such remuneration.
Save as disclosed above, there is no other matter concerning Mr.
Yu Zhihong, Mr. Yu Ji and Mr. Yu Qunli that is required to be
brought to the attention of the Shareholders nor any information to
be disclosed pursuant to the requirements under Rule 13.51(2)(h) to
(v) of the Listing Rules.
RESIGNATION AND APPOINTMENT OF INDEPENDENT
NON-EXECUTIVE DIRECTOR
Mr. Zhou Jun ("Mr.
Zhou") resigns from his position as independent non-executive
director, the chairman of Audit Committee, a member of Nomination
Committee and Remuneration Committee of the Company due to other
work commitment.
Mr. Zhou confirmed that he had no disagreement with the Board
and there were no other matters in respect of his resignation that
need to be brought to the attention of the Shareholders and
creditors of the Company. Mr. Zhou will remain as director until
Mr. Chen Bin's ("Mr. Chen") appointment as an
independent non-executive director is approved at the EGM.
The Board would like to take this opportunity to express its
appreciation for Mr. Zhou's valuable contribution to the
development of the Company during his tenure of services.
Mr. Chen is the newly nominated candidate for election as an
independent non-executive director of the Company. Mr. Chen has met
the independence requirements as set out in Rule 3.13 of the
Listing Rules.
Mr. Chen, born in August 1967, is
a graduate from University of South
China in computer science. He also holds a second Bachelor's
degree from Chongqing University
in management engineering. Mr. Chen worked at Tianshi Network
Company of TCL Group as Deputy General Manager from 1998 to 2004,
at Webex Group as General Manager of China Investment from 2005 to
2006, and at Cybernaut China Investment Fund as Senior Partner from
2007 to 2008. Mr. Chen became Chief Executive and Funding Partner
of Zhejiang Cybernaut Investment Management Co., Ltd. since 2008.
Mr. Chen also serves as Director at Sundy Land Investment Co.,
Ltd., (a company listed on Shanghai Stock Exchange, SH Stock Code:
600077) and Shenzhen Fountain Corporation (a company listed on
Shenzhen Stock Exchange, SZ Stock Code: 000005).
Save as disclosed above, Mr. Chen has not held any directorship
in other public listed companies during the last three years, nor
does he hold any other positions with the Company and other members
of the Company's group.
Mr. Chen has no interest in the shares of the Company within the
meaning of Part XV of the Securities and Futures Ordinance as at
the date hereof. Save as disclosed herein, Mr. Chen does not have
any relationship with any other director, senior management,
substantial shareholders or controlling shareholders of the
Company.
Mr. Chen has yet to enter into any service contract with the
Company or its subsidiaries. Mr. Chen has also been nominated by
the Nomination and Remuneration Committee of the Company to hold
the post of independent non-executive director of the Company upon
approval by the EGM and expiring on the date of expiry of the term
of the seventh session of the Board. Independent non-executive
directors do not receive any fixed remunerations from the Company,
though all independent non-executive directors are provided with
allowances that are subject to their levels of participation in the
Company's meetings as determined by the Board at their discretion
and there are no applicable scale for determining such
remuneration.
Save as disclosed above, there is no other matter concerning Mr.
Chen that is required to be brought to the attention of the
Shareholders nor any information to be disclosed pursuant to the
requirements under Rule 13.51(2)(h) to (v) of the Listing
Rules.
Details of changes in the membership of the Board committees
will be reflected in the list of directors announcement of the
Company after the EGM.
By Order of the
Board
Zhejiang Expressway Co.,
Ltd.
Tony
Zheng
Company
Secretary
Hangzhou, the PRC, February 14, 2018
As at the date of this announcement, the executive
directors of the Company are:
Mr. ZHAN Xiaozhang, Mr. CHENG Tao and Ms. LUO Jianhu; the
non-executive directors of the Company are: Mr. WANG Dongjie and
Mr. DAI Benmeng; and the independent non-executive directors of the
Company are: Mr. ZHOU Jun, Mr. PEI Ker-Wei and Ms. LEE Wai Tsang,
Rosa.