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CHINA WOOD INTERNATIONAL HOLDING CO., LIMITED
中木國際控股有限公司
(Joint Provisional Liquidators appointed) (For restructuring purposes only)
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1822)
APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR
AND
CHANGES IN COMPOSITION OF BOARD COMMITTEES
The Board hereby announces that Mr. Wan has been appointed as an independent non-executive Director, a member of the Nomination Committee, a member of the Audit Committee and a member of the Remuneration Committee with effect from 31 March 2021.
The board (the "Board") of directors (the "Directors") of China Wood International Holding Co., Limited (the "Company") hereby announces that Mr. Wan ManWah ("Mr. Wan") has been appointed as an independent non-executive Director, a member of the Nomination Committee, a member of the Audit Committee and a member of the Remuneration Committee, all with effect from 31 March 2021. Set out below are the biographical details of Mr. Wan.
Mr. Wan, aged 53, is a certified public accountant (practising) in Hong Kong and is a fellow member of the Association of Chartered Certified Accountants and an associate member of the Hong Kong Institute of Certified Public Accountants. He obtained a Master of Science degree in Accounting from the Hong Kong Polytechnic University in 2006 and a Master of Science degree in Finance from City University of Hong Kong in 2011, with more than 30 years of experience in auditing, company secretarial and tax accounting. Mr. Wan was the company secretary of Anhui Tianda Oil Pipe Company Limited (Stock code: 0839.HK) from September 2008 to February 2012. He is now the shareholder and the executive director of E&W CPA Co. Limited mainly responsible for corporate auditing, company secretarial and tax consulting.
The Company will enter into a service agreement with Mr. Wan for an initial term of one year commencing from 31 March 2021, renewable automatically for a successive term of one year upon expiry of every term of his appointment, unless terminated in accordance with the terms of the service agreement. His appointment will be subject to retirement by rotation and eligible for re-election pursuant to the articles of association of the Company. Mr. Wan is entitled to an annual remuneration of HK$120,000, which was determined by the Board on recommendation of the Remuneration Committee of the Company with reference to his qualifications, experience, duties and responsibilities with the Company, as well as the Company's performance and the prevailing market conditions.
Save as disclosed above, as at the date of this announcement, Mr. Wan has not held any other major appointment. He did not hold any directorship in other listed public companies in the last three years. Mr. Wan does not have any relationship with any Director, senior management, substantial shareholders or controlling shareholders of the Company. He does not hold any position with the Company or with its subsidiaries. As at the date of this announcement, Mr. Wan does not have any interest in the shares or underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
Save as disclosed above, there are no other matters relating to the appointment of Mr. Wan that need to be brought to the attention of the Shareholders, nor is there any information in respect of Mr. Wan which is required to be disclosed under Rules 13.51(2)(h) to 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").
The Board would like to express its warmest welcome to Mr. Wan in joining the Company.
Following the appointment of Mr. Wan, the Board comprises three independent non-executive Directors and the Company has met the requirements of having at least three independent non- executive Directors on the Board under Rule 3.10(1) of the Listing Rules and the Audit Committee of the Company also comprises three independent non-executive directors as members to comply with Rule 3.21 of the Listing Rules.
By order of the Board
China Wood International Holding Co., Limited
中木國際控股有限公司
(Joint Provisional Liquidators appointed)
(For restructuring purposes only)
Lyu NingJiang
Chairman and Executive Director
Hong Kong, 31 March 2021
As at the date of this announcement, the Board comprises Mr. Lyu NingJiang (Chairman and CEO) as executive director, Mr. Hu YongGang as non-executive director; and Mr. Zhao XianMing, Mr. An Dong and Mr. Wan ManWah as independent non-executive directors.