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 announcement.
- CHANGE OF EXECUTIVE DIRECTOR, MEMBER OF THE EXECUTIVE COMMITTEE AND
LISTING RULES AUTHORISED REPRESENTATIVE
AND
- RESIGNATION OF CHIEF FINANCIAL OFFICER AND COMPANY SECRETARY, LISTING RULES AUTHORISED
REPRESENTATIVE AND AUTHORISED PERSON TO ACCEPT SERVICES OF PROCESS AND NOTICES ON THE COMPANY'S BEHALF IN HONG KONG
AND
-
APPOINTMENT OF LISTING RULES AUTHORISED REPRESENTATIVE
AND - APPOINTMENT OF CHIEF FINANCIAL OFFICER AND AUTHORISED PERSON TO ACCEPT SERVICE OF PROCESS AND
NOTICES ON THE COMPANY'S BEHALF IN HONG KONG
The Board announces that with effect from 20 September 2019:
(A1) Ms. DENG Chengying has resigned as an executive director, a member of the Executive Committee of the Company and an authorised representative of the Company under Rule 3.05 of the Listing Rules;
(A2) Mr. SIU Chi Hung has been appointed as an executive director, a member of the Executive Committee of the Company and an authorised representative of the Company under Rule 3.05 of the Listing Rules;
- Ms. CHAN Hiu Mei has resigned as the chief financial officer and company secretary of the Company, an authorised representative of the Company under Rule 3.05 of the Listing Rules and person authorised to accept services of process and notices on the Company's behalf in Hong Kong;
- Mr. TANG Shouchun, chief executive officer and executive director of the Company, has been appointed as an authorised representative of the Company under Rule 3.05 of the Listing Rules; and
- Mr. CHAN Kin Man, has been appointed as the chief financial officer and the person authorised to accept service of process and notices on the Company's behalf in Hong Kong.
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The board (the "Board") of directors (the "Directors") of LVGEM (China) Real Estate Investment Company Limited (the "Company", together with its subsidiaries, the "Group"), announces the following changes to the Board and management of the Company:-
(A1) RESIGNATION OF EXECUTIVE DIRECTOR, MEMBER OF THE EXECUTIVE COMMITTEE AND LISTING RULES AUTHORISED REPRESENTATIVE
Ms. DENG Chengying ("Ms. Deng") has resigned as an executive director of the Company with effect from 20 September 2019 to allow her to devote more time on the projects and business of the group.
As a result of Ms. Deng's resignation, Ms. Deng has also ceased to be a member of the executive committee of the Company (the "Executive Committee") and an authorised representative of the Company (the "Listing Rules Authorised Representative") under Rule 3.05 of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited.
Ms. Deng has confirmed that she has no disagreement with the Board and there is no matter relating to her resignation that needs to be brought to the attention of the shareholders of the Company.
The Board would like to express its sincere gratitude and appreciation to Ms. Deng for her valuable contributions to the Group during her terms of office.
(A2) APPOINTMENT OF EXECUTIVE DIRECTOR, MEMBER OF THE EXECUTIVE COMMITTEE AND LISTING RULES AUTHORISED REPRESENTATIVE
The Board is pleased to announce the appointment of Mr. SIU Chi Hung ("Mr. Siu") as an executive director, a member of the Executive Committee of the Company and a Listing Rules Authorised Representative with effect from 20 September 2019.
Mr. Siu Chi Hung, aged 48, obtained a bachelor's degree in Business Administration from the Chinese University of Hong Kong in 1994. Mr. Siu joined KPMG (Hong Kong) in 1994 and became a partner in 2008. He was the Head of Real Estate of KPMG (China) and the Head of Capital Markets development, Southern China of KPMG (China) before his retirement in June 2018. Mr. Siu is a non-practising member of the Hong Kong Institute of Certified Public Accountants, a member of the American Institute of Certified Public Accountants and a member of the Hong Kong Independent Non-Executive Director Association.
Mr. Siu has entered into a service agreement (the "Service Agreement") with the Company for a term of 24 months commencing on 20 September 2019 and ending on 19 September 2021. He is subject to retirement from office and re-election at the next general meetings of the Company after his appointment, and subsequent retirement from office and re-election at the annual general meeting of the Company and vacation of office in accordance with the articles of association of the Company and any applicable laws and rules. Pursuant to the Service Agreement, Mr. Siu will be entitled to receive basic salary of HK$1,800,000 per annum, which was determined by the remuneration committee and approved by the Board with reference to his experience, duties and responsibilities in the Company as well as the current market rate. It is proposed that, under the Service Agreement, Mr. Siu will also be entitled to other discretionary bonus as well as to participate in other incentive schemes such as share option scheme of the Company on such terms as may be determined, authorized and/or approved by the Group from time to time.
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Mr. Siu has not held any directorship in listed public companies in Hong Kong or overseas during the past three years, and does not have any relationship with any directors, senior management or substantial or controlling shareholders of the Company.
As at the date of this announcement, Mr. Siu does not have any interests in the shares, underlying shares or debentures of the Company (within the meaning of Part XV of the Securities and Futures Ordinance).
There is no other information related to Mr. Siu that needs to be disclosed pursuant to Rules 13.51(2)(h) to 13.51(2)(v) of the Listing Rules, and there is no other matter which needs to be brought to the attention of the shareholders of the Company in relation to the appointment of Mr. Siu as an executive director of the Company.
The Board would like to welcome Mr. Siu in joining the Board.
-
RESIGNATION OF CHIEF FINANCIAL OFFICER AND COMPANY SECRETARY, LISTING RULES AUTHORISED REPRESENTATIVE AND AUTHORISED PERSON TO ACCEPT SERVICES OF PROCESS
AND NOTICES ON THE COMPANY'S BEHALF IN HONG KONG
Ms. CHAN Hiu Mei ("Ms. Chan") has tendered her resignation as the chief financial officer and company secretary of the Company, a Listing Rules Authorised Representative and person authorised to accept services of process and notices on the Company's behalf in Hong Kong pursuant to Rule 19.05(2) of the Listing Rules with effect from 20 September 2019.
The Company has identified potential candidates in the Group to fill the vacancy of company secretary of the Company in compliance with the requirement of Rule 3.28 of the Listing Rules. Further announcement(s) will be made by the Company upon such appointment.
The Board would like to take this opportunity to express its gratitude to Ms. Chan for her valuable contribution to the Company during her tenure of service. - APPOINTMENT OF LISTING RULES AUTHORISED REPRESENTATIVE
Mr. TANG Shouchun, chief executive officer and executive director of the Company, has been appointed as a Listing Rules Authorised Representative with effect from 20 September 2019 to fill the vacancy following Ms. Chan's cessation to act in the same capacity as mentioned above. - APPOINTMENT OF CHIEF FINANCIAL OFFICER AND AUTHORISED PERSON TO ACCEPT SERVICE OF PROCESS AND NOTICES ON THE
COMPANY'S BEHALF IN HONG KONG
Mr. CHAN Kin Man ("Mr. Chan") has been appointed as the chief financial officer of the Company and the person authorised to accept service of process and notices on the Company's behalf in Hong Kong with effect from 20 September 2019 to fill the vacancy following Ms. Chan's cessation to act in the same capacity as mentioned above.
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Mr. Chan, aged 39, was the director of investor relations and head of corporate finance of the Company. He is responsible for overseeing the financing and investor' relationships matters of the Company. Mr. Chan is a member of the Association of Chartered Certified Accountants. Mr. Chan graduated from the Hong Kong Polytechnic University with a Bachelor of Arts degree in Accountancy. He joined the Group in 2016 and has over 16 years of experience in corporate finance, accounting and auditing.
The Board would like to extend its warm welcome to Mr. Chan on his appointment as the chief financial officer of the Company.
By order of the Board
LVGEM (China) Real Estate Investment Company Limited
HUANG Jingshu
Chairman
Hong Kong, 20 September 2019
As at the date of this announcement, the executive directors of the Company are Ms. HUANG Jingshu (Chairman), Mr. TANG Shouchun (Chief Executive Officer), Mr. YE Xingan, Mr. SIU Chi Hung and Mr. HUANG Hao Yuan; the non-executive director of the Company is Ms. LI Lihong; and the independent non-executive directors of the Company are Mr. WANG Jing, Ms. HU Gin Ing and Mr. MO Fan.
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