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SPT Energy Group Inc.
華油能源集團有限公司*
(incorporated in the Cayman Islands with limited liability)
(Stock Code: 1251)
APPOINTMENT OF EXECUTIVE DIRECTOR
The board of directors (the "Board") of SPT Energy Group Inc. (the "Company") announces that Mr. Wu Jiwei ("Mr. Wu") has been appointed as an executive director of the Company with effect from 26 March 2019.
Mr. Wu, aged 48, joined the Company on 25 September 2018. He serves as the senior vice president to assist the chief executive officer of the Company to expand the strategic blueprint and explore new markets and new businesses. Prior to joining the Company, Mr. Wu was the chairman of Dongxu Optoelectronic Technology Co., Ltd. (a company listed on the Shenzhen Stock Exchange, stock codes: 000413 and 200413) from April 2018 to August 2018. He was the chairman of the supervisory committee of China National Building Material Company Limited (a company listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"), stock code: 03323), from May 2016 to December 2017. He was the chief accountant of China National Building Material Group Co., Ltd. from March 2011 to May 2017, and the standing committee member of the party committee of such company from August 2016 to May 2017. He was the director of financial management centre of China Chengtong Holdings Group Limited from October 2008 to March 2011. Mr. Wu served the positions of general manager assistant and financial manager of China Petroleum International Engineering Ltd., chief accountant of China National Logging Corporation and deputy chief accountant of Engineering Technology Branch Company of China National Petroleum Corporation. Mr. Wu obtained a bachelor's degree in foreign enterprise accounting from Xi'an Shiyou University and received a master's degree in management from Central University of Finance and Economics. He is a senior accountant.
Save as mentioned above, Mr. Wu has not held any position with the Company or any other members of the Company together with its subsidiaries (the "Group") as at the date of this announcement.
As at the date of this announcement, Mr. Wu does not have any relationship with any directors, senior management, substantial or controlling shareholders (as defined in the Rules Governing the Listing of Securities (the "Listing Rules") on the Stock Exchange of the Company and he has not held any directorships in other listed public companies in Hong Kong or overseas in the last three years.
As at the date of this announcement, Mr. Wu is interested in 15,000,000 underlying shares of the Company in respect of the share options granted under the share option scheme adopted by the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
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The Company has entered into a service contract with Mr. Wu in respect of his appointment as an executive director of the Company with effect from 26 March 2019 for a term of 3 years, and he is subject to retirement by rotation and re-election in accordance with the Articles of Association of the Company. Mr. Wu is entitled to a basic salary of RMB2 million per annum and a discretionary bonus. The emoluments for Mr. Wu as an executive director of the Company were determined by the Board with reference to his responsibility, workload, time devoted, contribution to the Group, salaries paid by comparable companies and prevailing market conditions.
Save as disclosed above, there are no other matters that need to be brought to the attention of the Stock Exchange and the shareholders of the Company regarding the appointment of executive director nor is there any other information which is required to be disclosed pursuant to any requirements of Rule 13.51(2)(h) to 13.51(2)(v) of the Listing Rules.
The Board would like to take this opportunity to welcome Mr. Wu to his new position in the Group.
On behalf of the Board
SPT Energy Group Inc.
Mr. Wang Guoqiang
Chairman
Hong Kong, 26 March 2019
As of the date of this announcement, the executive directors are Mr. Wang Guoqiang, Mr. Ethan Wu, Mr. Li Qiang and Mr. Wu Jiwei , the non-executive director is Ms. Chen Chunhua, and the independent non-executive directors are Ms. Zhang Yujuan, Mr. Wu Kwok Keung Andrew and Mr. Wan Kah Ming.
* For identification purpose only
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