Mongolia Investment Group Ltd. : Resignation of an Independent Non-Executive Director, a Member of Audit Committee and Chairman of Nomination and Remuneration Committees
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.
(incorporated in the Cayman Islands with limited liability)(Stock code: 402) RESIGNATION OF AN INDEPENDENT NON-EXECUTIVE DIRECTOR, A MEMBER OF AUDIT COMMITTEE ANDCHAIRMAN OF NOMINATION AND REMUNERATION COMMITTEES
The board of directors (the "Board") of Mongolia Investment Group Limited (the "Company") announces that Mr. Chan, Sai Kit Kevin ("Mr. Chan") has resigned as an independent non-executive director, a member of audit committee and chairman of the nomination committee and the remuneration committee of the Company with effect from 28 January 2013.
Mr. Chan has confirmed that his resignation is due to other business engagements, which require more of his dedication. Mr. Chan has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company. The Board takes this opportunity to express its appreciation to Mr. Chan for his contributions during his tenure with the Company.
Following the resignation of Mr. Chan, the number of independent non-executive directors of the Company falls below the minimum number required under Rule 3.10A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the required composition of the nomination committee and the remuneration committee of the Company falls below the requirements under Rule 3.25 and Rule A.5.1 of Appendix 14 of the Listing Rules.
The Board will appoint appropriate person(s) to fill the vacancies as soon as possible within three months from 28 January 2013 pursuant to the Rule 3.11 of the Listing Rules.
For and on behalf of the Board Mongolia Investment Group Limited Zhu Dong
Executive Director
Hong Kong, 29 January 2013
As at the date of this announcement, the executive directors are Mr. YUEN Chow Ming (Chairman), Mr. YUEN Wai Keung (Deputy Chairman and Chief Executive Officer), Mr. SO Yiu Cheung (Deputy Chairman), Mr. CHEUNG Chi Man, Dennis, Mr. LEUNG, Chun Tak Barry, Mr. ZHANG Chuanjun and Mr. ZHU Dong, the non-executive directors are Mr. WONG, Kwok Kee and Mr. NG, Wing Keung, and the independent non-executive directors are Mr. LIAO Cheung Tin, Stephen, Mr. TAM Tsz Kan, Mr. HUI Yat On and Mr. TAM Sun Wing.
(incorporated in the Cayman Islands with limited liability)(Stock code: 402) RESIGNATION OF AN INDEPENDENT NON-EXECUTIVE DIRECTOR, A MEMBER OF AUDIT COMMITTEE ANDCHAIRMAN OF NOMINATION AND REMUNERATION COMMITTEES
The board of directors (the "Board") of Mongolia Investment Group Limited (the "Company") announces that Mr. Chan, Sai Kit Kevin ("Mr. Chan") has resigned as an independent non-executive director, a member of audit committee and chairman of the nomination committee and the remuneration committee of the Company with effect from 28 January 2013.
Mr. Chan has confirmed that his resignation is due to other business engagements, which require more of his dedication. Mr. Chan has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company. The Board takes this opportunity to express its appreciation to Mr. Chan for his contributions during his tenure with the Company.
Following the resignation of Mr. Chan, the number of independent non-executive directors of the Company falls below the minimum number required under Rule 3.10A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the required composition of the nomination committee and the remuneration committee of the Company falls below the requirements under Rule 3.25 and Rule A.5.1 of Appendix 14 of the Listing Rules.
The Board will appoint appropriate person(s) to fill the vacancies as soon as possible within three months from 28 January 2013 pursuant to the Rule 3.11 of the Listing Rules.
Further announcement will be made by the Company in relation to such appointments as and when appropriate.
For and on behalf of the Board Mongolia Investment Group Limited Zhu Dong
Executive Director
Hong Kong, 29 January 2013
As at the date of this announcement, the executive directors are Mr. YUEN Chow Ming (Chairman), Mr. YUEN Wai Keung (Deputy Chairman and Chief Executive Officer), Mr. SO Yiu Cheung (Deputy Chairman), Mr. CHEUNG Chi Man, Dennis, Mr. LEUNG, Chun Tak Barry, Mr. ZHANG Chuanjun and Mr. ZHU Dong, the non-executive directors are Mr. WONG, Kwok Kee and Mr. NG, Wing Keung, and the independent non-executive directors are Mr. LIAO Cheung Tin, Stephen, Mr. TAM Tsz Kan, Mr. HUI Yat On and Mr. TAM Sun Wing.
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