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Change - Announcement Of Resignation Of Non-Executive Director

BackMar 09, 2018
Announcement Title Change - Announcement of Cessation
Date & Time of Broadcast Mar 9, 2018 18:29
Status New
Announcement Sub Title Resignation of Non-Executive Director
Announcement Reference SG180309OTHRPCR7
Submitted By (Co./ Ind. Name) Dr Diao Weicheng
Designation Executive Chairman
Description (Please provide a detailed description of the event in the box below) Resignation of Mr Zhong Sijun ("Mr Zhong") as Non-Executive Director of AVIC International Maritime Holdings Limited (the "Company").

This announcement has been prepared by the Company and its contents have been reviewed by the Company's Continuing Sponsor, Stamford Corporate Services Pte. Ltd. ("Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual Section B: Rules of Catalist ("Catalist Rules"). The Sponsor has not independently verified the contents of this announcement.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Ng Joo Khin:
Telephone: (65) 6389 3000
Email: jookhin.ng@morganlewis.com
Additional Details
Name Of Person Zhong Sijun
Age 41
Is effective date of cessation known? Yes
If yes, please provide the date 09/03/2018
Detailed Reason (s) for cessation Mr Zhong is resigning to pursue his own personal interests.

Following Mr Zhong's resignation and the resignation of Mr Chong Teck Sin as Independent Director of the Company on 1 December 2017, the composition of the Board and Board committees has been reconstituted ("Reconstitution of the Board and Board Committees"). For further details, please refer to the Company's announcement dated 9 March 2018.

Following the Reconstitution of the Board and Board Committees, the Board and Nominating Committee are satisfied that the composition and membership of the Board and the Board committees comply with the Code of Corporate Governance (including but not limited to meeting the minimum requirement of Principle 2 (Guideline 2.2) which provides that independent directors should make up at least half of the Board).

The Sponsor, having interviewed Mr Zhong, is satisfied that, other than as disclosed in this announcement, there are no material reasons for the resignation of Mr Zhong.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting? No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer? No
Any other relevant information to be provided to shareholders of the listed issuer? No
Date of Appointment to current position 02/07/2015
Does the AC have a minimum of 3 members (taking into account this cessation)? Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation) 1
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months 2
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.) Non-Executive Director
Role and responsibilities Non-Executive Director
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries NIL
Shareholding interest in the listed issuer and its subsidiaries? No
Past (for the last 5 years) NIL
Present 1) FIYTA Holdings Ltd.
2) Tianma Microelectronics Co., Ltd.
3) AVIC Real Estate Co., Ltd.
4) Rainbow Department Store Co., Ltd.
5) Shennan Circuits Co., Ltd.