Mr. Hu has entered into a letter of appointment with the Company on 29 March 2019. Mr. Hu is subject to retirement and re-election at the next following annual general meeting of the Company after his appointment and thereafter subject to retirement by rotation and re-election at the annual general meeting in accordance with the bye-laws of the Company. Mr. Hu is entitled to an annual emolument of HK$720,000 which are determined with reference to his duties and responsibilities with the Company and the prevailing market conditions.
Save as disclosed above, Mr. Hu has not held any directorship in the last three years in any public companies the securities of which are listed on any securities market in Hong Kong or overseas and does not have any relationship with any directors, senior management, substantial or controlling shareholders of the Company.
As at the date of this announcement, Mr. Hu does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Future Ordinance.
Save as disclosed above, there is no other information relating to the re-designation of Mr. Hu that is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules nor any matters that need to be brought to the attention of the shareholders of the Company.
The Board would like to take this opportunity to welcome Mr. Hu's new role in the Company.
By order of the Board
Hong Kong Resources Holdings Company Limited
Mr. Li Ning
Hong Kong, 14 July 2019
As at the date of this announcement, the Board comprises Mr. Li Ning (Chairman), Mr. Xu Zhigang (Chief Executive Officer), Ms. Dai Wei and Mr. Hu Hongwei as executive directors and Dr. Loke Yu alias Loke Hoi Lam, Mr. Xu Xiaoping and Mr. Fan, Anthony Ren Da as independent non-executive directors.