GF Securities Co., Ltd. had recently received written resignation letters from Ms. Leung Shek Ling Olivia and Mr. Li Wenjing, the independent non-executive directors of the Company. Pursuant to the Measures for the Administration of Independent Directors of Listed Companies of the China Securities Regulatory Commission and other relevant regulations, the consecutive term of office of an independent non-executive director in the same listed company shall not exceed six years. As of the date of this announcement, each of Ms. Leung Shek Ling Olivia and Mr. Li Wenjing has served consecutively in the Company for six years, and therefore has tendered his/her resignation as an independent non-executive director of the Company and member of the relevant special committees of the board of directors.
Upon their resignations becoming effective, they will not hold any other positions in the Company. As the resignations of Ms. Leung Shek Ling Olivia and Mr. Li Wenjing will result in the number of independent non-executive directors of the Company falling below one-third of the members of the board of directors, and a lack of accounting professionals among the independent non-executive directors, pursuant to the Measures for the Administration of Independent Directors of Listed Companies and other relevant regulations, the resignations of Ms. Leung Shek Ling Olivia and Mr. Li Wenjing shall become effective from the date on which new independent non-executive directors are elected at the general meeting of the Company. Prior to this, Ms. Leung Shek Ling Olivia and Mr. Li Wenjing will continue to perform their duties as independent non-executive directors of the Company and members of the relevant special committees of the board of directors.
The Company will complete the by-election of independent non-executive directors as soon as possible in accordance with the relevant regulations.
