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.
PYI Corporation Limited
(Incorporated in Bermuda with limited liability)
(Stock Code: 498)
ANNOUNCEMENT PURSUANT TO RULE 13.70 OF THE LISTING RULES
This announcement is made pursuant to Rule 13.70 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").
Reference is made to the notice of annual general meeting of PYI Corporation Limited (the "Company") and the circular of the Company (the "Circular"), both dated 29 July 2020, in relation to the 2020 AGM to be held on Friday, 4 September 2020 at 10:30 a.m. Unless otherwise stated, capitalised terms used herein shall have the same meanings as defined in the Circular.
On 11 August 2020, the Company Secretary of the Company received a written notice in English from a Shareholder proposing the election of a Mr. Simon Gordon Littmann (the "Proposed Candidate") as an additional Director at the 2020 AGM. A resolution will therefore be proposed in the 2020 AGM for the election of the said Mr. Simon Gordon Littmann as Director (the "Supplemental Resolution") and a supplemental proxy form will be sent to Shareholders for such purpose.
Particulars of the Proposed Candidate provided (in English) by the Proposed Candidate himself, which were purported to be disclosed pursuant to Rule 13.51(2) of the Listing Rules are reproduced and appended to the English version of this announcement, the content and/or accuracy of which has not been independently verified by the Company. In order to provide more information to the Shareholders, the Company has requested the Proposed Candidate to provide supporting documents for his qualifications and experience mentioned and further information in relation to his suitability for the position. Further announcement and/or a supplemental circular in relation to the Supplemental Resolution may be made or despatched by the Company as and when appropriate.
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Chinese translation of the said appendix is provided by the Company for reference only and Shareholders shall refer to the English version of this announcement for all purposes.
By Order of the Board
PYI Corporation Limited
Lau Tom Ko Yuen
Chairman and Managing Director
Hong Kong, 16 August 2020
As at the date of this announcement, the composition of the Board is as follows:
Mr. Lau Tom Ko Yuen | : | Chairman and Managing Director |
Mr. Sue Ka Lok | : | Executive Director |
Ms. Wu Yan Yee | : | Executive Director |
Mr. Chan Shu Kin | : | Independent Non-Executive Director |
Ms. Wong Lai Kin, Elsa | : | Independent Non-Executive Director |
Mr. Leung Chung Ki | : | Independent Non-Executive Director |
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Appendix
(a) the full name and age; | Simon Gordon Littmann | ||||||||
Age: 41 | |||||||||
(b) positions held with the issuer and other | None | ||||||||
members of the issuer's group; | |||||||||
(c) experience including (i) other directorships | (i) | No | directorships | in | public | ||||
held in the last three years in public companies | companies | with | listed | ||||||
the securities of which are listed on any | securities in the last 3 years | ||||||||
securities market in Hong Kong or overseas, | (ii) | The Proposed Candidate is a | |||||||
and (ii) other major appointments and | German Diploma | Lawyer | by | ||||||
professional qualifications; | profession | and | Executive | ||||||
Manager | by | occupation, | |||||||
currently the sole director and | |||||||||
executive manager | of | Swiss | |||||||
Investors Corporation Limited, | |||||||||
a | tangible | assets | services | ||||||
company as well as sole | |||||||||
director | and | executive | |||||||
manager of Beauforte Limited, | |||||||||
a | consulting | company | for | ||||||
diverse project | management | ||||||||
ventures and precious metals | |||||||||
refining. He is also director of | |||||||||
BAMS Limited. The Proposed | |||||||||
Candidate | has | profound | |||||||
knowledge and experience in | |||||||||
distressed | asset | ||||||||
management, | private | asset | |||||||
management | and | tangible | |||||||
assets | services. | The | |||||||
Proposed Candidate was | a | ||||||||
director of Hong Kong listed | |||||||||
company Beauforte Investors | |||||||||
Corporation | Limited, | Stock | |||||||
code 21, 13 years ago. | |||||||||
(iii) The Proposed | Candidate | ||||||||
studied Law and Law and | |||||||||
Economics | in | Germany | |||||||
(University | of | Leipzig | and | ||||||
Westfalic Wilhelms University | |||||||||
of | Muenster) | and | in | ||||||
Switzerland | (University | of | |||||||
Basel) including an academic | |||||||||
stay in the USA (Georgetown | |||||||||
University | of | Washington | |||||||
D.C.). | The | Proposed | |||||||
Candidate | received | an | |||||||
Erasmus Program scholarship |
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and a Zaeslin Program scholarship and graduated as a German Diploma Lawyer. During his work in distressed asset management for Swiss private equity and private investors in 2007-2009, the Proposed Candidate was a director of Hong Kong listed company Beauforte Investors Corporation Limited (stock code 21) 12 years ago. Currently the Proposed Candidate is the sole director and executive manager - and employed as such - of Swiss Investors Corporation Limited, a tangible assets services company as well as sole director and executive manager of Beauforte Limited, a consulting company for diverse project management ventures and precious metals refining. He is also director
of BAMS Limited. The Proposed Candidate has profound knowledge and experience in distressed asset management, private asset management and tangible
assets services. The Proposed Candidate is committed to a pure shareholder value approach with intent to unlock the net asset value of PYI and to activate the Company's full potential in the best interest for all Shareholders and the Company as a whole.
Note: The above (iii) was provided by the Proposed
Candidate under "current employment and such other information (which may
include business experience
and academic qualifications) of which Shareholders should
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be | aware, pertaining to | the | |||
ability or integrity of" | the | ||||
Proposed Candidate. | |||||
(d) | length or proposed length of service with the | The | Proposed | Candidate | |
issuer; | declared his availability for a 3 | ||||
years term, with an option to be | |||||
available for re-election thereafter | |||||
(e) | relationships with any directors, senior | None | |||
management or substantial or controlling | |||||
shareholders of the issuer; | |||||
(f) | his interests in shares of the issuer within the | None | |||
meaning of Part XV of the Securities and | |||||
Futures Ordinance; | |||||
(g) | amount of the director's, supervisor's or chief | ||||
executive's emoluments and the basis of | |||||
determining the director's, supervisor's or | |||||
chief executive's emoluments (including any | |||||
bonus payments, whether fixed or | |||||
discretionary in nature, irrespective of whether | |||||
the director, supervisor or chief executive has | |||||
or does not have a service contract) and how | |||||
much of these emoluments are covered by a | |||||
service contract; | |||||
(h) a declaration in respect of the information | No information to be disclosed | ||||
required under rule 13.51(2)(h) to (w) of the | pursuant to any of such | ||||
Listing Rules. | requirements |
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PYI Corporation Ltd. published this content on 16 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2020 10:27:03 UTC