CK LIFE SCIENCES INT'L., (HOLDINGS) INC. 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: 0775)
APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR
The board of directors (the "Board") of CK Life Sciences Int'l., (Holdings) Inc. (the "Company") announces that Mr. Kwan Kai Cheong ("Mr. Kwan") has been appointed as an Independent Non-executive Director of the Company with effect from
24 March 2015.
Mr. Kwan, aged 65, is President of Morrison & Company Limited, a business consultancy firm. He worked for Merrill Lynch & Co., Inc. for over 10 years during the period from 1982 to 1993, with his last position as President for its Asia Pacific region. He was formerly Joint Managing Director of Pacific Concord Holding Limited ("Pacific Concord"). Mr. Kwan is an Independent Non-executive Director of HK Electric Investments Limited, HK Electric Investments Manager Limited (as Trustee-Manager of HK Electric Investments), Greenland Hong Kong Holdings Limited, Henderson Sunlight Asset Management Limited (as Manager of Sunlight Real Estate Investment Trust), United Photovoltaics Group Limited, Win Hanverky Holdings Limited and Dynagreen Environmental Protection Group Co., Ltd. and a Non-executive Director of China Properties Group Limited. Mr. Kwan is also a Director of The Hongkong Electric Company, Limited. He was previously an Independent Non-executive Director of Galaxy Resources Limited (resigned on
30 June 2014) and an Independent Non-executive Director and an Alternate Director of Hutchison Harbour Ring Limited (now known as China Oceanwide Holdings Limited) (resigned on 19 December 2014). Mr. Kwan holds a Bachelor of Accountancy (Honours) degree and is a Fellow of the Hong Kong Institute of Certified Public Accountants, The Institute of Chartered Accountants in Australia and The Hong Kong Institute of Directors. He completed the Stanford Executive Program in 1992.
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He also holds directorships in certain companies controlled by certain substantial shareholders of the Company within the meaning of Part XV of the Securities and Futures Ordinance ("SFO"). Save as disclosed above, Mr. Kwan does not have any relationship with any other Directors, senior management or substantial or controlling shareholders of the Company. Mr. Kwan does not have any interest in shares of the Company within the meaning of Part XV of the SFO. There is a service agreement entered into between the Company and Mr. Kwan for the appointment of Mr. Kwan as Independent Non-executive Director of the Company for an initial term from
24 March 2015 to 31 December 2015 which will be automatically renewed for
successive 12-month periods, subject to re-election at the next annual general meeting of the Company and retirement by rotation in accordance with the provisions of the Articles of Association of the Company. The Director's fee of Mr. Kwan as specified in the service agreement is HK$75,000 per annum. Such fees are subject to pro-ration in the event the duration of his directorship is for an incomplete year and the review by the Board from time to time.
Mr. Kwan was appointed as a Director of Yaohan International Holdings Limited ("Yaohan", whose shares were formerly listed on the Main Board of The Stock Exchange of Hong Kong Limited) in May 1997 while being an Executive Director of Pacific Concord, to represent the 19% equity interests of Pacific Concord in Yaohan. Yaohan was incorporated in Bermuda and its principal activities were investment holding. Yaohan received winding up orders granted by the courts in Hong Kong and Bermuda on 26 February 1999 and 1 April 1999 respectively. The proceeding is still being finalised and the amount involved under this proceeding is not yet ascertained.
Save as disclosed herein, there are no other matters concerning Mr. Kwan's appointment as an Independent Non-executive Director that need to be brought to the attention of the shareholders of the Company nor any information to be disclosed pursuant to the requirements of Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
By Order of the Board
Company Secretary
Hong Kong, 24 March 2015
As at the date of this announcement, the Executive Directors of the Company are Mr. Li Tzar Kuoi, Victor (Chairman), Mr. Kam Hing Lam, Mr. Ip Tak Chuen, Edmond, Mr. Yu Ying Choi, Alan Abel and Dr. Chu Kee Hung; and the Non-executive Directors are Mr. Peter Peace Tulloch, Professor Wong Yue-chim, Richard (Independent Non-executive Director), Mrs. Kwok Eva Lee (Independent Non-executive Director), Mr. Colin Stevens Russel (Independent Non-executive Director) and Mr. Kwan Kai Cheong (Independent Non-executive Director).
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