Greentown China Holdings Limited Proposes Executive Directorate Changes
Xia, Wisearn (a company wholly-owned by Ms. Xia), Sunac China and Sunac Subsidiary (a wholly-owned subsidiary of Sunac China). Each of Mr. Luo, Mr. Guo and Mr. Cao has resigned as an executive Director conditional upon the Completion having been taken place and with effect from the Completion. In addition, the Board has resolved that, conditional upon the Completion having been taken place, with effect from the Completion: (a) Mr. Song shall be re-designated from the chairman of the Board to a co-chairman of the Board (and shall be subsequently re-designated from a co-chairman of the Board to the honorary chairman of the Board with effect from 1 March 2015); (b) Mr. Sun shall be appointed as a non-executive Director, co-chairman of the Board and the chairman of the nomination committee of the Board (and shall be subsequently re-designated from the co-chairman of the Board to the chairman of the Board with effect from 1 March 2015); (c) Mr. Huang shall be appointed as an executive Director and the executive general manager of the Group; and (d) Mr. Sze shall be re-designated from the chairman to a member of the nomination committee of the Board.