HOSA INTERNATIONAL LIMITED 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.
HOSA INTERNATIONAL LIMITED
浩 沙 國 際 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 02200)
CHANGE OF DIRECTOR AND COMPOSITION OF AUDIT COMMITTEE, NOMINATION COMMITTEE AND REMUNERATION COMMITTEE
Mr. Zhao Yan has resigned as an executive Director and a member of the Remuneration Committee of the Company, and Mr. Wang Yao has resigned as an independent non-executive Director, a member of the Audit Committee, a member of the Nomination Committee and a member of the Remuneration Committee of the Company with effect from 1 December 2015.
Mr. Shi Zhixiong has been appointed as an executive Director and a member of the Remuneration Committee of the Company, and Mr. He Wenyi has been appointed as an independent non-executive Director, a member of the Audit Committee, a member of the Nomination Committee and a member of the Remuneration Committee of the Company with effect from 1 December 2015.
The appointment of Mr. He Wenyi filled the vacancies for independent non-executive Director and a member of the Audit Committee, Nomination Committee and Remuneration Committee. As such, the Company is in compliance with the requirements of Rules 3.10(1), 3.21 and 3.25 of the Listing Rules following such appointment.
RESIGNATION OF DIRECTORS AND MEMBERS OF BOARD COMMITTEE
The board (the ''Board'') of directors (the ''Directors'') of Hosa International Limited (the ''Company'') hereby announces that Mr. Zhao Yan (''Mr. Zhao'') has tendered his resignation as an executive Director and a member of the Remuneration Committee of the Company with effect from 1 December 2015 in order to devote more time on his other business commitments. Mr. Wang Yao (''Mr. Wang'') has tendered his resignation as an independent non-executive Director, a member of the Audit Committee, a member of the Nomination Committee and a member of the Remuneration Committee of the Company with effect from 1 December 2015 in order to focus on his primary business commitments.
Mr. Zhao and Mr. Wang have confirmed that they have no disagreement with the Board and that there is no matter relating to their resignations that needs to be brought to the attention of the shareholders of the Company.
The Board would like to express its sincere gratitude to Mr. Zhao and Mr. Wang for their valuable contributions to the Company during their tenure of office.
APPOINTMENT OF DIRECTORS AND MEMBERS OF BOARD COMMITTEE
The Board is also pleased to announce that Mr. Shi Zhixiong (''Mr. Shi'') has been appointed as an executive Director and a member of the Remuneration Committee of the Company, and Mr. He Wenyi (''Mr. He'') has been appointed as an independent non-executive Director, a member of the Audit Committee, a member of the Nomination Committee and a member of the Remuneration Committee of the Company with effect from 1 December 2015.
Mr. Shi Zhixiong
Mr. Shi was born in China in March 1973. He worked at the research and development department of Haosha Garments Co., Ltd. which is a fabric, dyeing and printing products manufacturer, from 1996 to 2003 with his last position as manager. He served as the sales director responsible for sales and marketing development and deputy general manager responsible for implementing business development strategies and overseeing the business activities of Haosha Garments Co., Ltd. from 2003 to 2010 and from 2010 to 2015 respectively. Mr. Shi possesses profound knowledge and experiences in production and supply chain management.
Mr. He Wenyi
Mr. He is the deputy director of the Peking University Institute for Sport Science as well as the executive officer and the researcher of China Institute for Sports Value under the Peking University.
Mr. He was born in Hangzhou, Zhejiang in February 1973. He studied in the Department of Philosophy of Peking University, College of Philosophy and Sociology of Beijing Normal University and School of Public Administration of Central South University. He focused on the researches regarding cultural industries and sports industries in the Peking University Institute for Cultural Industries from 2001 to 2009. He works at the Peking University Institute for Sport Science from 2009 up to now and his major research areas are sports industries, cultural industries, intellectual property rights, philosophy (ethics, religious studies), etc.
Mr. He participated in the research and formulation of the reform and development policies of national sports industries and has played a role in the formulation of development plans of winter sports in China. Mr. He was also the associate editor of Annual Report on Development of Sports Industry in China, the associate editor of Development Report of Sports Industry in Beijing, the editorial board member of the Annual Report of Chinese Cultural Industries, the professional assessor of Guiding Fund
for the Development of Sports Industry in Beijing, the professional assessor of Support Fund for Cultural Industries in Beijing. Moreover, he hosted the formulation of 13th Five-Year Plan for Sports Industry in various counties in Beijing.
Both Mr. Shi and Mr. He have entered into letters of appointment separately with the Company for an initial term of three years commencing on 1 December 2015. Their appointments are subject to the provisions of retirement and rotation of Directors under the articles of association of the Company. Pursuant to the terms of the letters of appointment, Mr. Shi is entitled to a Director's fee of RMB500,000 per year, and Mr. He is entitled to a Director's fee of RMB180,000 per year, both of which are determined with reference to the market rate and their respective time, effort and expertise to be exercised on the Company's affairs and the Company's remuneration policy.
Save as disclosed in this announcement, Mr. Shi and Mr. He (i) did not hold any other positions in the Company or its subsidiaries as of the date of this announcement; (ii) had no other relationship with any Directors, senior management or substantial or controlling shareholders of the Company as of the date of this announcement; and (iii) did not hold any other directorships in listed public companies in the three years prior to the date of this announcement. As of the date of this announcement, Mr. Shi and Mr. He did not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance. Save as disclosed herein, to the best of the knowledge, information and belief of our Directors having made all reasonable enquiries, there were no other matters with respect to the appointments of Mr. Shi and Mr. He that need to be brought to the attention of the shareholders of the Company and there was no information relating to Mr. Shi and Mr. He that is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Listing Rules'') as of the date of this announcement.
The appointment of Mr. He filled the vacancies for independent non-executive Director and a member of the Audit Committee, Nomination Committee and Remuneration Committee as referred to above. As such, the Company is in compliance with the requirements of Rules 3.10(1), 3.21 and 3.25 of the Listing Rules following such appointment.
The Board would like to extend its welcome to Mr. Shi and Mr. He on their appointment.
By Order of the Board
Hosa International Limited Mr. Shi Hongliu
Chairman
Hong Kong, 1 December 2015
As at the date of this announcement, the executive Directors are Mr. Shi Hongliu, Mr. Shi Hongyan and Mr. Shi Zhixiong, and the independent non-executive Directors are Ms. Ko Yuk Lan, Mr. Yao Ge and Mr. He Wenyi.
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