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Stock Code: 1398

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ANNOUNCEMENT OF THE RESOLUTIONS OF

THE BOARD OF DIRECTORS

A meeting of the board of directors (the "Board") of Industrial and Commercial Bank of China Limited (the "Bank") was held at the Bank's head office at No. 55 Fuxingmennei Avenue, Xicheng District, Beijing on 22 November 2019. There were 14 directors eligible for attending the meeting, of whom 10 directors attended the meeting in person and 4 directors attended the meeting by proxy, namely, Mr. Chen Siqing, Chairman of the Board and Mr. Gu Shu, Vice Chairman of the Board, appointed Mr. Hu Hao, Ms. Sheila Colleen Bair appointed Mr. Nout Wellink, and Mr. Dong Shi appointed Mr. Ye Donghai, to attend the meeting and exercise the voting right on their behalf. Mr. Guan Xueqing, the Board Secretary was in attendance at the meeting. Members of the board of supervisors were in attendance at the meeting. The meeting was convened in compliance with the provisions of the laws, regulations, and requirements under the Articles of Association of Industrial and Commercial Bank of China Limited (the "Articles") and the Rules of Procedures for the Board of Directors of Industrial and Commercial Bank of China Limited.

As appointed by Mr. Chen Siqing, Chairman of the Board, Mr. Hu Hao, Executive Director and Senior Executive Vice President, presided over the meeting. The directors attending the meeting considered and approved the proposals stated below:

1. The Proposal on the Appointment of Mr. Liao Lin as Senior Executive Vice President of Industrial and Commercial Bank of China Limited

Voting result of this proposal: 14 valid votes, 14 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

In accordance with the Company Law of the People's Republic of China and other laws and regulations and relevant requirements under the Articles, the Board resolved to appoint Mr. Liao Lin as Senior Executive Vice President of Industrial and Commercial Bank of China Limited. After the Board considered and approved Mr. Liao Lin's appointment, it shall be filed with the China Banking and Insurance Regulatory Commission (the "CBIRC"). For Mr. Liao Lin's biography, please refer to the Bank's Announcement on the Appointment of Senior Executive Vice President on the HKEXnews website of Hong Kong Exchanges and Clearing Limited (www.hkexnews.hk) published on the same day.

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The views of Independent Non-executive Directors on this proposal: Agreed.

2. The Proposal on the Changes to the Members of Some of the Special Committees of the Board of Directors

Voting result of this proposal: 14 valid votes, 14 voted in favour of this proposal, 0 voted against and 0 abstained from voting.

In accordance with the Company Law of the People's Republic of China and other laws and regulations, and requirements under the Articles and the Rules of Procedures for the Board of Directors of Industrial and Commercial Bank of China Limited, with consideration of the appointments of certain directors, in order to ensure the smooth operation of the Board and its special committees, the Board resolved to make the following changes to some members of the special committees of the Board:

Ms. Cao Liqun be appointed as members of the Corporate Social Responsibility and Consumer Protection Committee, the Audit Committee, the Risk Management Committee and the US Risk Committee of the Board. The abovementioned appointments will be effective from the date on which the CBIRC approves Ms. Cao Liqun's qualification as director.

Mr. Feng Weidong be appointed as members of the Audit Committee, the Risk Management Committee, the Nomination Committee and the US Risk Committee of the Board. The abovementioned appointments will be effective from the date on which the CBIRC approves Mr. Feng Weidong's qualification as director.

The Board of Directors of

Industrial and Commercial Bank of China Limited

Beijing, PRC

22 November 2019

As at the date of this announcement, the board of directors comprises Mr. CHEN Siqing, Mr. GU Shu and Mr. HU Hao as executive directors, Mr. YE Donghai, Mr. ZHENG Fuqing, Ms. MEI Yingchun, Mr. DONG Shi, and Mr. LU Yongzhen as non-executive directors, Mr. Anthony Francis NEOH, Mr. YANG Siu Shun, Ms. Sheila Colleen BAIR, Mr. SHEN Si, Mr. Nout WELLINK and Mr. Fred Zuliu HU as independent non-executive directors.

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ICBC - Industrial and Commercial Bank of China Limited published this content on 22 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 November 2019 12:06:00 UTC