TA YANG GROUP HOLDINGS 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.
TA YANG GROUP HOLDINGS LIMITED大洋集團控股有限公司
(Incorporated in the Cayman Islands with limited liability) (Stock Code: 1991)
APPOINTMENT OF DIRECTOR
Mr. Kwok Yiu Kai has been appointed as Executive Director of the Company with effect from 1 August, 2014.
The board (the "Board") of directors (the "Directors") of Ta Yang Group Holdings Limited (the "Company", together with its subsidiaries, the "Group") is pleased to announce that Mr. Kwok Yiu Kai ("Mr. Kwok") appointed as an executive director with effect from 1 August, 2014.
Mr. Kwok, aged 52, holds Master of Science degrees in Training and Human Resources Management. He has over 30 years of accomplishments across the whole spectrum of human resources management, covering such areas as company culture, merger and acquisition projects, human resource policy formulation, manpower planning, compensation and benefits, training and development, performance management, staff relations, etc..
Mr. Kwok is currently a managing director of human resources consultancy firm. Before that, Mr. Kwok held a number of senior human resource positions in major banks, such as Citibank, Hang Seng Bank, Development Bank of Singapore, and First Pacific Bank. While he was Head of Human Resources for DBS's subsidiaries in Hong Kong, he also served as Chairman of the bank's Service Steering Committee.
Mr. Kwok did not hold any major appointment or professional qualification nor directorship in other public companies, the securities of which are listed on any securities market in Hong Kong or overseas, in the last three years, nor did he hold any other positions with the Company and other members of the Group.
Pursuant to the appointment letter entered with the Company, Mr. Kwok is appointed as Executive Director of the Company and Chief Human Resources Officer for a term of 2 years, both commencing from his appointment dated (i.e. 1 August 2014). In accordance with the Articles of Association of the Company, his appointment of Executive Director will be subject to retirement at the next following annual general meeting and shall then be eligible for re-election at that meeting. He will be also subject to retirement by rotation at least once every three years at the annual general meetings of the Company since his last re-election pursuant to the Articles of Association of the Company. Mr. Kwok will be entitled to receive a Director's fee of HK$60,000 per month, which was recommended by the Remuneration Committee and determined by the Board, with reference to the prevailing market conditions and based on the duties and responsibilities undertaken by him as Executive Director and Chief Human Resource Officer.
As at the date hereof, Mr. Kwok does not have any relationship with the directors, senior management, substantial shareholders or controlling shareholders of the Company or any of its subsidiaries, nor does he have any interests in shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.
Save as disclosed above, Mr. Kwok confirmed that there is no other information relating to the appointment which is required to be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and there is no other matter that needs to be brought to the attention of the shareholders of the Company.
The Board wishes to express its warm welcome to Mr. Kwok on his appointment.
By Order of the Board
Hong Kong, 29 July, 2014
As at the date hereof, the Board of the Company has three executive directors, namely, Mr. Huang Sheng-Shun, Mr. Huang Te-Wei and Mr. Wong Tak Leung, and one non-executive director, namely, Mr. Wu Ih Chen, and four independent non-executive directors, namely, Mr. Hsieh Yu, Professor Jou Yow-Jen, Mr. Yeung Chi Tat and Mr. Kirk Yang.
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