Microsoft Word - E_Ann - Resign Oscar Chow

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: 1083)

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR, MEMBER OF AUDIT COMMITTEE, REMUNERATION COMMITTEE AND NOMINATION COMMITTEE

The board of directors (the "Board") of Towngas China Company Limited (the "Company") hereby announces that Mr. Chow Vee Tsung, Oscar ("Mr. Chow") has tendered his resignation as an independent non-executive director, a member of the audit committee,
a member of the remuneration committee and a member of the nomination committee of the Company with effect from the close of office on 8 May 2015 in order to devote more time on his personal engagements.
Mr. Chow has confirmed that he has no disagreement with the Board and that there is no matter relating to his resignation 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. Chow for his valuable contributions to the Company during his tenure of office.
Following the resignation of Mr. Chow, the Company has only two independent non-executive directors and two audit committee members, the number of which falls below the minimum number required under Rule 3.10(1) and Rule 3.21 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). The Company is currently identifying a suitable candidate to fill the vacancy of an independent non-executive director to meet the minimum required number of independent non-executive directors and audit committee members under Rule 3.10(1) and Rule 3.21 of the Listing Rules. The Company will make further announcement as and when required by the Listing Rules.
By order of the Board Towngas China Company Limited HO Hon Ming, John

Executive Director and Company Secretary

Hong Kong, 8 May 2015

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As at the date of this announcement, the Board comprises:

Executive Directors: Independent Non-Executive Directors:

CHAN Wing Kin, Alfred (Chairman) CHENG Mo Chi, Moses WONG Wai Yee, Peter (Chief Executive Officer) LI Man Bun, Brian David HO Hon Ming, John (Company Secretary)

Non-Executive Director:

KWAN Yuk Choi, James

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