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Central Development Holdings Limited Board/Management Information 2000
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Download source file| SEAPOWER INTERNATIONAL | SEAPOWER RESOURCES |
| HOLDINGS LIMITED | INTERNATIONAL LIMITED |
| (incorporated in Bermuda with limited liability) | (incorporated in the Cayman Islands with limited liability) |
ANNOUNCEMENT
The respective Boards of Directors of Seapower International Holdings Limited and Seapower Resources International Limited announces changes in their directorate with effect from 7th June, 2000.
The respective Boards of Directors of Seapower International Holdings Limited ("SIH") and Seapower Resources International Limited ("SRI") announces that with effect from 7th June, 2000, Mr. Choi Sai Leung ("Mr. Choi") resigned as Chairman and relinquished from the executive functions as Director. Ms. Shirley Choi Siu Lui ("Ms. Choi"), the Vice-Chairman of SIH and an Executive Director of SRI, has been appointed as the Chairman and Chief Executive Officer of both companies with effect from 7th June, 2000. Assuming the title of Honorary Chairman following his resignation, Mr. Choi will continue to act as a Non-executive Director of SIH and SRI.
Ms. Choi was appointed as an Executive Director of SIH and SRI in 1994 and was appointed as Vice-Chairman of SIH in 1999. During these years, young and energetic management members have also joined the Groups. The new and young management teams (the "New Management Teams") have played and will continue to play an important role in the Groups-development. Mr. Choi believes that it is now an appropriate time for him to relinquish from all executive functions and pass on the leadership of the Groups to the New Management Teams while he can devote more time and attention to his personal matters. With the continuous dedication of the Board members and the staff as well as the support of the customers, suppliers, bankers and shareholders, Mr. Choi and the Board members are confident that the Groups will continue to expand and flourish under the leadership of the New Management Teams.
The Board of Directors of SIH is also pleased to announce the appointment of Mr. Norman Choi Sung Fung as an Executive Director with effect from 7th June, 2000. Mr. Norman Choi is also an Executive Director of SRI.
The respective Boards of SIH and SRI would like to express their sincere gratitude and appreciation for the leadership and valuable contribution of Mr. Choi during his term as Chairman and Executive Director and warmly welcome Ms. Choi as the new Chairman and Chief Executive Officer and Mr. Norman Choi as a new Board member of SIH.
SIH at present holds approximately 36.99% of the entire issued capital of SRI.
| By order of the Board of | By order of the Board of |
| Seapower International Holdings Limited | Seapower Resources International Limited |
| Louisa Tam Suet Lin | Louisa Tam Suet Lin |
| Company Secretary | Company Secretary |
Hong Kong, 7th June, 2000