Global Corn Group Limited — Board/Management Information 2009

Dec 8, 2009

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.

GLOBAL SWEETENERS HOLDINGS LIMITED 大成糖業控股有限公司 *

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 03889)

CHANGE OF DIRECTORS

RESIGNATION OF DIRECTOR

The board (“ Board ”) of directors (“ Director(s) ”) of Global Sweeteners Holdings Limited (“ Company ”, together with its subsidiaries, the “ Group ”) announces that Mr. Zhang Fusheng (“ Mr. Zhang ”) resigned as executive Director with effect from 8 December 2009 due to his intention to focus his effort on the sales and marketing of the Group and he will remain as senior management of the Company. Upon his resignation as executive Director, he has ceased to be a member of the continuing connected transactions executive committee of the Company.

Mr. Zhang has confirmed that he has no disagreement with the Board and there is no matter which needs to be brought to the attention of the shareholders of the Company in respect of his resignation.

The Board would like to express its gratitude to Mr. Zhang for his valuable contribution to the Company during the tenure of his office.

APPOINTMENT OF DIRECTOR

The Board is pleased to announce that Mr. Lee Chi Yung (“ Mr. Lee ”) has been appointed as an executive Director and member of the continuing connected transactions executive committee of the Company with effect from 8 December 2009.

Mr. Lee, aged, 35, is the financial controller and company secretary of the Company. Mr Lee joined the Company in August 2007 and he is responsible for overseeing the Group’s financial reporting procedures, internal controls and compliance with the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (“ Listing Rules ”) and other relevant laws and regulations. He has over 8 years of experience in the related fields of finance, auditing, accounting and corporate governance practices. He graduated from the City University of Hong Kong with

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a Bachelor’s degree (with honors) in accountancy in 1996. He is a member of the Association of Chartered Certified Accountants and Hong Kong Institute of Certified Public Accountants.

As at the date of this announcement, Mr. Lee has been granted 3,000,000 options under the share option scheme of the Company. Save as disclosed above, he did not have any interest in the shares or underlying shares in the Company within the meaning of Part XV of the Securities and Futures Ordinance. Save as disclosed above, Mr. Lee did not hold any directorship in other listed public companies or any other major appointments or qualifications in the last three years and he was not related to any other directors, senior management, substantial or controlling shareholders of the Company as at the date of this announcement.

Mr. Lee has entered into a service contract with the Company for an initial term of three years commencing from 8 December 2009, which shall be renewed and extended automatically by one year on the expiry of such initial term or at any time thereafter, unless terminated by at least three months’ written notice served by either party at any time during the then existing term. Under the service contract, he is entitled to a basic salary subject to an annual increment after 1 January 2011 at the discretion of the Directors of not more than 15% of the annual salary immediately prior to such increase. Under the service contract, the annual salary of Mr. Lee is HK$804,000. Further, he is also entitled to a discretionary management bonus provided that the aggregate amount of the bonuses payable to all the executive Directors for any financial year of the Company may not exceed 5% of the audited combined or consolidated audited net profit of the Group (after taxation and minority interests and payment of such bonuses but before extraordinary items) in respect of that financial year of the Company. Mr. Lee’s emolument is determined by the Board with reference to his duties, responsibilities, performance and results of the Group.

Save as disclosed above, the Board is not aware of any other matters in relation to the appointment of Mr. Lee as an executive Director that need to be brought to the attention of the holders of securities of the Company nor is there any information to be disclosed by the Company pursuant to any of the requirements under the rule 13.51(2) of the Listing Rules.

The Board would like to take this opportunity to express its warmest welcome to Mr. Lee in joining the Board.

By order of the Board

Global Sweeteners Holdings Limited Kong Zhanpeng Chairman

Hong Kong, 8 December 2009

As at the date of this announcement, the executive Directors are Mr. Kong Zhanpeng, Mr. Zhang Fazheng, Ms. Wang Guifeng and Mr. Lee Chi Yung, and the independent non-executive Directors are Mr. Chan Yuk Tong, Mr. Gao Yunchun and Mr. Ho Lic Ki.

• for identification purpose only

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