Global Corn Group Limited — Board/Management Information 2016

Mar 16, 2016

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this document, 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)

APPOINTMENT OF DIRECTOR AND

CHANGE OF COMPOSITION OF AUDIT COMMITTEE, NOMINATION COMMITTEE, CORPORATE GOVERNANCE COMMITTEE AND CCT SUPERVISORY COMMITTEE

• The Board announces that:

• (i) Mr. Yuen Tsz Chun has been appointed as an independent non-executive Director and a member and chairman of the Audit Committee, a member and chairman of the Corporate Governance Committee, and a member and chairman of the CCT Supervisory Committee;

• (ii) Mr. Wang Jian, an executive Director and among others, a member of Nomination Committee, has been re-designated as the chairman of Nomination committee; and

• (iii) Mr. Ho Lic Ki, an independent non-executive Director and among others, a chairman of Nomination Committee, has been re-designated as the member of Nomination Committee.

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board (the “ Board ”) of directors (the “ Directors ”) of the Global Sweeteners Holdings Limited (the “ Company ”, together with its subsidiaries, the “ Group ”) is pleased to announce that Mr. Yuen Tsz Chun (“ Mr. Yuen ”) has been appointed as an independent non-executive Director with effect from 16 March 2016.

• For identification purpose only

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Mr. Yuen, aged 45, is a partner of Messrs. KLC Kennic Lui & Co.. He graduated from Queen’s University of Belfast of United Kingdom in 1994 with a Bachelor of Science degree in accounting. Mr. Yuen has also obtained a Master of Laws degree from the Chinese University of Hong Kong. He is a registered Appointment Taker and Insolvency Practitioner of the Administrative Panel of Insolvency Practitioners for Court Winding-Up of the Official Receiver’s Office. Mr. Yuen is a member of the Institute of Chartered Accountants in England and Wales and the Hong Kong Institute of Certified Public Accountants (the “ HKICPA ”). Mr. Yuen is also a Certified Fraud Examiners in Texas, the United States of America. He has been awarded Specialist Designation in Insolvency by the HKICPA. Since 2009, he has been appointed as a member of the Restructuring and Insolvency Faculty Executive Committee of HKICPA. Mr. Yuen has over 21 years of experience in accounting, auditing, forensic accounting, bankruptcy, liquidation and receivership.

As at the date of this announcement, Mr. Yuen 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 (Chapter 571 of the Laws of Hong Kong). Save as disclosed above, during the three years immediately before his appointment, Mr. Yuen had not held any directorship in other listed public companies in Hong Kong or overseas or any other major appointments and qualifications. Mr. Yuen is not related to any Directors, senior management or substantial or controlling shareholders of the Company.

Mr. Yuen has entered into an appointment letter with the Company for an initial term of two years commencing on 16 March 2016, which shall be renewable automatically for successive terms of one year unless terminated by not less than three months’ written notice served by either party at any time during the then existing term. Under the appointment letter, Mr. Yuen shall be paid an annual director’s fee of HK$480,000. The director’s fee 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. Yuen as an independent non-executive Director that needs to be brought to the attention of the shareholders 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 Rules (the “ Listing Rules ”) Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”).

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CHANGE OF COMPOSITION OF AUDIT COMMITTEE, NOMINATION COMMITTEE, CORPORATE GOVERNANCE COMMITTEE AND CCT SUPERVISORY COMMITTEE

The Board announces that following the appointment of Director as announced above, the composition of the audit committee of the Company (the “ Audit Committee ”), the nomination committee of the Company (the “ Nomination Committee ”), the corporate governance committee of the Company (the “ Corporate Governance Committee ”) and the continuing connected transactions supervisory committee of the Company (the “ CCT Supervisory Committee ”) and has been changed as follows with effect from 16 March 2016:

• (i) Mr. Yuen has been appointed as an independent non-executive Director and a member and chairman of the Audit Committee, a member and chairman of the Corporate Governance Committee, and a member and chairman of the CCT Supervisory Committee;

• (ii) Mr. Wang Jian, an executive Director and among others, a member of the Nomination Committee, has been re-designated as the chairman of the Nomination committee; and

• (iii) Mr. Ho Lic Ki, an independent non-executive Director and among others, a chairman of the Nomination Committee, has been re-designated as a member of the Nomination Committee.

Following the appointment of Mr. Yuen as an independent non-executive Director and among others, a member and the chairman of the Audit Committee, the Board comprises seven members including three independent non-executive Directors and the Audit Committee has three members, which fulfills the requirements under Rules 3.10(1) and 3.21 of the Listing Rules.

The Board takes this opportunity to express its warmest welcome to Mr. Yuen to the Board.

An updated list of Directors and their roles and function including the composition of each of the committees of the Board will be made available on the websites of the Stock Exchange and the Company in due course.

By order of the Board Global Sweeteners Holdings Limited Wang Jian Chairman

Hong Kong, 16 March 2016

As at the date of this announcement, the board of Directors comprises two executive Directors, namely, Mr. Wang Jian and Mr. Kong Zhanpeng; two non-executive Directors, namely, Mr. Fu Qiang and Ms. Zhang Yaohui; and three independent non-executive Directors, namely, Mr. Ho Lic Ki, Mr. Lo Kwing Yu and Mr. Yuen Tsz Chun.

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