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Samsonite Group S.A. Board/Management Information 2010
50259_rns_2010-05-25_30ea3b51-2722-45d6-9735-13dc10322454.pdf
Board/Management Information
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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.
CHINA STAR INVESTMENT HOLDINGS LIMITED
(Incorporated in Bermuda with limited liability)
(Stock Code: 764)
RESIGNATION AND APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTORS
AND
CHANGE OF COMPOSITION OF VARIOUS BOARD COMMITTEES
The Board announces that (i) Mr. Ho has resigned as an independent non-executive Director and a member of the audit committee and the finance committee of the Board with effect from 25 May 2010; and (ii) Mr. Lien has resigned as an independent non-executive Director and a member of the audit committee, the remuneration committee and the nomination committee of the Board with effect from 25 May 2010.
The Board also announces that Mr. Hung and Mr. Wan have been appointed as independent non-executive Directors with effect from 25 May 2010.
The Board also announces that (i) Mr. Hung has been appointed as a member of the audit committee and the finance committee of the Board with effect from 25 May 2010; and (ii) Mr. Wan has been appointed as a member of the audit committee, the remuneration committee and the nomination committee of the Board with effect from 25 May 2010.
RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTORS
The board (the "Board") of directors (the "Directors") of China Star Investment Holdings Limited (the "Company") announces that (i) Mr. Ho Wai Chi, Paul ("Mr. Ho") has resigned as an independent non-executive Director and a member of the audit committee and the finance committee of the Board with effect from 25 May 2010 due to his other business commitments which require more of his dedications; and (ii) Mr. Lien Wai Hung ("Mr. Lien") has resigned as an independent
non-executive Director and a member of the audit committee, the remuneration committee and the nomination committee of the Board with effect from 25 May 2010 due to his other business commitments which require more of his dedications.
Each of Mr. Ho and Mr. Lien confirmed that he has no disagreement with the Board and there are no matters relating to his resignation that need to be brought to the attention of the shareholders of the Company (the "Shareholders") or The Stock Exchange of Hong Kong Limited (the "Stock Exchange").
The Board would like to express its gratitude to Mr. Ho and Mr. Lien for their valuable contribution to the Company during their tenure of service and would like to offer its best wishes to them.
APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTORS
The Board also announces that Mr. Hung Hing Man ("Mr. Hung") and Mr. Wan Shing Chi ("Mr. Wan") have been appointed as independent non-executive Directors with effect from 25 May 2010.
Mr. Hung, aged 39, is currently a proprietor of a certified public accountant firm and has over 13 years of working experience in the sectors of corporate finance, accounting, auditing and taxation. He holds a Master degree in Business Administration from University of Western Sydney, Australia. He is a fellow member of the Association of Chartered Certified Accountants and the Hong Kong Institute of Certified Public Accountants, an associate member of the Taxation Institute of Hong Kong and a member of the Society of Chinese Accountants and Auditors.
Mr. Hung was an independent non-executive director of SMI Corporation Limited (stock code: 198), a company listed on the Main Board of the Stock Exchange, during the period from 14 July 2009 to 8 December 2009. Mr. Hung is currently an independent non-executive director of China Gamma Group Limited (stock code: 164) and Dynamic Global Holdings Limited (stock code: 231), both companies are listed in the Main Board of the Stock Exchange.
Mr. Hung does not have any relationship with any directors, senior management or substantial shareholders of the Company.
Mr. Hung has not previously held any position with the Company or any of its subsidiaries.
There is no service contract entered into between the Company and Mr. Hung. Mr. Hung is not appointed for a specific term. He will hold office until the next annual general meeting of the Company and will then be eligible for election; thereafter he will be subject to retirement by rotation and re-election in accordance with the Company's bye-laws. He is entitled to an annual director's fee of HK$120,000 which is determined by the remuneration committee of the Board with reference to his duties and responsibilities in the Company.
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Mr. Hung does not have any interest in the shares of 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, there is no information relating to Mr. Hung to be disclosed pursuant to Rule 13.51(2) of the Listing Rules and there is no other matter that needs to be brought to the attention of the Shareholders.
Mr. Wan, aged 40, has over 16 years of experience in the field of construction engineering and is currently a site coordinator of a reputable construction company in Hong Kong. He holds a Bachelor degree of Engineering with honours from University of Melbourne, Australia and is a member of the Asia Institute of Building.
Mr. Wan has not held any directorship in the last three years prior to his appointment in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas.
Mr. Wan does not have any relationship with any directors, senior management or substantial shareholders of the Company.
Mr. Wan has not previously held any positions with the Company or any of its subsidiaries.
There is no service contract entered into between the Company and Mr. Wan. Mr. Wan is not appointed for a specific term. He will hold office until the next annual general meeting of the Company and will then be eligible for election; thereafter he will be subject to retirement by rotation and re-election in accordance with the Company's bye-laws. He is entitled to an annual director's fee of HK$120,000 which is determined by the remuneration committee of the Board with reference to his duties and responsibilities in the Company.
Mr. Wan does not have any interest in the shares of 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, there is no information relating to Mr. Wan to be disclosed pursuant to Rule 13.51(2) of the Listing Rules and there is other matter that needs to be brought to the attention of the Shareholders.
The Board would like to take this opportunity to welcome Mr. Hung and Mr. Wan to join the Company.
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CHANGE OF COMPOSITION OF VARIOUS BOARD COMMITTEES
The Board also announces that (i) Mr. Hung has been appointed as a member of the audit committee and the finance committee of the Board with effect from 25 May 2010; and (ii) Mr. Wan has been appointed as a member of the audit committee, the remuneration committee and the nomination committee of the Board with effect from 25 May 2010.
By Order of the Board
China Star Investment Holdings Limited
Lei Hong Wai
Chairman
Hong Kong, 25 May 2010
As at the date of this announcement, the Board comprises two executive Directors namely, Mr. Lee Hong Wai and Mr. Chan Kin Wah, Billy; and three independent non-executive Directors namely, Mr. Tang Chak Lam, Gilbert, Mr. Hung Hing Man and Mr. Wan Shing Chi.
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