CHINA AGRI-INDUSTRIES HOLDINGS LIMITED 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.
The Board is pleased to announce that, with effect from 16 October 2015, Mr. CHI Jingtao, previously a non-executive director of the Company, has been re-designated as an executive director of the Company and appointed as a member of the Executive Committee of the Company. He remains the Chairman of the Board.
The Board of Directors (the 'Board') of China Agri-Industries Holdings Limited (the 'Company') is pleased to announce that, with effect from 16 October 2015, Mr. CHI Jingtao ('Mr. Chi'), previously a non-executive director of the Company, has been re-designated as an executive director of the Company and appointed as a member of the Executive Committee of the Company. He remains the Chairman of the Board.
Mr. Chi, aged 52, has been a non-executive director of the Company since November 2014 and was appointed as the Chairman of the Board in August 2015. Prior to that, he was a non-executive director of the Company during January 2007 to March 2011. Mr. Chi joined COFCO Corporation and/or its subsidiaries ('COFCO Group') in August 2003, and has been a vice president of COFCO Corporation since May 2010 and the general manager of COFCO Trading Ltd. since December 2013. Mr. Chi was an independent director of China Hainan Rubber Industry Group Co., Ltd. (a company listed on the Shanghai Stock Exchange) until November 2013. Since February 2011, Mr. Chi had been a board member of China Food Limited (a company listed on the Stock Exchange of Hong Kong) as an executive director until March 2013 and became a non-executive director until November 2014, and was its board chairman from February 2012 to March 2013. Mr. Chi was the director of human resources department of COFCO Corporation from October 2004 to February 2011. From July 2012 to December 2013, Mr. Chi was the general manager of China Grain and Logistics Corporation. Prior to joining COFCO Group, Mr. Chi held various positions in China Minmetals Corporation, including the general manager of Human Resources Department. Mr. Chi holds a Bachelor's degree in Engineering from the Academy of Armored Forces Engineering in
Beijing and an Executive Master of Business Administration (EMBA) from the University of International Business and Economics in Beijing.
Save as disclosed above, Mr. Chi has not held other directorships in the last three years in public companies, the securities of which are listed on any securities market in Hong Kong or overseas, and does not have any relationship with any directors, senior management or substantial or controlling shareholders of the Company.
As at the date of this announcement, Mr. Chi is interested, by way of holding a long position, in 740,000 underlying shares of China Foods Limited, an associated corporation of the Company, pursuant to share options granted to him under a share option scheme of China Foods Limited. Saved as disclosed herein, Mr. Chi is not interested nor deemed to be interested in any share, underlying share or debenture of the Company and its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance.
There is a service contract entered into between the Company and Mr. Chi. Subject to relevant provisions of the articles of association of the Company, his term is for three years commencing on 16 October 2015. The service contract may be terminated by not less than three months' written notice by either party. The emoluments of Mr. Chi will be determined by the Remuneration Committee of the Company with reference with the Company's remuneration policy applicable to his position.
Save as disclosed above, there are no other matters relating to the re-designation that need to be brought to the attention of the shareholders of the Company or to be disclosed pursuant to Rules 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited.
By Order of the Board
China Agri-Industries Holdings Limited CHI JingtaoChairman
Hong Kong, 16 October 2015
As at the date of this announcement, the Board comprises: Mr. CHI Jingtao as chairman of the Board and executive director; Mr. YUE Guojun and Mr. SHI Bo as executive directors; Mr. NING Gaoning, Mr. YU Xubo and Mr. MA Wangjun as non-executive directors; and Mr. LAM Wai Hon, Ambrose, Mr. Patrick Vincent VIZZONE and Mr. ONG Teck Chye as independent non-executive directors.
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