China Railway Construction Corp Limited : OVERSEAS REGULATORY ANNOUNCEMENT ANNOUNCEMENT IN RESPECT OF CHANGE OF INTERNAL CONTROL AUDITOR
04/27/2012| 04:19am US/Eastern
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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.
OVERSEAS REGULATORY ANNOUNCEMENT
ANNOUNCEMENT IN RESPECT OF CHANGE OF INTERNAL CONTROL
AUDITORS
This announcement is made pursuant to Rule 13.09(2) of the
Rules Governing the Listing of Securities on The Stock
Exchange of Hong Kong Limited.
In order to meet the requirements of China Securities
Regulatory Commission in relation to "to standardize the
internal control audit and to push forward the integration of
audit", China Railway Construction Company Limited (the
"Company") intends to integrate the work of internal control
audit and audit of financial statements. After review by the
audit and risk management committee of the second session of
the board of directors and consideration and approval at the
12th meeting of the second session of the board of directors,
it was proposed that Ernst & Young Hua Ming be appointed as
the Company's internal control auditors for 2012 at the
general meeting of the Company. Upon the communication with
Crowe Horwath China CPAs, which has served as the Company's
internal control auditors, the Company had decided not to
re-engage Crowe Horwath China CPAs as the Company's internal
control auditors. Crowe Horwath China CPAs has no objection
toward the Company's decision.
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Fees for auditing for 2012 are to be considered by the board
of directors after negotiation between the management
(delegated by the board of directors) and Ernst & Young Hua
Ming.
The aforesaid matter is subject to consideration and approval
at the general meeting of the
Company.
The independent directors of the Company are of the opinion
that the change of internal control auditors by the Company
is in compliance with relevant provisions of laws,
administrative regulations and the Articles of the
Association and is conducive to better internal control audit
work, and have hereby agreed to submit such proposal to the
2011 annual general meeting of the Company for
consideration.
By order of the Board
China Railway Construction Corporation Limited
MENG Fengchao
Chairman
Beijing, the PRC
27 April 2012
As at the date of this announcement, the Board comprises Mr.
MENG Fengchao (Chairman and Executive Director), Mr. PENG
Shugui (Vice Chairman and Executive Director), Mr. ZHAO
Guangfa (President and Executive Director), Mr. HU Zhenyi
(Executive Director), Mr. ZHU Mingxian (Non-executive
Director), Mr. LI Kecheng (Independent Non-executive
Director), Mr. ZHAO Guangjie (Independent Non-executive
Director), Mr. WU Taishi (Independent Non-executive Director)
and Mr. NGAI Wai Fung (Independent Non-executive Director).
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