Global Bio chem Technology : Announcements and Notices - Appointment of Executive Director

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(incorporated in the Cayman Islands with limited liability)

The Board (the "Board") of directors (the "Directors") of Global Bio-chem Technology Group Company Limited (the "Company", together with its subsidiaries, the "Group") announces that Mr. Ji Jianping ("Mr. Ji") has been appointed as an executive Director and chief executive officer with effect from 12 March 2015.
Mr. Ji, aged 56, was graduated from Jilin University in 1982 and holds a bachelor degree in economics. During 1996 to 2012, Mr. Ji worked as a deputy general manager of Changchun Dacheng Industrial Group Co., Ltd., a wholly-owned subsidiary of the Company. He then worked as the deputy general manager of Jilin COFCO Biochemistry Co., Ltd., a wholly owned subsidiary of COFCO Limited from 2012 to 2014 prior to joining the Group as a general manager in October
2014. Mr. Ji also serves on various committees relating to the food processing, starch, rice and corn industries at national and provincial levels.
As at the date of this announcement, Mr. Ji was interested in 660,000 shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance. Save as disclosed, during the three years immediately before the date of this announcement, Mr. Ji had not held any directorship in other listed public companies or had any other major appointments and qualifications. Mr. Ji is not related to any Directors, senior management or substantial or controlling shareholders of the Company.
Mr. Ji has entered into a service contract with the Company for an initial term of three years commencing on 12 March 2015, which shall be renewable automatically for successive terms of one year unless terminated by not less than three months' notice in writing served by either party. Under the service contract, Mr. Ji is presently entitled to (i) a monthly salary of HK$90,000 and RMB38,000, subject to such increase as the Board may, subject to compliance with the articles of association of the Company, determine provided that such increase shall not exceed 15% per annum of the amount of salary paid during the previous 12 month period and (ii) on completion of every
12 months of service, a management bonus in respect of each financial year of the Company in an

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amount to be determined by the Board, provided that the total amount of bonuses payable to all the executive Directors shall not exceed 5% of the combined or, as the case may be, consolidated audited net profit of the Group (after taxation and minority interests and the payment of such bonuses but before extraordinary items) for that financial year. Mr. Ji'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. Ji as executive Director and chief executive officer 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 Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The Board takes this opportunity to express its warm welcome to Mr. Ji to the Board.
By order of the Board

Chairman

Hong Kong, 12 March 2015

As at the date of this announcement, the Board comprises five executive Directors, namely Mr. Liu Xiaoming, Ms. Xu Ziyi, Mr. Li Weigang, Mr. Wang Yongan and Mr. Ji Jianping and two independent non-executive Directors, namely Mr. Chan Chi Wai, Benny and Mr. Ng Kwok Pong.

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