Min Xin : CHANGES TO THE BOARD COMPOSITION AND AUTHORISED REPRESENTATIVE

Microsoft Word - changes of Directors - Eng 14-04-2016

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MIN XIN HOLDINGS LIMITED

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(Incorporated in Hong Kong with limited liability)

(Stock Code: 222)

CHANGES TO THE BOARD COMPOSITION AND AUTHORISED REPRESENTATIVE

The board of directors of Min Xin Holdings Limited is pleased to announce the following changes to the Board composition and authorised representative of the Company with effect from 25 April 2016 :

1. Mr. Peng Jin Guang has been appointed as an Executive Director, the Chairman of the Board, the Chairman of the Executive Committee and Nomination Committee and an authorised representative of the Company;

2. Mr. Weng Ruo Tong has resigned as the Chairman of the Board, the Chairman of the Executive Committee and Nomination Committee. Mr. Weng has also ceased to be an authorised representative of the Company. Mr. Weng will continue to serve as an Executive Director and a member of the Executive Committee of the Company; and

3. Mr. Yang Fang has resigned as a Non-executive Director of the Company.

The board of directors (the "Board") of Min Xin Holdings Limited (the "Company") is pleased to announce the following changes to the Board composition and authorised representative of the Company under the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited with effect from 25 April 2016 :

RESIGNATION OF THE CHAIRMAN OF THE BOARD AND AUTHORISED REPRESENTATIVE

Mr.Weng Ruo Tong ("Mr. Weng") has resigned as the Chairman of the Board, the Chairman of the Executive Committee and Nomination Committee of the Company due to his other work commitments in Mainland China with effect from 25 April 2016. Mr. Weng has also ceased to be an authorised representative of the Company with effect from 25 April 2016.

Mr Weng will continue to serve as an Executive Director and a member of the Executive Committee of the Company.

Mr. Weng has confirmed that he has no disagreement with the Board and there is no other matter regarding his resignation that needs to be brought to the attention of the shareholders of the Company.

The Board would like to express its sincere gratitude to Mr. Weng for his valuable contributions and wise counsel during his tenure of office as the Chairman of the Board.

APPOINTMENT OF EXECUTIVE DIRECTOR, THE CHAIRMAN OF THE BOARD AND AUTHORISED REPRESENTATIVE

Mr. Peng Jin Guang ("Mr. Peng") has been appointed as an Executive Director, the Chairman of the Board, the Chairman of the Executive Committee and Nomination Committee and an authorised representative of the Company with effect from 25 April 2016.

Mr. Peng, aged 53, is a university graduate and holds a Bachelor's Degree in Economics. He is a Senior Accountant and Senior Lecturer in Mainland China. He has spent a substantial period of time in corporate management and has extensive experience in corporate, financial and capital management. He is currently the General Manager and Vice Chairman of Fujian Investment & Development Group Co., Ltd., a controlling shareholder of the Company. He has previously assumed the positions of the Director of the Teaching and Research Section and Chief of the Academic Affairs Office of Fujian Ningde Finance and Economics School, Director of Accounting Center, Deputy Chief Accountant, Assistant General Manager and Chief Accountant of Fujian Investment and Development Corporation, the Financial Controller of CNOOC Fujian Natural Gas Co., Ltd., the Deputy General Manager and the Chief Accountant of Fujian Investment & Development Group Co., Ltd.. Mr. Peng has also assumed the positions of an Executive Director and the Vice Chairman of the Company for the period from 18 June 2012 to 26 August 2014.

Save as disclosed above, Mr. Peng has not held any position with the Company or any of its subsidiaries and he has not held any directorships in other listed public company in the past three years.

Save as disclosed above, Mr. Peng 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. Peng does not have any interest in shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

There is no service contract entered into between the Company and Mr. Peng. Mr. Peng has not been appointed for a specific term but will be subject to retirement by rotation and re- election at annual general meetings of the Company in accordance with the provisions of the Articles of Association of the Company. Mr. Peng is entitled to a director's emoluments of HK$60,000 per annum for acting as a director of the Company, such amount being determined from time to time by the Board with reference to the prevailing market conditions, the situation of the Company and his job responsibilities.

Save as disclosed above, the Board is not aware of any other matters relating to the appointment of Mr. Peng that need to be brought to the attention of the shareholders of the Company nor any information to be disclosed pursuant to the requirements of Rule 13.51(2)(h) to 13.51(2)(v) of the Listing Rules.

The Board would like to take this opportunity to extend its warmest welcome to Mr. Peng in joining the Board.

RESIGNATION OF NON-EXECUTIVE DIRECTOR

Mr. Yang Fang ("Mr. Yang") has resigned as a Non-executive Director of the Company due to his other work commitments in Mainland China with effect from 25 April 2016.

Mr. Yang has confirmed that he has no disagreement with the Board and there is no other matter regarding his resignation as a Non-executive Director that needs to be brought to the attention of the shareholders of the Company.

The Board would like to express its sincere gratitude to Mr. Yang for his valuable contributions to the Company during his tenure of office.

By Order of the Board

Min Xin Holdings Limited Liu Cheng

Executive Director and General Manager

Hong Kong, 25 April 2016

As at the date of this announcement, the Executive Directors of the Company are Messrs Peng Jin Guang (Chairman), Wang Fei (Vice Chairman), Weng Ruo Tong and Liu Cheng; the Non-executive Directors are Messrs Liu Lun and Hon Hau Chit; the Independent Non-executive Directors are Messrs Ip Kai Ming, Sze Robert Tsai To and So Hop Shing.