WEST CHINA CEMENT 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.
WEST CHINA CEMENT LIMITED
中 國 西 部 水 泥 有 限 公 司
(Incorporated in Jersey with limited liability, with registered number 94796)
(Stock Code: 2233)
CHANGE OF CHIEF EXECUTIVE OFFICER AND RE-DESIGNATION OF DIRECTOR
RESIGNATION OF EXECUTIVE DIRECTORS, CHIEF EXECUTIVE OFFICER, DEPUTY CHIEF EXECUTIVE OFFICER AND INVESTOR RELATIONS DIRECTOR
The board of directors (the ''Board'') of West China Cement Limited (the ''Company'', and together with its subsidiaries, the ''Group'') wishes to announce the following changes to the Board, all with effect from 5 February 2015.
(1) Dr. Ma Weiping, a non-executive Director, has been re-designated as an executive director of the Company (''Director'') and appointed as the chief executive officer of the Company (''Chief Executive Officer'');
(2) Mr. Tian Zhenjun has resigned as executive Director and Chief Executive Officer;
and
(3) Ms. Low Po Ling has resigned as executive Director, deputy chief executive officer and investor relations Director.
The Board wishes to announce the following changes to the Board, all with effect from 5
February 2015. These changes will contribute to the continued professionalisation of the management of the Company as well as bring international industry expertise to the Board.
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RE-DESIGNATION OF DIRECTOR AND APPOINTMENT OF CHIEF EXECUTIVE OFFICER
The Board is very pleased to announce that Dr. Ma Weiping (''Dr. Ma''), a non-executive Director, has been re-designated as executive Director and appointed as Chief Executive Officer with effect from 5 February 2015.
Dr. Ma, aged 53, was appointed non-executive Director of the Company in June 2012. He has over 20 years of management and technical experience in the building materials industry in both the United States of America and China. From 1996 to 2002, Dr. Ma served as senior process engineer and held several management positions for Holcim in Michigan, United States. From 2002 to 2005, Dr. Ma served as vice president of marketing and sales for Lafarge (China) in Beijing and served in a similar position for Lafarge Shuion Cement from 2005 to 2008. From 2008 to 2009, he served as general manager and vice president for Lafarge A&C in China. From 2009 to 2012, Dr. Ma was managing director of Fuping Cement, a company wholly owned by Italcementi Group. Preceding his appointment as executive Director and Chief Executive Officer, Dr. Ma was Chief Representative and Country Manager in China for the Italcementi Group. Dr. Ma received a bachelor's degree in Inorganic and Non-Metallic Materials from Tongji University, Shanghai in 1982, a master's degree in Solid State Science and a Ph.D in Materials from Pennsylvania State University in
1991 and 1994, respectively. Dr. Ma also obtained a Master of Business Administration in
Integration Management from Michigan State University in 2002.
Saved as disclosed herein, as at the date of this announcement, Dr. Ma held no other directorships in any listed public companies in the last three years other than that of the Company and does not have other major appointments or professional qualifications, and he does not have any relationship with any Directors, senior management, substantial shareholders or controlling shareholders of the Company. As at the date of this announcement, Dr. Ma was beneficially interested in 1,650,000 shares of the Company within the meaning of Part XV of the Hong Kong Securities and Futures Ordinance (the
''SFO''). Saved as disclosed, Dr. Ma has no other interest in the Company which is discloseable under Part XV of the SFO.
Dr. Ma has entered into a new service contract with the Company for a term of one year commencing from 5 February 2015, subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the articles of association of the Company. Dr. Ma will be entitled to receive a remuneration of HK$1.75 million per annum, which was determined by reference to the prevailing market situation and his duties and responsibilities with the Company.
Save as disclosed herein, there are no other matters concerning Dr. Ma that need to be brought to the attention of the shareholders of the Company (the ''Shareholders''), and there is no other information that is required to be disclosed pursuant to rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
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RESIGNATION OF EXECUTIVE DIRECTOR AND CHIEF EXECUTIVE OFFICER
The Board also announces that Mr. Tian Zhenjun (''Mr. Tian'') has resigned as executive Director and Chief Executive Officer with effect from 5 February 2015 in accordance with the Group's internal reorganisation and redesignation of duties and responsibilities. Mr. Tian will continue to serve the Group in his role as a director of Yaobai Special Cement Group Co., Ltd. (''Yaobai''), an indirectly wholly-owned subsidiary of the Company incorporated in the PRC. Mr Tian joined the Company in 1998 and has contributed significantly to the Company's growth over the past 17 years, holding several senior management positions. Mr. Tian has confirmed that he has no disagreement with the Board and that there are no matters relating to his resignation that should be brought to the attention of the Stock Exchange and the Shareholders. The Board wishes to express its sincere gratitude to Mr. Tian for his contributions to the Company over the years and looks forward to his continued guidance in his role at Yaobai.
RESIGNATION OF EXECUTIVE DIRECTOR, DEPUTY CHIEF EXECUTIVE OFFICER AND INVESTOR RELATIONS DIRECTOR
The Board also announces that Ms. Low Po Ling (''Ms. Low'') has resigned as executive Director, deputy chief executive officer and investor relations Director of the Company with effect from 5 February 2015 in order to devote more time to her family and other personal affairs. Ms. Low has confirmed that she has no disagreement with the Board and that there are no matters relating to her resignation that should be brought to the attention of the Stock Exchange and the Shareholders. The Board wishes to express its sincere gratitude to Ms. Low for her contributions to the Company's investor relations and capital markets activities during her tenure of office.
Following Ms. Low's resignation, Mr. Anthony Schindler (''Mr. Schindler''), in the role of investor relations executive, will continue to be responsible for all the investor relations and capital market communications of the Company. Mr. Schindler, a Mandarin Chinese speaker, has worked with the Company in various capacities since 2006 and has over 20 years of PRC and Asian capital markets experience.
The Board would like to take this opportunity to welcome Dr. Ma in his new role in the Company and to express its gratitude to Mr. Tian and Ms. Low for their contributions to the Company.
By Order of the Board West China Cement Limited Zhang Jimin
Chairman
Hong Kong, 5 February 2015
As at the date of this announcement, the executive Directors are Mr. Zhang Jimin, Mr. Wang Jianli and Dr. Ma Weiping, the non-executive Director is Mr. Ma Zhaoyang, and the independent non-executive Directors are Mr. Lee Kong Wai, Conway, Mr. Wong Kun Kau and Mr. Tam King Ching, Kenny.
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