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RESIGNATION AND APPOINTMENT OF EXECUTIVE DIRECTOR, CHANGE OF CHAIRMAN, AUTHORISED REPRESENTATIVE AND COMPLIANCE OFFICER AND APPOINTMENT OF NON-EXECUTIVE DIRECTOR

11/14/2011 | 06:55am US/Eastern
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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.




(Incorporated in the Cayman Islands with limited liability, the "Company")



(Stock Code: 8173)



RESIGNATION AND APPOINTMENT OF EXECUTIVE DIRECTOR,

CHANGE OF CHAIRMAN, AUTHORISED REPRESENTATIVE AND COMPLIANCE OFFICER

AND

APPOINTMENT OF NON-EXECUTIVE DIRECTOR





The Board announces that with effect from 30 November 2011,

(1) Mr. Wong Chung Yu, Denny will resign from the positions of an executive director, the chairman of the Board, an authorised representative and the compliance officer of the Company;

(2) Mr. Koh Tat Lee, Michael will be appointed as an executive director and the chairman of the Board of the Company;

(3) Mr. Eng Wee Meng, an executive director of the Company, will be appointed as an authorised representative and the compliance officer of the Company; and

(4) Mr. Liang Tong Wei will be appointed as a non-executive director of the Company.





RESIGNATION OF DIRECTOR, CHAIRMAN, AUTHORISED REPRESENTATIVE AND COMPLIANCE OFFICER



The board of directors ("Board") of Pan Asia Mining Limited ("Company") wishes to announce that Mr. Wong Chung Yu, Denny ("Mr. Wong") has tendered his resignation as an executive director, the chairman of the Board, the compliance officer and an authorised representative of the Company with effect from 30 November 2011 due to his other business aspirations.



Mr. Wong has confirmed that he does not have any disagreement with the Board and there are no other matters relating to his resignation that need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited.



The Board would like to take the opportunity to thank Mr. Wong for his leadership and professional services in the past.




APPOINTMENT OF EXECUTIVE DIRECTOR AND CHAIRMAN



The Board is pleased to announce that with effect from 30 November 2011, Mr. Koh Tat Lee, Michael ("Mr. Koh"), the chairman and a director of Black Sand Enterprises Limited ("BSEL"), a wholly-owned subsidiary of the Company, will be appointed as an executive director and the chairman of the Board of the Company.



Mr. Koh, aged 45, holds a Master degree of Electrical Engineering and a Master degree of Industrial Engineering from Columbia University in the United States. Mr. Koh possesses more than 10 years of experience in the telecommunications industry and project management. He has worked at Bell South and AT & T in the United States and was promoted to technical director before he left AT & T. Mr. Koh was the vice president of First Pacific Company Limited (stock code: 0142). During his tenure at First Pacific Company Limited from year 1994 to 1997, Mr. Koh founded a private company called Tuntex Telecom in Taiwan and assumed the post of president for the period from year 1995 to 1997. Mr. Koh was an executive director of M Dream Inworld Limited (stock code: 08100) and the chairman of China Railway Logistics Limited (stock code: 08089, formerly known as Proactive Technology Holdings Limited) before joining BSEL.



Mr. Koh has not entered into any service contract with the Company and is not appointed for a specific term. His current remuneration as the chairman and a director of BSEL is approximately HK$140,000 per month. Mr. Koh will hold office as an executive director of the Company until the next annual general meeting and will be eligible for re-election pursuant to the articles of association of the Company. Thereafter he will be subject to retirement by rotation and re-election at the subsequent annual general meetings of the Company.



Ms Eva Wong, the spouse of Mr. Koh, is holding 100% interest in Kesterion Investments Limited, a substantial shareholder of the Company, which in turn holds 272,558,400 ordinary shares, representing approximately 29.88% of the existing issued share capital of the Company. Ms. Eva Wong also holds 271,200 ordinary shares, representing approximately 0.03% of the existing issued share capital of the Company. Mr. Koh, being the husband of Ms. Eva Wong, is deemed to have interests in aggregate of 272,829,600, representing approximately 29.91% of the existing issued share capital of the Company.



Mr. Koh is at present also a director of the following subsidiaries of the Company:-



1. Black Sand Enterprises Limited (chairman);

2. Black Sand Securities Trading Limited;

3. Black Sand Resources Trading Limited;

4. Black Sand Metal Trading Limited;

5. Service Form Limited;

6.

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