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Sun Art Retail Group Limited : Announcements and Notices - Announcement of Change of Information of Director

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02/05/2013 | 03:38pm CET

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 Hong Kong with limited liability)


This announcement is made pursuant to Rule 13.51B(2) of the Rules Governing the Listing of
Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited.
Sun Art Retail Group Limited (the "Company") received a notification from Mr. Desmond Murray ("Mr. Murray"), an independent non-executive director of the Company, on 4 February 2013 that B&Q Ireland Ltd. ("BQI"), a private company of which he was an independent non-executive director until his resignation on 23 October 2012, entered into examinership pursuant to an order (the "Order") of the High Court of Ireland (the "Irish Court") granted on 31 January 2013.
Pursuant to the Order, the Irish Court ordered that Declan McDonald of PwC be appointed as interim examiner of BQI. As far as Mr. Murray is aware, examinership is a process under the laws of the Republic of Ireland whereby the protection of the Irish Court is obtained to assist an insolvent company to prepare a scheme of arrangement with its creditors.
As an independent non-executive director of BQI, Mr. Murray did not participate in the day to day business of BQI and was not a director of BQI at the time when the Order was granted. Accordingly, Mr. Murray confirms that he is not aware of any specific plan or scheme of arrangement to be carried out by BQI pursuant to the Order and is not in a position to indicate the outcome of examinership. The board of directors of the Company has no further information on the Order other than those set out above which is based on information provided by Mr. Murray. Save as disclosed above, there are no other matters relating to the entering into of examinership by BQI that need to be brought to the attention of the shareholders of the Company.
BQI is a company incorporated in the Republic of Ireland and is principally engaged in sale of do-it-yourself products.
The entering into of examinorship by BQI falls under an event described in Rule 13.51(2)(l) of the Listing Rules. Therefore, pursuant to Rule 13.51B(2) of the Listing Rules, the Company is required to make an announcement in relation thereto.
By order of the Board

Sun Art Retail Group Limited Bruno Robert MERCIER Chief Executive Officer and Executive Director

Shanghai, 5 February 2013
As at the date of this announcement, the Directors are:

Executive Directors:

Bruno Robert MERCIER HUANG Ming-Tuan

Non-Executive Directors:

CHENG Chuan-Tai
Benoit, Claude, Francois, Marie, Joseph LECLERCQ Philippe David BAROUKH
Xavier Marie Alain DELOM DE MEZERAC

Independent Non-Executive Directors:

Karen Yifen CHANG Desmond MURRAY HE Yi

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