China Hanking Holdings Limited
CHINA HANKING: Announces Change in Shareholding – Completion of Management Transition to Enhance Efficiency and Professionalism in Board’s Execution of Operation
【For Immediate Release】 Announces Change in Shareholding [25 May 2016, Hong Kong] China Hanking Holdings Limited (“China Hanking” or the “Group“; Stock code: 3788) announced that Ms. Yang Min, one of the controlling shareholders of the Company, transferred (through China Hanking (BVI)) 200,000,000 shares of the Company to Mr. Yang Jiye, one of the controlling shareholders of the Company, (through Tuochuan Capital) at a nominal consideration. Upon the completion of change in shareholding, Mr. Yang Jiye’s share interest in the Company increased from 23.19% to 34.12%; whilst Ms. Yang Min’s share interest in the Company decreased from 43.71% to 32.78%. On 18 March 2016, China Hanking announced a restructuring of its Board of Directors and senior management. Mr. Yang Jiye was appointed as Chairman of the Board and Executive Director in place of Ms. Yang Min. There were also changes of composition of the Remuneration Committee, the Audit Committee and the Nomination Committee. Upon the completion of change in shareholding, Ms. Yang Min and Mr. Yang Jiye will continue to have an aggregate interest of 66.90% in the total issued shares of the Company, manifesting the continued support from the controlling shareholders to China Hanking. That also accomplished the transition between the new and preceding management and enhanced efficiency. Faced with the most difficult year since its listing when the iron ore market was in its slump, the Group experienced tremendous challenges in its traditional business. New management, with the support from key management team, will uphold the strategies of “stringent cost control, prudent investment, debt reduction, optimising of business structure”. Meanwhile, the Group will be inspired by the new Chairman with his enriched experience and insights in the mining industry, corporate governance and management, and infused with new perspectives and visions. The execution capability of the Board will be enhanced in terms of efficiency and professionalism, thereby fostering the restructuring and upgrading its businesses, with a view to creating greater value for the Company and shareholders. -End- About China Hanking Holdings Limited Issued by Anli Financial Communications Limited and on behalf of China Hanking Holdings Limited. Media enquiries: Document: http://n.eqs.com/c/fncls.ssp?u=PKXHXOTCCR Document title: CHINA HANKING: Announces Change in Shareholding – Completion of Management Transition to Enhance Efficiency and Professionalism in Board’s Execution of Operation Key word(s): Change of Personnel
25/05/2016 Dissemination of a Press Release, transmitted by EQS TodayIR – a company of EQS Group AG. |