SEAZEN GROUP 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.
(Incorporated in the Cayman Islands with limited liability) (Stock Code: 1030)
APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR, MEMBER OF THE REMUNERATION COMMITTEE, THE NOMINATION COMMITTEE AND THE AUDIT COMMITTEE
The Board of Future Land Development Holdings Limited is pleased to announce that Mr. Zhong Wei has been appointed as an independent non-executive Director, a member of the remuneration committee, the nomination committee and the audit committee of the Company with effect from
3 December 2014.
Reference is made to the announcement of Future Land Development Holdings Limited (the "Company" and its subsidiaries, collectively the "Group") dated 8 October 2014 in relation to, among other things, insufficient number of independent non-executive directors.
The board (the "Board") of directors (the "Directors") of the Company is pleased to announce that Mr. Zhong Wei ("Mr. Zhong") has been appointed as an independent non-executive Director, a member of the remuneration committee, the nomination committee and the audit committee of the Company with effect from 3 December 2014.
Mr. Zhong, aged 45, has been a professor at the Department of Economics and Business Administration, Beijing Normal University since July 1999. Mr. Zhong worked as a lecturer at the Business School of Jiangnan University from July 1994 to July 1997. Mr. Zhong also served as an assistant engineer at Wuxi Alarm Devices Factory (m��'I!ilffill)* from July 1990 to July
1992. Mr. Zhong served as an independent director for Dongxing Securities Co., Ltd. since July
2011, which principally provides securities dealings and related services. Mr. Zhong also served as an independent director for Fudian Bank Co., Ltd. since September 2012, which principally offers commercial and investment banking services. Mr. Zhong graduated from Nanjing University in 1990 majoring in applied physics and from Southeast University in 1994 majoring in industrial economics management. Mr. Zhong received his doctorate's degree in 1999 from Beijing Normal University majoring in international economics. Between September 2001 and July 2004, Mr. Zhong engaged in postdoctoral research in management science at Tongji University.
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Save as disclosed above, Mr. Zhong has not held any directorships in other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years preceding the date of his appointment and does not hold any position with the Company or any other members of the Group.
To the best knowledge of the Directors and save as disclosed above, Mr. Zhong has no relationship with any Directors, senior management, substantial shareholders or controlling shareholders of the Company.
As far as the Board is aware, as at the date of this announcement, Mr. Zhong does not have or is not deemed to have any interests or short positions in the shares or underlying shares of the Company pursuant to Part XV of the Securities and Futures Ordinance.
By a letter of appointment (the "Appointment Letter") entered into between Mr. Zhong and the Company in relation to the appointment of Mr. Zhong as an independent non-executive Director on 3 December 2014, Mr. Zhong is appointed for a specific term of two years commencing from
3 December 2014, and may be terminated in accordance with the terms of the Appointment Letter. His appointment is subject to retirement by rotation and re-election at the annual general meetings of the Company in accordance with the Company's articles of association or any other applicable laws whereby he shall vacate his office. He is entitled to emoluments of RMB250,000 per annum which was determined by the Board with reference to his job responsibility and prevailing market rate, together with discretionary bonus based on his performance.
Mr. Zhong has confirmed that he meets the independence criteria set out in rule 3.13 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). Save as disclosed above, Mr. Zhong has confirmed that there is no information relating to him that needs to be disclosed pursuant to rule 13.51(2) of the Listing Rules or matters that need to be brought to the attention of the shareholders of the Company in relation to the appointment.
The Board would like to take this opportunity to extend the warmest welcome to Mr. Zhong in joining the Board.
Upon the appointment of Mr. Zhong, the Company is in compliance with requirements under Rules 3.10, 3.10A, 3.21 and 3.25 of the Listing Rules, and Code Provision A.5.1 of the Corporate Governance Code contained in Appendix 14 to the Listing Rules.
By order of the Board
Chairman
PRC, 3 December 2014
As at the date of this announcement, our Directors are Mr. Wang Zhenhua, Mr. Liu Yuanman, Mr. Liang Zhicheng and Madam Huang Maoli as executive Directors, Mr. Lv Xiaoping and Mr. Wang Xiaosong as non-executive Directors, and Mr. Chen Huakang, Mr. Zhong Wei and Mr. Zhu Zengjin as independent non-executive Directors.
* Denotes English translation of the name of a Chinese company or entity or vice versa and is provided for identification purpose only.
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