Air China Ld PROPOSED APPOINTMENT OF NED RESIGNATION OF INED (5571A)
22 January 2020 - 6:00PM
UK Regulatory
TIDMAIRC
RNS Number : 5571A
Air China Ld
22 January 2020
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.
AIR CHINA LIMITED
(a joint stock limited company incorporated in the People's
Republic of China with limited liability)
(Stock Code: 00753)
PROPOSED APPOINTMENT OF NON-EXECUTIVE DIRECTOR RESIGNATION OF
INDEPENDENT NON-EXECUTIVE DIRECTOR
PROPOSED APPOINTMENT OF NON-EXECUTIVE DIRECTOR
The board of directors (the "Board") of Air China Limited (the
"Company") resolved on 21 January 2020 to propose to appoint Mr.
Feng Gang ("Mr. Feng") as non-executive director of the Company.
The proposed appointment is subject to the approval by shareholders
of the Company (the "Shareholders") at the general meeting of the
Company. Due to adjustment of work arrangement, Mr. Feng resigned
from his position as vice president of the Company with effect from
21 January 2020.
Mr. Feng Gang, aged 56, graduated from Sichuan University
majoring in semiconductor. He started his career in July 1984. Mr.
Feng was the Deputy General Manager of China Southwest Airlines,
the Assistant to President of Air China International Corporation,
and the General Manager and Secretary of the Communist Party
Committee of China National Aviation Holding Assets Management
Company. He was appointed as the Chairman, President and Deputy
Secretary of the Communist Party Committee of Shandong Aviation
Group Corporation from May 2007 to April 2010. He served as the
General Manager and Deputy Secretary of the Communist Party
Committee of Shenzhen Airlines Company Limited from April 2010 to
April 2014. He also served as Vice President and a member of the
Standing Committee of the Communist Party Committee of the Company
from April 2010 to August 2014. From April 2014 to November 2019,
Mr. Feng served as the Deputy General Manager and a member of the
Communist Party Group of China National Aviation Holding
Corporation Limited. He has also been serving as the Chairman of
China National Aviation Construction and Development Company and
China Air Express Co., Ltd. since June 2014. He was appointed as
non-executive director of the Company from August 2014 to October
2017. He has been serving as the Vice Chairman of Tibet Airlines
Company Limited since May 2018. He served as Vice President and a
member of the Standing Committee of the Communist Party Committee
of the Company from May 2017 to November 2019. He has been serving
as director and Deputy Secretary of the Communist Party Group of
China National Aviation Holding Corporation Limited, and the Deputy
Secretary of the Communist Party Committee of the Company since
November 2019.
Save as disclosed above and as at the date of this announcement,
Mr. Feng does not have any relationship with any directors, senior
management, substantial shareholder(s) or controlling
shareholder(s) of the Company or hold any other positions in the
Company or any of its subsidiaries, or any directorship in other
listed companies in the last three years.
As at the date of this announcement, Mr. Feng does not have any
interest in the shares of the Company within the meaning of Part XV
of the Securities and Futures Ordinance (Chapter 571 of the Laws of
Hong Kong).
Upon approval of Mr. Feng's appointment at a general meeting of
the Company, Mr. Feng will enter into a service contract with the
Company for a term commencing on the date of approval by the
Shareholders of his appointment and ending on the expiry of the
term of the current session of the Board. Mr. Feng will not receive
any remuneration for his serving as director of the Company.
Save as disclosed above, the Board is not aware of any other
matters in relation to the proposed appointment of Mr. Feng as
non-executive director of the Company that need to be brought to
the attention of the Shareholders nor any 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(the "Hong Kong Listing Rules").
A notice of general meeting of the Company containing, among
others, detailed information of the above-mentioned matters will be
despatched to the Shareholders in due course.
RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR
The Board received a resignation letter from Mr. Liu Deheng
("Mr. Liu"), an independent non- executive director of the Company
recently. Due to personal reason, Mr. Liu tendered to the Board his
resignation as an independent non-executive director of the
Company, a member and the chairman of the Audit and Risk Control
Committee of the Board and a member of the Strategy and Investment
Committee of the Board, with effect from 21 January 2020.
Mr. Liu has confirmed that he has no disagreement with the Board
and the Company, and that he is not aware of any other matters
relating to his resignation that need to be brought to the
attention of the Shareholders. During his tenure as independent
non-executive director of the Company, Mr. Liu has worked
diligently and played an important role in standardised operation
and healthy development of the Company. The Board would like to
express its sincere gratitude to Mr. Liu for his outstanding
contribution to the Company during his tenure.
Following the resignation of Mr. Liu, the Company will fail to
meet (i) the requirement of at least one of the independent
non-executive directors having appropriate professional
qualifications or appropriate accounting or related financial
management expertise under Rule 3.10(2) of the Hong Kong Listing
Rules; and (ii) the composition requirement of the audit committee
under Rule 3.21 of the Hong Kong Listing Rules.
The Company will seek suitable candidate to fill the vacancy and
expects replacement to be appointed within three months from the
date hereof pursuant to Rules 3.11 and 3.23 of the Hong Kong
Listing Rules. The Company will make further announcement as and
when appropriate.
By Order of the Board
Air China Limited
Zhou Feng Tam Shuit Mui
Joint Company Secretaries
Beijing, the PRC, 21 January 2020
As at the date of this announcement, the directors of the
Company are Mr. Cai Jianjiang, Mr. Song Zhiyong, Mr. Patrick Healy,
Mr. Xue Yasong, Mr. Wang Xiaokang*, Mr. Stanley Hui Hon-chung* and
Mr. Li Dajin*.
* Independent non-executive director of the Company
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
BOABTMJTMTTTMLM
(END) Dow Jones Newswires
January 22, 2020 02:00 ET (07:00 GMT)
Air China Ld (LSE:AIRC)
Historical Stock Chart
From Apr 2024 to May 2024
Air China Ld (LSE:AIRC)
Historical Stock Chart
From May 2023 to May 2024