By 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 Bermuda with limited liability)
(Stock Code: 00894) CHANGES OF EXECUTIVE DIRECTOR
The Board announces that Mr. Yeung Yuk Lun has been appointed as an Executive Director of the Company with effect from 1 March 2013; and Mr. Ko Pak On has resigned as an Executive Director of the Company with effect from 28 February 2013.
The board of directors (the "Board") of Man Yue Technology Holdings Limited (the "Company", and together with its subsidiaries, the "Group") is pleased to announce that Mr. Yeung Yuk Lun ("Mr. Yeung") has been appointed as an executive director of the Company (the "Executive Director") with effect from 1 March 2013.
Mr. Yeung Yuk Lun, aged 41, is the Chief Financial Officer of the Group. Mr. Yeung was the Financial Controller of the Group from July 2007 to February 2010. He re-joined the Group in November 2011 as the Chief Financial Officer and is responsible for the Group's financial planning, internal control and management, regulatory compliance and investor relations functions. Prior to joining the Group, Mr. Yeung has held senior management positions in different listed companies in Hong Kong. He has extensive experience in auditing, financial and treasury management, information technology, executive management as well as business development. He holds a Bachelor degree in Business Administration (Professional Accountancy) and a Master degree in Business Administration from the Chinese University of Hong Kong. He is an associate member of the Hong Kong Institute of Certified Public Accountants and the Taxation Institute of Hong Kong.
As at the date of this announcement, there is no service contract signed between the Company and Mr. Yeung, and he has not been appointed for specific terms. He will be subject to retirement and re-election at the forthcoming annual general meeting of the Company in accordance with the Bye-laws of the Company.
Mr. Yeung remains as the Chief Financial Officer of the Group and will be entitled to receive an annual emolument of HK$2,100,000 as an Executive Director and the Chief Financial Officer. His remuneration is determined by the Board with reference to market conditions, the Company's remuneration policy, his qualifications, his scope of responsibilities, and the recommendations of the Remuneration Committee of the Company.
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Save as disclosed above, Mr. Yeung is not related to any directors, senior management, substantial or controlling shareholders of the Company and he does not hold (i) any directorship 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 this announcement; (ii) any other major appointments and professional qualifications.
As at the date of this announcement, Mr. Yeung does not have any interests in the shares of the Company, which are required to be disclosed under Part XV of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong).
Save as disclosed above, there is no other information relating to Mr. Yeung's appointment which is required to be disclosed pursuant to Rule 13.51 (2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and there are no other matters that need to be brought to the attention of the shareholders of the Company.
The Group also announces that Mr. Ko Pak On ("Mr. Ko") has tendered his resignation as an
Executive Director of the Company with effect from 28 February 2013.
Mr. Ko joined the Group in 1984 and he is also a director of several major operating subsidiaries of the Group. After having served the Group for over 28 years, Mr. Ko has decided to retire from full-time employment.
Mr. Ko has confirmed that he has no disagreement with the Board of the Company and there are no matters that need to be brought to the attention of the shareholders of the Company in relation to his resignation.
The members of the Board would like to extend a warm welcome to Mr. Yeung as a new member of the Board and also express their gratitude to Mr. Ko for his valuable contributions to the Company during his tenure of office.
On behalf of the Board
Chairman
Hong Kong, 29 January 2013
As at the date of this announcement, the Executive Directors of the Company are Ms. Kee Chor Lin, Mr. Chan Yu Ching, Eugene, Mr. Ko Pak On, and Mr. Wong Ching Ming, Stanley and the Independent Non-Executive Directors of the Company are Dr. Li Sau Hung, Eddy, Mr. Lo Kwok Kwei, David and Mr. Mar, Selwyn.
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