Change - Announcement of Cessation::Resignation of Executive Chairman and Chief Executive Officer

Issuer & Securities

Issuer/ Manager
CHINA ESSENCE GROUP LTD.
Securities
CHINA ESSENCE GROUP LTD. - KYG2111N1043 - G54
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
03-Aug-2015 17:25:02
Status
New
Announcement Sub Title
Resignation of Executive Chairman and Chief Executive Officer
Announcement Reference
SG150803OTHRKTLR
Submitted By (Co./ Ind. Name)
Yap Kong Wai
Designation
Chief Financial Officer and Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Executive Chairman and Chief Executive Officer.

Additional Details

Name Of Person
Zhao Libin
Age
41
Is effective date of cessation known?
Yes
If yes, please provide the date
03/08/2015
Detailed Reason (s) for cessation
Pave way for Board Restructuring.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
No
Any other relevant information to be provided to shareholders of the listed issuer?
No
Date of Appointment to current position
15/08/2005
Does the AC have a minimum of 3 members (taking into account this cessation)?
Yes
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
1
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Chairman and Chief Executive Officer
Role and responsibilities
Responsible to the overall management of the Group
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nil
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
172,244,000 ordinary shares of China Essence Group Ltd. held through nominees.
Past (for the last 5 years)
Nil
Present
1) China Essence Group Limited (Hong Kong)

2) Huge Glory Holding Limited