Change - Announcement of Cessation::CESSATION OF EXECUTIVE CHAIRMAN AND CHIEF EXECUTIVE OFFICER

Issuer & Securities

Issuer/ Manager
CHINA FIBRETECH LTD.
Securities
CHINA FIBRETECH LTD. - BMG215452001 - AXL
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
23-Oct-2017 14:36:34
Status
New
Announcement Sub Title
CESSATION OF EXECUTIVE CHAIRMAN AND CHIEF EXECUTIVE OFFICER
Announcement Reference
SG171023OTHRIQE0
Submitted By (Co./ Ind. Name)
Choo Han Kiat, Eric
Designation
Executive Director
Description (Please provide a detailed description of the event in the box below)
Cessation of Executive Chairman and Chief Executive Officer

Additional Details

Name Of Person
Wu Xinhua
Age
62
Is effective date of cessation known?
Yes
If yes, please provide the date
23/10/2017
Detailed Reason (s) for cessation
Mr Wu Xinhua ("Mr Wu") will step down from his position as Executive Chairman and relinquish his role as Chief Executive Officer of the Company.

Mr Wu will continue to serve on the Board as a Director and will be re-designated as a Non-Executive Non-Independent Director of the Company.
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
27/07/2007
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)
3
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
Executive
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Nephew of Mr Wu Dezhi, who resigned as a Non-Executive Non-Independent Director of the Company on the same date.
Shareholding interest in the listed issuer and its subsidiaries?
Yes
Shareholding Details
Mr Wu Xinhua is deemed interested in the 4,522,094 shares of the Company held by Wellgain International Holdings Limited.
Past (for the last 5 years)
Nil
Present
Vice-President of ShiShi Chamber of Commerce
Honorary President of Shishi City Trustworthiness Association
Council Member of Quanzhou Textile Association
Honorary Director of Quanzhou Normal University
Deputy Chairman of Shishi Sixth Middle School
Director of Shishi City Jinting Primary School
Committee member of Shishi City s Political Consultative Committee

Attachments