Change - Announcement of Cessation::Cessation of Executive Director

Issuer & Securities

Issuer/ Manager
CHIWAYLAND INTERNATIONAL LIMITED
Securities
CHIWAYLAND INTERNATIONAL LTD - SG1AA6000000 - ACW
CHIWAYLAND INTL W170108 - SG5BJ5000001 - ACXW
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
01-Jul-2016 18:28:38
Status
New
Announcement Sub Title
Cessation of Executive Director
Announcement Reference
SG160701OTHR8DR1
Submitted By (Co./ Ind. Name)
Qian Jianrong
Designation
Executive Chairman and Chief Executive Officer
Description (Please provide a detailed description of the event in the box below)
Cessation of Mr Li Bin as Executive Director of the Company

Additional Details

Name Of Person
Li Bin
Age
38
Is effective date of cessation known?
Yes
If yes, please provide the date
01/07/2016
Detailed Reason (s) for cessation
Mr Li Bin's resignation is part of the Company's efforts to comply with good corporate governance practice of having Independent Directors make up half of the Board of Directors. Mr Li Bin will continue to take part in the management, and serve as the President, 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
05/08/2014
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
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
3
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Executive Director and Chief Operating Officer
Role and responsibilities
Mr Li Bin assumes the roles and responsibilities of an Executive Director and Chief Operating Officer of the Group. He is responsible for the overall management of the daily operations 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
Mr Li Bin is deemed to be interested in 8,040,380 shares in the Company held by Floriland Co., Ltd, as a result of his 62.7% equity interest in Floriland Co., Ltd.
Past (for the last 5 years)
Suzhou Chiway Hovle Co., Ltd
Present
1) Shanghai Ruize Equity Investment Management Co., Ltd
2) Shanghai Ruiqi Equity Investment Management Co., Ltd
3) Shanghai Tongmo Assets Management Co., Ltd
4) Xuzhou Chiway Real Estate Development Co., Ltd
5) Wuxi Huarui Real Estate Co., Ltd
6) Suzhou Chiwayland Group Co., Ltd
7) Suzhou Ruixin Investment Co., Ltd
8) Suzhou Chiway Jiarun Real Estate Co., Ltd
9) Suzhou Chiway Jinhui Real Estate Co., Ltd
10) Suzhou Huatian Property Management Co., Ltd
11) Suzhou Chiway Commercial Investment Consulting Co., Ltd
12) Suzhou Xingshang Tiandi Real Estate Co., Ltd
13) Suzhou Chiway Huayuan Real Estate Co., Ltd
14) Suzhou Chiway Shanghong Real Estate Co., Ltd.