CHINA DEVELOPMENT BANK INTERNATIONAL INVESTMENT LIMITED 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 content of this announcement.
CHINA DEVELOPMENT BANK INTERNATIONAL INVESTMENT LIMITED(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1062) (1) RESIGNATION OF DIRECTOR; (2) RE-DESIGNATION OF DIRECTOR; CHANGE OF MEMBERS OF NOMINATION COMMITTEE; AND CHANGE OF AUTHORIZED REPRESENTATIVE; AND (3) CHANGE OF CHIEF EXECUTIVE OFFICER
The Board announces that:
(1) Mr TENG Rongsong has resigned as an executive Director, the chairman of the Board, the chairman of nomination committee, the chief executive officer and the authorized representative of the Company with effect from 15 December 2014;
(2) Mr BAI Zhe, the executive Director, has been re-designated as the chairman of the Board and appointed as the chairman of the nomination committee and the authorized representative of the Company with effect from 15 December 2014; and
(3) Mr YUAN Chun, the executive director, has been appointed as the chief executive officer of the Company with effect from 15 December 2014 and his term of office as the vice president of the Company ended on the same day.
The board of directors (the "Board" or the "Directors") of China Development Bank International Investment Limited (the "Company") announces that Mr TENG Rongsong has resigned as an executive Director, the chairman of the Board, the chairman of nomination committee, the chief executive officer and the authorized representative of the Company with effect from 15 December
2014 to devote more time to his personal developments. Mr TENG has confirmed that he has no disagreement with the Board and is not aware of any matter in relation to his resignation that needs
to be brought to the attention of the holders of securities of the Company.
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The Board would like to express its sincere gratitude for the valuable contribution that Mr TENG has made to the Company during his tenure of services. The Board wishes Mr TENG every success in his future endeavours.
The Board of the Company announces that Mr BAI Zhe, the executive Director, has been re- designated as the chairman of the Board and appointed as the chairman of the nomination committee and the authorized representative of the Company with effect from 15 December 2014
Mr BAI Zhe, aged 38, has been appointed as an executive Director of the Company since 20
January 2014. He currently is the deputy chief executive officer of China Development Bank International Holdings Limited ("CDBIH"). Mr BAI joined the Company in July 2012 as the managing director of the Company. He served as the chief operating officer of CDBIH from January
2013 to July 2014. Prior to that, Mr BAI served as the deputy division head of Direct Investment Division IV and the division head of International Business Division of China Development Bank Capital Corporation Ltd. from 2011 to July 2014. From 1998 to 2011, Mr BAI had been working at, in chronological order, Tianjin Branch, a working mission of South America, Hong Kong Branch and International Finance Department of China Development Bank Corporation. Mr BAI obtained a Bachelor's degree in Law from Xiamen University in 1998. Mr BAI has extensive experience in general corporate management, international banking, finance and investment management.
Mr BAI has entered into a service agreement with the Company for a term of three years commencing on 20 January 2014 until terminated by either party by serving a notice in writing to the other of not less than three calendar months in accordance with the terms of the service agreement and subject to retirement by rotation, re-election or removal by resolution at the Company's annual general meetings in accordance with the memorandum and articles of association of the Company. Mr BAI will not receive a fixed annual fee for serving as a Director. However, Mr BAI is entitled to receive the discretionary bonus for the performance of his duties as an executive Director, which is determined with reference to the prevailing market rate and the Director's time commitment and expertise in the Company's affairs.
Save as disclosed above, as at the date of this announcement, Mr BAI has no other relationship with any Directors, senior management, substantial shareholders or controlling shareholders of the Company, and does not hold any other position in the Company or any subsidiaries of the Company nor any other directorship in listed public companies in the last three years.
Save as disclosed herein, Mr BAI does not have, and is not deemed to have any interests or short positions in any shares, underlying shares or debentures of the Company or any of its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance (the "SFO").
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Save as disclosed above, there is no information relating to Mr BAI that is required to be disclosed pursuant to Rule 13.51(2)(h) to Rule 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"), and there is no other matter in relation to the re-designation and the appointment of Mr BAI that needs to be brought to the attention of the holders of securities of the Company.
The Board would like to express its warm welcome to Mr BAI on his re-designation as the chairman of the Board and his appointment as the chairman of nomination committee and the authorized representative of the Company.
The Board of the Company announces that Mr YUAN Chun, the executive Director, has been appointed as the chief executive officer of the Company with effect from 15 December 2014 and his term of office as the vice president of the Company ended on the same day.
Mr YUAN Chun, aged 44, has been appointed as an executive Director of the Company since 13
June 2014. He served as the chief operating officer of CDBIH from December 2014. He joined CDBIH as managing director of investment division in April 2013. Mr YUAN was the vice president of the Company from 13 June 2014 to 15 December 2014. Prior to CDBIH, Mr YUAN held various senior positions in several financial institutions. From 1995 to 1998, Mr YUAN worked in the People's Bank of China. From 2002 to 2008, Mr YUAN worked with Global Markets division at Deutsche Bank and was a director in Capital Markets Department in HSBC. From 2008 to 2013, Mr YUAN was a managing director in ING Bank N.A. Hong Kong Branch and a managing director of Reorient Financial Markets Limited, a wholly-owned subsidiary of Reorient Group Limited (stock code: 376). Mr YUAN holds an MBA degree from INSEAD. He also holds a bachelor degree in economics from Peking University and an M.A. degree in international finance from the Graduate School of the People's Bank of China. Mr YUAN has extensive experience in corporate investment and finance and investment banking.
Mr YUAN has entered into a service agreement with the Company for a term of three years commencing on 13 June 2014 until terminated by either party by serving a notice in writing to the other of not less than three calendar months in accordance with the terms of the service agreement and subject to retirement by rotation, re-election or removal by resolution at the Company's annual general meetings in accordance with the memorandum and articles of association of the Company. Mr YUAN will not receive a fixed annual fee for serving as a Director. However, Mr YUAN is entitled to receive the discretionary bonus for the performance of his duties as an executive Director, which is determined with reference to the prevailing market rate and the Director's time commitment and expertise in the Company's affairs.
Save as disclosed above, as at the date of this announcement, Mr YUAN has no other relationship with any Directors, senior management, substantial shareholders or controlling shareholders of the Company, and does not hold any other position in the Company or any subsidiaries of the Company nor any other directorship in listed public companies in the last three years.
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Save as disclosed herein, Mr YUAN does not have, and is not deemed to have any interests or short positions in any shares, underlying shares or debentures of the Company or any of its associated corporations within the meaning of Part XV of the SFO.
Save as disclosed above, there is no information relating to Mr YUAN that is required to be disclosed pursuant to Rule 13.51(2)(h) to Rule 13.51(2)(v) of the Listing Rules, and there is no other matter in relation to the appointment of Mr YUAN that needs to be brought to the attention of the holders of securities of the Company.
The Board would like to express its warm welcome to Mr YUAN on his appointment as the chief executive officer of the Company.
By Order of the Board
Chairman
Hong Kong, 15 December 2014
As at the date of this announcement, the Board is comprised of Mr BAI Zhe, Mr LIU Xiao Guang and Mr YUAN Chun as Executive Directors; and Mr WANG Xiangfei, Mr SIN Yui Man and Mr FAN Ren Da, Anthony as Independent Non-executive Directors.
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