IRC 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 contents of this announcement.
(Incorporated in Hong Kong with limited liability)
(Stock code: 1029)Monday, 11 January 2016: This announcement is made by IRC Limited (the "Company") in relation to an update on information of a director of the Company.
The Board has received a notification from Mr Cai Sui Xin ("Mr Cai"), a Non-Executive Director of the Company, that (a) Mr Cai is an executive chairman and executive director of Abterra Limited ("Abterra"), a company listed on Singapore Exchange ("SGX"); and (b) Mr Cai was publicly reprimanded by SGX on 7 January 2016 for breaching the listing rules of SGX (the "Breach") as he (i) failed to act in the interest of shareholders of Abterra in relation to an acquisition (the "Acquisition") of certain interest in a target company; (ii) caused Abterra to fail to immediately announce a reduction of Abterra's interest in its associated company after a restructuring agreement had been made; and (iii) caused Abterra to fail to immediately announce material changes in the terms of the sale and purchase agreement for the Acquisition. As a result of the Breach, all companies listed on SGX were advised to consult SGX before any of them appoints Mr Cai as a director or member of its management. SGX had also directed Abterra to appoint a compliance adviser to advise Abterra on its continuing listing obligations and had referred the Breach to the relevant authorities in Singapore.
By Order of the Board
IRC Limited G. Jay HAMBROExecutive Chairman
Hong Kong, People's Republic of China Monday, 11 January 2016
As at the date of this announcement, the Executive Directors of the Company are Mr George Jay Hambro and Mr Yury Makarov. The Non-Executive Directors are Mr Cai Sui Xin, Mr Liu Qingchun, Mr Simon Murray, CBE, Chevalier de la Légion d'Honneur and Mr Raymond Kar Tung Woo. The Independent Non-Executive Directors are Mr Daniel Bradshaw, Mr Chuang- Fei Li and Mr Jonathan Martin Smith.
IRC Limited6H, 9 Queen's Road Central Hong Kong
Tel: +852 2772 0007
Email: ir@ircgroup.com.hk
Website: www.ircgroup.com.hk
For further information please visit www.ircgroup.com.hk or contact:
Manager - Communications & Investor Relations Telephone: +852 2772 0007
Mobile: +852 9688 8293
Email: sc@ircgroup.com.hk
IRC Ltd. issued this content on 2016-01-11 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-11 10:22:14 UTC
Original Document: http://www.ircgroup.com.hk/attachment/2016011117470100002408797_en.pdf
