Hong Kong: Kingway Brewery Holdings Limited announced changes in directorship
The board of directors of Kingway Brewery Holdings Limited announced in its press release, January 26, that Mr. Rafael GIL-TIENDA has resigned as an independent non-executive director and a member of each of the audit committee and the remuneration committee of the Company with effect from 24 January 2007; and Mr. FONG Wo, Felix, JP, has been appointed as an independent non-executive director and a member of each of the audit committee and the remuneration committee of the Company with effect from 24 January 2007.
Mr. Rafael GIL-TIENDA has confirmed that his resignation is for personal reasons and that there is no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.
The Board would like to express its sincere gratitude and appreciation to Mr. Gil-Tienda for his valuable contributions to the Company during his tenure of service. Mr. FONG Wo, Felix, JP, aged 56, is a consultant and founding partner of Arculli Fong & Ng. Mr. Fong received his engineering degree in Canada in 1974 and his law degree from Osgoode Hall Law School in Toronto in 1978. He has practiced law for over twentyfive years, eight of which in Toronto.
Mr. Fong is a member of the law societies of Hong Kong, Upper Canada and England, and honourary legal counsels of Hong Kong Institute of Professional Photographers Ltd. and The Chinese Manufactures’ Association of Hong Kong. In 1992, Mr. Fong was appointed by the Ministry of Justice of China as one of the China-appointed Attesting Officers in Hong Kong. Mr. Fong undertook a number of community and social roles, such as the past Chairman of the Chinese Canadian Association of Hong Kong, the Chairman of the Liquor Licensing Board, a member of the Betting and Lotteries Commission, a member of the Hong Kong Film Development Committee, a member of the Advisory Council on Food and Environmental Hygiene, and a member of the Hong Kong Town Planning Board. He is also the founding member of Democratic Alliance for the Betterment and Progress of Hong Kong and a member of its Standing and Central Committee, a director of the Hong Kong Basic Law Institute, a member of Guangdong Provincial Committee of Chinese People’s Political Consultative Conference and a director of China Overseas Friendship Association.
In the area of education, Mr. Fong is a founding member and the first director of Canadian International School of Hong Kong and a visiting professor of the School of Law of Sun Yat-sen University in China. Currently, Mr. Fong is an independent non-executive director of SPG Land (Holdings) Limited and a non-executive director of Hantec Investment Holdings Limited, both companies are listed on the main board of The Stock Exchange of Hong Kong Limited. Save as disclosed above, Mr. Fong has not been a director in any other listed company during the past three years. Mr. Fong does not have any relationship with any director, senior management, substantial or controlling shareholders of the Company. As at the date of this announcement, Mr. Fong does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance. There is no service contract signed between the Company and Mr. Fong. He was not appointed for a specific term but is subject to retirement by rotation and re-election at least once every three years in accordance with the Byelaws of the Company. Mr. Fong will hold office until the conclusion of the first general meeting of the Company after his appointment and will then be eligible for re-election.
Mr. Fong is entitled to a director’s fee which is HK$170,000 per annum, comprising HK$120,000 for his directorship and an additional HK$30,000 and HK$20,000 for membership in the audit committee and remuneration committee respectively. Mr. Fong’s director’s fee is based on the Company’s remuneration policy adopted for independent nonexecutive directors. Save as disclosed above, there are no other matters relating to the above appointment that need to be brought to the attention of the shareholders of the Company nor any other information to be disclosed pursuant to the requirements of Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The Board would like to express their warmest welcome to Mr. Fong to join the Board.
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