30 Oct 2015 11:32
For immediate release 30 October 2015
Asian Citrus Holdings Limited
("Asian Citrus" or the "Company")
Announcement
Resignation of the Honorary Chairman of the Company
With reference to the announcement of the Company of 3 March 2014 (the "Announcement") in respect of, inter alia, the appointment of Mr. Tong Wang Chow ("Mr. Tong") as the Honorary Chairman of the Company and as the consultant pursuant to the Business Consultant Contract, the Company hereby announces that Mr. Tong has today served written notice to the Board of his resignation due to health reasons. His role as the Honorary Chairman of the Company will cease with immediate effect. Capitalized terms used herein shall have the same meaning as ascribed to them in the Announcement unless stated otherwise.
In addition, the Company and Mr. Tong mutually agreed to early termination of the Business Consultant Contract entered into between himself and the Company, on the same day, with no further obligation on the part of the Company to pay to Mr. Tong the remaining consultancy fees due after 30 October 2015. The Company will pay Mr. Tong the sum of HK$162,500 being Mr. Tong's consultancy fee for the month of October 2015.
Mr. Tong confirmed that he has no disagreement with the Board and that he is not aware of any matter that needs to be brought to the attention of the Shareholders or the Hong Kong Stock Exchange in relation to his resignation.
The Board would like to take this opportunity to thank Mr. Tong for his invaluable contributions to the Company.
For further enquiries please contact:
Asian Citrus | +852 2559 0323 |
Mark Ng, Executive Director and Chief Financial Officer |
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Cantor Fitzgerald Europe (NOMAD and Broker) | +44 (0) 20 7894 7000 |
Rick Thompson / David Foreman (Corporate Finance) |
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Weber Shandwick Financial |
+44 (0) 20 7067 0000 |
Nick Oborne, Stephanie Badjonat, Tom Jenkins |
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