SNP.L Regulatory News (SNP)

25 May 2006 07:00

China Petroleum & Chemical Corp25 May 2006 (a joint stock limited company incorporated in the People's Republic of China with limited liability) (Stock Code: 0386) Announcement of the Resolutions of the First meeting of the Third Session of theBoard of Directors (Overseas Regulatory Announcement) China Petroleum & Chemical Corporation and all members of its board of directorswarrant the authenticity, accuracy and completeness of the information containedin this announcement, and jointly and severally accept full responsibility forany misrepresentation, misleading statements or material omissions contained inthis announcement. China Petroleum & Chemical Corporation ("Sinopec Corp") held the first meetingof its Third Session of Board of Directors on the afternoon of 24 May 2006 atSinopec Corp's head offices. In total 11 directors of Sinopec Corp attended themeeting, thus fulfilling the quorum requirement under Sinopec Corp's articles ofassociation. The meeting was convened and chaired by Mr. Chen Tonghai. After due consideration, the directors attending this meeting (including theindependent directors) passed the following resolutions: 1. THAT Mr. Chen Tonghai be appointed Chairman of the Board ofDirectors, and that Mr. Zhou Yuan be appointed Vice-Chairman. 2. THAT the following persons shall be appointed as members of thestrategic and development, audit, and remuneration and performance evaluationcommittees: 1) The strategic and development committee shall be chaired by Mr.Wang Tianpu, the vice-chairmen shall be Mr. Li Deshui, and Messrs. ZhangJianhua, Wang Zhigang, Yao Zhongmin and Fan Yifei shall be committee members; 2)The audit committee shall be chaired by Mr. Liu Zhongli, and Mr. Shi Wanpengand Mr. Li Deshui shall be committee members; and 3)The remuneration and performance evaluation committee shall be chaired by Mr.Shi Wanpeng and Messrs. Dai Houliang, Liu Zhongli and Li Deshui shall becommittee members. 3. THAT, upon the recommendation of the Chairman, Mr. Wang Tianpu beappointed President. 4. THAT, upon the recommendation of the President, Messrs. ZhangJianhua, Wang Zhigang, Cai Xiyou, and Dai Houliang be appointed as SeniorVice-Presidents; Mr. Dai Houliang be also appointed as the Financial Controller,and Messrs. Zhang Kehua and Zhang Haichao be appointed as Vice-Presidents(please refer to the appendix to this announcement for further information onMessrs. Cai Xiyou, Zhang Kehua, and Zhang Haichao. For further information onthe other appointees, please refer to the 2005 annual general meetingannouncement published by Sinopec Corp. on 6 April 2006 in the "China SecuritiesJournal", "Shanghai Securities News", and "Securities Times"). 5. THAT, upon the recommendation of the Chairman, Mr. Chen Ge beappointed as Secretary to the Board of Directors (please refer to the appendixto this announcement for further information on Mr. Chen Ge). 6. THAT, upon the recommendation of the Directors, the Board appointsMessrs. Wang Tianpu and Chen Ge as Authorised Representatives to The StockExchange of Hong Kong Limited and the Authorised Representatives under the HongKong Companies Ordinance; and Mr. Huang Wensheng as Securities Representative tothe Shanghai Stock Exchange, AND THAT the Secretary to the Board of Directors beauthorised to sign any documents necessary to implement this. For and on behalf of the Board of Directors China Petroleum & Chemical Corporation Chen Ge Secretary to the Board of Directors Beijing, PRC, 24 May 2006 As at the date of this announcement, the executive directors of Sinopec Corp.are Messrs. Wang Tianpu, Zhang Jianhua, Wang Zhigang, Dai Houliang; thenon-executive directors are Messrs. Chen Tonghai, Zhouyuan, Fan Yifei and YaoZhongmin; the independent non-executive directors are Messrs. Shi Wanpeng, LiuZhongli and Li Deshui. Enclosure: Personal details Cai Xiyou, 44, Senior Vice President. Mr. Cai graduated from Fushun PetroleumInstitute in August 1982 majoring in petroleum refining automation, and obtaineda MBA degree from China Industry and Science Dalian Training center in October1990. He is a senior economist. From June 1995 to May 1996, he was the DeputyGeneral Manager of Jinzhou Petrochemical Company of the former Sinopec GroupCompany. From May 1996 to December 1998, he was the Deputy General Manager ofDalian Western Pacific Petrochemical Co., Ltd (WEPEC). From December 1998 toJune 2001, he was the Deputy General Manager of Sinopec Sales Company, and fromJune 2001 to December 2001, he was the Executive Deputy Manager of Sinopec SalesCompany. He has been a Director of China International United PetrochemicalCompany Limited (UNIPEC) since December 2001 and has been the General Manager ofUNIPEC from December 2001 to December 2005. He was Vice President of SinopecCorp. from April 2003 to November 2005. Mr. Cai has been Senior Vice Presidentof Sinopec Corp. since November 2005. Zhang Kehua, 52, Vice President of Sinopec Corp. Mr Zhang graduated fromShanghai Chemical Engineering University majoring in Chemical and MechanicalEngineering in January 1980. He is a senior engineer and he had his masterdegree from University of Petroleum majoring in Management Science and Projectsin December 2000. He was the Deputy Manager of No 3 Construction Company ofSinopec Corp from February 1994 to April 1996. From April 1996 to December1998, he was the Vice Director (Deputy Manager of Project Construction Company)of the Project Construction Department of China Petrochemical Corporation. Hewas the Vice Director of the Project Construction Department of Sinopec GroupCompany from December 1998 to December 2001 and was the Vice Director of theProject Construction Administration Department of Sinopec Group Company fromDecember 2001 to September 2002. Mr. Zhang was the Director of the ProjectConstruction Administration Department of Sinopec group from September 2002 toOctober 2004. Mr. Zhang has served as the Assistant Manager and director ofProject Construction Administration Department of Sinopec group. Zhang Haichao, 48, Vice President of Sinopec Corp. Mr. Zhang graduated fromZhoushan Commercial and Technical School in December 1979, specialising in oilstorage and transportation. He also graduated from Jilin Petrochemical Institutein July 1985 specialising in recycling of lubricating oil. From January 2001 toJune 2002, he participated in the business administration programme at MacauScience & Technology University. He is an economist. He served as a DeputyGeneral Manager of Zhejiang Petroleum Company from March 1998 to September 1999.He served as the General Manager of Zhejiang Petroleum Company from September1999 to February 2000, and has served as the Manager of Sinopec ZhejiangPetroleum Company from February 2000 to September 2005. He has been Chairman ofSinopec-BP Zhejiang Petroleum Co., Ltd. since April 2004. He was Secretary ofthe CPC Party Committee and Vice Chairman and Deputy General Manager of SinopecOil Products Sales Company from October 2004 to November 2005. He served as anemployee representative supervisor of the second session of the SupervisoryCommittee of Sinopec Corp. from April 2003 to November 2005. He has beenSecretary of the CPC Party Committee, Chairman and General Manager of SinopecOil Products Sales Company since November 2005. Mr. Zhang has been VicePresident of Sinopec Corp. since November 2005. Chen Ge, 43, Secretary to the Board of Directors of Sinopec Corp. Mr. Chengraduated from Daqing Petroleum Institute in July 1983 majoring in petroleumrefining, and then obtained an MBA degree from Dalian University of Science andTechnology in July 1996. He is a senior economist. From July 1983 to February2000, he worked in Beijing Yanshan Petrochemical Company. From February 2000 toDecember 2001, he was Deputy Director-General of Board Secretariat of SinopecCorp. Mr. Chen has been the Director General of the Board Secretariat sinceDecember 2001. Mr. Chen has been the Secretary to the Board of Directors ofSinopec Corp. since April 2003. This information is provided by RNS The company news service from the London Stock Exchange