ANNOUNCEMENT PROPOSED CHANGE OF AUDITORS

RNS Number : 6313D

Air China Ld

28 April 2017

 

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AIR CHINA LIMITED

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock  Code: 00753)

ANNOUNCEMENT PROPOSED CHANGE  OF AUDITORS

This announcement is made by Air China Limited  (the "Company")  pursuant to Rule 13.51 (4)  of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

China National Aviation Holding Company, the controlling shareholder of the Company, is a central state-owned enterprise regulated by the State-owned Assets Supervision and Administration Commission of the State Council  of  the  People's  Republic  of  China  (the  "SASAC") .  Pursuant  to the relevant requirements issued by SASAC and the Ministry of Finance of the People's Republic of China, if the service term of an external accounting firm to continuously undertake financial auditing work for a central state-owned enterprise exceeds the prescribed time limit, the enterprise  should  consider changing or per request change such accounting firm.

In this connection, according to the above-mentioned requirements and after due  consideration,  the board of directors of the Company  (the "Board")  has resolved, with the recommendation from the  audit and risk management committee of the Board  (the  "Audit  and  Risk  Management Committee") , to appoint Deloitte Touche Tohmatsu as the Company's international auditor  and  Deloitte Touche Tohmatsu Certified Public Accountants LLP (Special General Partnership) as the Company's domestic auditor and internal control auditor for the year ending 31 December 2017 (the "Proposed Appointment") and such Proposed Appointment is subject to the approval of the shareholders of the Company (the "Shareholders") at the general meeting of the Company. Upon approval at the general meeting, KPMG  and  KPMG  Huazhen  (Special  General  Partnership)  will  cease to be the auditors of the Company.

KPMG, the current international auditor of the Company, and KPMG Huazhen (Special General Partnership) , the current domestic auditor and internal control auditor of the Company, have been providing audit  services  to  the  Company  for  four years and  their  term of  service will  expire  at   the 2016 annual general meeting of the Company. KPMG and KPMG Huazhen (Special  General  Partnership) have confirmed in writing that there were no matters regarding the proposed change of auditors of the Company that need to be brought to the attention of the Shareholders and the Audit and Risk Management Committee. The Board is not aware of any  matter  regarding  the  proposed  change of auditors that should be brought to the attention of the Shareholders. The Board and the Audit and Risk Management Committee confirmed that there were no disagreements or unresolved matters between the Company and KPMG and KPMG Huazhen  (Special  General  Partnership)  regarding  the  proposed  change  of auditors.

The Board would like to take this opportunity to express its sincere gratitude to KPMG and KPMG Huazhen  (Special General Partnership)  for their professional services provided to the Company for     the  past years.

By  Order  of  the Board

                                                                                                              Air China Limited

Rao Xinyu          Tam  Shuit Mui

Joint  Company Secretaries

Beijing,  the  PRC,  27  April 2017

As at the date of this announcement, the directors of the Company are Mr. Cai Jianjiang, Mr. Song Zhiyong, Mr. Cao Jianxiong, Mr. Feng Gang, Mr. John Robert Slosar, Mr. Ian Sai Cheung Shiu, Mr.  Pan Xiaojiang*, Mr. Simon To Chi Keung*, Mr. Stanley Hui Hon-chung* and Mr. Li Dajin*.

*     Independent  non-executive  director  of  the Company

 

END

 

 

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