Resignation of Accountant and

RNS Number : 7105L

Air China Ld

15 January 2009

 



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.

AIR CHINA LIMITED

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

(Stock Code: 753)

Resignation of Qualified Accountant and Appointment of Director

The board of directors (the 'Board') of Air China Limited (the 'Company') announces that Mr. David Tze-kin Ng ('Mr. Ng') has resigned as a qualified accountant of the Company with effect from 1 January 2009 and that Mr. Cao Jianxiong ('Mr. Cao') has been appointed as a non-executive director of the Company subject to the approval of the shareholders of the Company.

Resignation of Qualified Accountant

In view that The Stock Exchange of Hong Kong Limited has, with effect from 1 January 2009, repealed Rule 3.24 of Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited which requires every issuer to employ a qualified accountant on a full-time basis, the board of directors of Air China Limited notes that it no longer needs to employ a qualified accountant for the purpose of complying with Rule 3.24. Accordingly, the Board announces that Mr. Ng resigned as qualified accountant of the Company with effect from 1 January 2009. 

Mr. Ng has confirmed that he has no disagreement with the Board and there are no other matters that need to be brought to the attention of the shareholders of the Company in relation to his resignation. The Board would like to express its sincere gratitude to Mr. Ng for his contributions to the Company during his tenure of office. 

Appointment of Director

The Company is pleased to announce that Mr. Cao has been appointed as a non-executive director of the Company subject to the approval of the shareholders of the Company.

 Mr. Cao Jianxiong (曹建雄), aged 49, graduated from the Civil Aviation Management Institute with a major in labour economics. Mr.Cao also received a master degree in global economics from Eastern China Normal University's Department of International Finance. Mr. Cao holds the title of Senior Economist. He started his career in China's civil aviation industry in 1982 and was appointed as the vice president and chief financial officer of China Eastern Airlines Corporation Limited in December 1996. In September 1999, he was appointed as the vice president of CEA Group. From October 2002 to December 2008, he served as vice president and party committee member of China Eastern Air Holding Company and was also the party secretary of China Eastern Air Northwest Company from December 2002 to September 2004. From October 2006 to December 2008, he served as the president and the deputy party secretary of China Eastern Airlines Corporation. In December 2008, Mr. Cao was appointed as the vice president and party committee member of China National Aviation Holding Company.

Mr. Cao will enter into a service contract with the Company. The term of his office is not more than three years which shall commence upon the approval to the appointment by the shareholders of the Company and end upon the third session of the Board being elected. Mr. Cao will not be receiving any compensation as a director in the Company.

Save as disclosed above, Mr. Cao has not held any other directorships in public companies the securities of which are listed in any securities market in Hong Kong or overseas or taken up a post in any affiliated companies of the Company in the past three years. Save as disclosed above, Mr. Cao does not have any relationship with any other directors, senior management, substantial shareholders or controlling shareholder of the Company. Mr. Cao does not have any equity interest in the Company within the meaning of Part XV of the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong). There is no information to be disclosed on items from (h) to (v) in Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. No other matter needs to be brought to the attention of the shareholders of the Company in respect of the Company and its directors and supervisors.

By order of the Board

Air China Limited

Huang Bin     Tam Shuit Mui

Joint Company Secretaries

Beijing, PRC, 15 January 2009

As at the date of this announcement, the Directors of the Company are Mr. Kong Dong, Ms. Wang Yinxiang, Mr. Wang Shixiang, Mr. Christopher Dale Pratt, Mr. Chen Nan Lok, Philip, Mr. Cai Jianjiang, Mr. Fan Cheng, Mr. Hu Hung Lick, Henry*, Mr. Wu Zhipan*, Mr. Zhang Ke* and Mr. Jia Kang*.

*Independent non-executive Directors of the Company

 

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