This announcement is made by Hong Kong Exchanges and Clearing Limited (“HKEx”) pursuant to Rule 13.51B(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
HKEx received a notification from Mr Lee Kwan Ho, Vincent Marshall (“Mr Lee”), an Independent Non-executive Director of HKEx, today of his removal as a defendant in the proceedings under the High Court Action No.1800 of 2007 pursuant to a writ of summons filed and issued in the High Court in Hong Kong on 23 August 2007 (“Writ”) upon application of Ocean Grand Holdings Limited (Provisional Liquidators appointed) (“OGH”) and three of its wholly-owned subsidiaries (collectively, “Plaintiffs”) claiming against 15 defendants including each and every director of OGH, including Mr Lee who was a former independent non-executive director (“Defendants”), for damages or equitable compensation in respect of all loss and damage suffered by the Plaintiffs in the sum of HK$111,150,074 plus interest and costs as a result of breaches of statutory, regulatory, fiduciary, contractual, tortuous or other duties; breaches of contracts of employment and duty of fidelity; breaches of trust; misstatements or misleading statements by, and negligence of, the Defendants in the course of or in connection with a contract dated 1 November 2005. The solicitors on behalf of the Plaintiffs filed a re-amended writ of summons on 5 June 2009 to remove Mr Lee from the list of Defendants.
Mr Lee states to HKEx that the Writ has not been served on him and he has not been called upon to defend the proceedings. After the aforesaid removal, he is not a party to any legal proceedings.
By Order of the BoardHong Kong Exchanges and Clearing Limited
Joseph Mau
Company Secretary
Hong Kong, 23 June 2009
As at the date of this announcement, the Board comprises 12 Independent Non-executive Directors, namely Mr ARCULLI, Ronald Joseph (Chairman), Mrs CHA May-Lung, Laura, Mr CHAN Tze Ching, Ignatius, Dr CHENG Mo Chi, Moses, Dr CHEUNG Kin Tung, Marvin, Mr HUI Chiu Chung, Stephen, Dr KWOK Chi Piu, Bill, Mr LEE Kwan Ho, Vincent Marshall, Mr LEE Tze Hau, Michael, Mr STRICKLAND, John Estmond, Mr WILLIAMSON, John Mackay McCulloch and Mr WONG Sai Hung, Oscar, and one Executive Director, Mr CHOW Man Yiu, Paul, who is also the Chief Executive.
