Inno-Tech Holdings Limited

11/08/2018 | Press release | Distributed by Public on 11/08/2018 05:34

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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.

(incorporated in Bermuda with limited liability)

(Stock Code: 8202)

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors") of Inno-Tech Holdings Limited (the "Company") wishes to announce that Mr. Leung Chung Nam ("Mr. Leung") has resigned as an independent non-executive Director, chairman of audit committee, a member of each of remuneration committee and nomination committee of the Board with effect from 8 November 2018 as he would like to devote more time on his career development opportunity (the "Resignation"). Mr. Leung has confirmed that he has no disagreement with the Board and that there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The Board would like to take this opportunity to express its gratitude to Mr. Leung for his contribution to the Company during his tenure of office.

Pursuant to Rules 5.05(1) of the Rules Governing the Listing of Securities on the Growth Enterprise Market of the the Stock Exchange (the "GEM Listing Rules"), the board of directors of a listed issuer must include at least three independent non-executive directors. Further, at least one of the independent non-executive director must have appropriate professional qualifications or accounting or related financial management expertise and the audit committee should comprise of a minimum of three members as required under Rules 5.05(2) and 5.28 of the GEM Listing Rules respectively.

Upon the Resignation with effect from 8 November 2018, the Company failed to comply with the requirements as set out in Rules 5.05(1), 5.05(2), 5.28, 5.34 and 5.36 of the GEM Listing Rules.

* For identification purpose only

The Company will actively look for suitable candidate to fill up the vacancy as soon as practicable and in any event within three months from 8 November 2018 pursuant to Rules 5.06 and 5.33 of the GEM Listing Rules and will make further announcement(s) as and when appropriate.

By order of the Board Inno-Tech Holdings Limited

Wang Yu Executive Director

Hong Kong, 8 November 2018

As at the date of this announcement (taking into account the changes set out herein), the Directors are:

Executive Directors:

Independent non-executive Directors:

Mr. Pu Haiyong

Mr. Tse Yuen Ming

Mr. Wang Yu

Ms. Liu Jianyi

Mr. Lau King Hang

Dr. Chan Yiu Wing

Mr. Zhang Baocai

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the "Latest Company Announcements"page on the GEM website atwww.hkgem.comfor at least 7 days from the date of its posting and on the website of the Company atwww.it-holdings.com.hk.