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| Wednesday, 9 March 2016, 09:00 HKT/SGT | |
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| Urge All Shareholders to Unite and Re-elect Directors to Prevent Delisting of the Company |
HONG KONG, Mar 9, 2016 - (ACN Newswire) - Four shareholder representatives of Grand T G Gold Holdings Limited ("Grand T G Gold" or the "Company"; stock code: 8299), namely Midway International Holdings Limited ("Midway"), Baker Steel Capital Managers (Cayman) Limited ("Baker Steel"), Genus Natural Resources Fund ("Genus Natural Resources") and Golden Success Investments Limited ("Golden Success"), as the registered holders of approximately 11.7% of the Company's issued share capital, are exercising their rights to officially convene an extraordinary general meeting pursuant to Article 58 of the Articles of Association of the Company (the "Articles") to re-elect the Board of Directors. Details of the extraordinary general meeting are as follows:
Date: 24 March 2016 (Thursday)
Time: 9:30 a.m.
Venue: Boardroom, 1/F, Empire Hotel Wanchai, 33 Hennessy Road, Wanchai, Hong Kong
Resolution: Appointment of Mr. Wong Chi Leung, Dr. Shengfei Gan, Ms. Ma Xiao Na, Mr. Chan Wing Fai, John and Mr. Pietervan Aswegen as the Directors of the Company (Please find details of their biography in appendix)
According to Mr. Lee Sing Leung ("Mr. Lee'), the shareholder representative of Grand T G Gold and the legal representative of Grand T G Gold's subsidiary Taizhou Mining Company Limited ("Taizhou Mining"), the purpose of convening the extraordinary general meeting is to safeguard the interests of all shareholders and to present a viable trading resumption proposal to the Stock Exchange of Hong Kong Limited ("HKSE") in order to prevent the Company from being delisted and to recover the shareholders' losses.
Grand T G Gold had previously held an extraordinary meeting (the "Meeting") on 16 October 2015. However, on 5 January this year, Mr. Lee presented a document which indicated that the objection votes cast at the Meeting by Midway International Holdings Limited ("Midway International") which held 1,293,672,000 Grand T G Gold's shares, was not authorised by Ms. Wang Dong, shareholder and director of Midway International at that time and currently serving in the same capacity. Therefore, the voting by Midway International was alleged to be fraudulent with the deliberate intention to defeat the resolution of the Meeting.
Mr. Lee urges all shareholders of Grand T G Gold to unite and support the re-election of the Board of Directors and to facilitate resumption of trading of Grand T G Grand's shares by voting in favour of the viable trading resumption proposal so as to safeguard the interests of all shareholders from loss.
Appendix: Particulars of the Proposed Directors
1. Mr. Wong Chi Leung ("Mr. Wong")
Mr. Wong, aged 64, graduated from the University of Hong Kong in 1974 and received his B.Sc. degree in Electrical Engineering. He was awarded a Master of Business Administration degree by the Chinese University of Hong Kong in 1976.
Mr. Wong joined the Hongkong and Shanghai Banking Corporation group ("HSBC") in 1976 and worked in various positions and different fields covering forex, commercial banking, costing and accounting, management information system, branch management and reorganization, securities retail, in Hong Kong and Canada, till he left in 2003. He also has experience in financial planning and wealth management. Mr. Wong currently runs his own trading business which imports auto-parts from Mainland China and export to Canada.
2. Dr. Shengfei Gan ("Dr. Gan")
Dr. Gan, aged 54, received his B.Sc. degree in Geology of Chengdu College of Geology of China in l982, M.Sc. degree in Geology of Northeast University of China in 1984, Ph.D. degree in Geology of Beijing University of China in 1989, and MBA degree of De Montfort University (UK) of Sandton South Africa in 1999. He is also a Member of the Geological Society of South Africa, the Mine Managers Association of South Africa.
Dr. Gan has over 30 years of management experience covering various sectors, which includes developing corporate strategies, managing operations in geology, gold mining, mineral resources exploration, business intelligence development with large organizations in China and South Africa including lscor Ltd., Kumba Resources Beijing Office, Anglo American Beijing Office, Stonewall Mining, etc
3. Ms. Ma Xiao Na ("Ms. Ma")
Ms. Ma, aged 41, graduated from the Hua Dong Polytechnic University and received her Bachelor degree with major in international business. She has more than 16 years extensive experience in project financing, joint venture formation, merger and acquisitions both in China and Hong Kong covering businesses in gold mining, other mineral mining, traditional industries and high-technology industries. She is currently the China Regional Director of SSC Mandarin Financial Services Limited which provides corporate finance services to various private and listed corporations and groups. She was involved in the acquisition of the Tongguan Taizhou Mining Company Limited ("Taizhou Mining") by Grand T G Gold Holdings Limited ("GTGG") in 2008 as she was working with the vendor. She was also once the Director of SSC Sino Gold Mining Investment Company Limited, the indirect subsidiary of GTGG which holds the investment in Taizhou Mining. She also has been the Supervisor of Taizhou Mining since 2007.
4. Mr. Chan Wing Fai, John ("Mr. Chan")
Mr. Chan, aged 62, has more than 40 years of extensive experience in banking and financial service industry. Starting his career in 1973, Mr. Chan served in several renowned banks in Hong Kong. His experience covers retail and private banking, bank administration, international trade finance, project management and human resources management. The last position Mr. Chan held in the banking industry was Human Resources Director, Asia Pacific Region with The Bank of Nova Scotia.
Mr. Chan holds a MBA degree in Investment & Finance from The University of Hull of U.K. and is currently an Alternate Director of Mandarin Business Consultants Limited ("MBCL") in Hong Kong. MBCL provides business consultancy service to investors between Hong Kong, China and South Africa.
5. Mr. Pieter van Aswegen ("Mr. van Aswegen")
Mr. van Aswegen, aged 73, holds a B.Sc. degree of the University of Pretoria of South Africa, is a fellow member of the Southern African Institute of Mining and Metallurgy (FSAIMM), a fellow member of the Australasian Institute of Mining and Metallurgy (FAusIMM) and a Chartered Professional (Metallurgy).
Mr. van Aswegen, has 44 years of experience in the gold mining industry in South Africa and internationally. Since June 2006, he founded and has been the sole proprietor of P Met Consulting cc, a metallurgical processing consulting company. From April 1998 through June 2006, Mr. van Aswegen was employed by Gold Fields Ltd. ("Gold Fields"), an international producer of gold, as a senior manager responsible for marketing, development and implementation of bio-oxidation processing of gold ores in Australia, Ghana, Kazakhstan, the PRC and Uzbekistan. One of Mr. van Aswegen's significant contributions during this period was the successful operation of the ore processing plant of Jinfeng, the flagship mining asset of Sino Gold Mining Limited, a gold mining company listed in Hong Kong and Australia, of which Gold Fields is a substantial shareholder and a contracted provider of ore treating technology. Some of the studies for determining the suitability of the workflow for the extremely difficult treatment of the gold mines in the project, and detailed metallurgical test processes were completed under his guidance and supervision. The plant has successfully completed its task in the first quarter of 2007.
Prior to joining Gold Fields, from January 1970 to March 1998 Mr. van Aswegen was employed by Gencor Ltd., an international gold and base metals company located in Johannesburg, South Africa. Gencor was acquired by Gold Fields in April 1998. While being employed by Gencor, he was also involved in the development of various international mining projects and held various positions relating to metallurgy and production, including being a senior manager metallurgy in the International Gold Division with responsibility for operations in West Africa, Brazil and Indonesia from June 1989 to March 1998. Mr. van Aswegen also served on the board of directors of Gold Fields of Uzbekistan. Mr. van Aswegen was an independent non-executive Director of Grand T G Gold Holdings Ltd from June 2008 to October 2008. He currently is a director of China Resources Development Inc. the shares of which are listed on the Nasdaq Stock Exchange
Topic: Press release summary
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2026 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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