China Newcity (01321) announced that an independent director has been established in accordance with Article 2.1 and Article 2.8 of the acquisition rules...
According to the announcement by China Newcity (01321), an independent board of directors has been established in accordance with Article 2.1 and Article 2.8 of the acquisition rules. This includes non-executive directors, Xu Cheng, Lin Youyao, and Yuan Yuan, who have no direct or indirect interest in the share repurchase, to provide advice and recommendations to shareholders without any interest.
In addition, Lihigh Corporate Financing Limited, a company licensed under Chapter 571 of the Securities and Futures Ordinance of Hong Kong, conducting regulated activities of type 6 (providing advice on corporate financing), has been appointed as an independent financial advisor to provide advice to the independent board of directors on the share repurchase. The appointment has been approved by the independent board of directors in accordance with Article 2.1 of the acquisition rules.
