Cathay International Holdings Ld Lansen Change of Director
January 29 2018 - 2:18AM
RNS Non-Regulatory
TIDMCTI
Cathay International Holdings Ld
29 January 2018
Final version via RNS Reach
Cathay International Holdings Limited
("Cathay" or the "Company")
Cathay's subsidiary Lansen
Change of executive director, member of executive committee
and
group chief executive officer
Hong Kong, 29 January 2018 - Cathay International Holdings Ltd.
(LSE: CTI.L), an operator and investor in the growing healthcare
sector in the People's Republic of China (the "PRC"), announces
that Lansen Pharmaceutical Holdings Ltd ("Lansen") (HKEX: 503), the
Company's 50.56% owned subsidiary, has announced today that Mr. Liu
Bangmin ("Mr. Liu") has resigned as an executive director of
Lansen, a member of the executive committee and the chief executive
officer of the Lansen group with effect on 31 January 2018 due to
his decision to devote more time to his family.
Mr. Liu has confirmed that he has no disagreement with the board
of Lansen and there is no matter that needs to be brought to the
attention of the shareholders of Lansen in relation to his
resignation.
Lansen at the same time announces that it is identifying
suitable new Chief Executive Officer and will release an
announcement after the appointment is made. The board of Lansen
will propose a director candidate for approval by its shareholders
in a general meeting in due course.
The full text of the Lansen Announcement can be found at the
Announcements & Notices section of Lansen's homepage at
http://holding.lansen.com.cn/en/newslist.aspx?NodeCode=10002000700050005.
-ENDS-
For further enquiries, please contact:
Cathay International Holdings
Limited Tel: +852 2828
Eric Siu (Finance Director) 9289
Patrick Sung (Director and
Controller)
Consilium Strategic Communications
Mary-Jane Elliott / Matthew Tel: +44 (0) 203
Neal / Lindsey Neville 709 5700
About Cathay
Cathay International Holdings Limited (LSE: CTI.L) is a main
market listed investment holding company and an operator and
investor in the growing healthcare sector in the People's Republic
of China (the "PRC"). The Company and its subsidiaries
(collectively the "Group") aim to leverage on growth opportunities
in the strong and growing domes c demand for high quality
healthcare products in the PRC and build its portfolio companies
into market sector leaders with competitive edge. Cathay has
already demonstrated a strong track record of identifying high
growth potential investment opportunities in this area including:
Lansen, a leading specialty pharmaceutical company focused on
rheumatology and dermatology in the PRC; Haizi, a company engaged
in the manufacture, marketing and sale of inositol and its
by-product, di-calcium phosphate; Natural Dailyhealth, a company
engaged in production and sales of plant extracts for use as key
active ingredients in healthcare products; and Botai, a company
engaged in collagen products.
The Group employs approximately 2,000 people across the PRC,
including over 30 specialist corporate and business development
staff based at the holding company's offices in Hong Kong and
Shenzhen. Cathay also has a hotel investment. For more information
please visit the Company's website:
http://www.cathay-intl.com.hk.
About Lansen
Lansen, whose shares are listed on the mainboard of the Hong
Kong Stock Exchange, is a 50.56% owned subsidiary of Cathay. Lansen
is engaged in the manufacture, distribution and development of
specialty prescription drugs for treatment of autoimmune disorder
in rheumatology and dermatology. Lansen is in the leading market
position in disease modifying anti-rheumatic drugs ("DMARDs") for
treatment of rheumatoid arthritis ("RA") in the PRC. Lansen has
established an extensive distribution network, covering more than
1,000 hospitals in four municipalities, 25 provinces and cities in
the PRC. For more information please visit the Lansen's website:
http://www.lansen.com.cn/en/index.aspx.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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