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NewOcean Energy reshuffles lineup of Independent Non-executive Directors

21 Dec 2021

The board of Independent Non-executive Directors at Hong Kong-listed NewOcean Energy Holdings Limited has been reshuffled with effect from 17 December 2021.

Appointment of Independent Non-executive Directors

The firm welcomed Mr Li Xiong jie (Mr. Li), Mr. Huang Yao Peng (Mr. Huang) and Mr. Cai Zhi Hui (Mr. Cai) as independent non-executive directors of the company.

Mr. Li

Li Xiong jie, aged 51, was appointed as an independent non-executive director, chairman of audit committee, chairman of remuneration committee and member of nomination committee of the Company on 17 December 2021. Mr. Li graduated from University of Guangzhou in year 1991 with a bachelor’s degree and pursued a career in accountancy and auditing in Mainland China. Mr. Li is a fellow member of Chinese Institute of Certified Public Accountants and has over 20 years working experience in certified public accountants firms in Mainland China.

Mr. Huang

Huang Yao Peng, aged 67 was appointed as an independent non-executive director, member of audit committee, member of remuneration committee and member of nomination committee of the Company on 17 December 2021. Mr. Huang has been engaged in trade and commerce in Mainland China for over 35 years. For the last 20 years, Mr. Huang’s business activities mainly involve energy projects and trading with major oil corporations in the Mainland China, and has accumulated wide experience in both these fields.

Mr. Cai

Cai Zhi Hui, aged 61 was appointed as an independent non-executive director, member of audit committee, member of remuneration committee and member of nomination committee of the Company on 17 December 2021. Mr. Cai graduated from University of Guangzhou with a degree in building engineering. For the last 30 years Mr. Cai has been involved in various property development projects in Mainland China.

Resignation of Independent Non-executive Directors

The effect from 17 December 2021, Mr. Cheung Kwan Hung, Anthony, Mr. Chan Yuk Wai, Benedict, and Dr. Xu Mingshe have tendered their resignations as independent non-executive directors.

With effective form 17 December 2021, the composition of the Board, the Audit Committee, the Nomination Committee and Remuneration Committee of the Board is as follows:

Recently, NewOcean Energy Holdings, which also has bunkering operations at Singapore, is in the midst of debt restructuring operations under a “soft-touch” basis.

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Photo credit: Drew Beamer
Published: 21 December, 2021

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