Sun Art Retail Group Limited - TodayIR.com
Sun Art Retail Group Limited - TodayIR.com
Sun Art Retail Group Limited - TodayIR.com
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REPORT OF DIRECTORS<br />
Independent non-executive directors:<br />
Karen Yifen CHANG (Appointed on 27 June 2011)<br />
Desmond MURRAY (Appointed on 27 June 2011)<br />
HE Yi (Appointed on 27 June 2011)<br />
Directors resigned during the financial year ended 31 December 2012<br />
Christophe Maurice Paule Marie Joseph DUBRULLE (Appointed on 8 February 2001 and<br />
resigned on 12 September 2012) (Bruno Robert MERCIER, Philippe David BAROUKH,<br />
and Xavier Marie Alain DELOM de MEZERAC as his alternates, all appointed on 13 May 2011 and<br />
resigned on 12 September 2012)<br />
Biographies of the Directors as at the date of this annual report are set forth in the section headed “Profiles<br />
of Directors and Senior Management” of this report.<br />
In accordance with the <strong>Art</strong>icles of Association, Mr Bruno Robert MERCIER, Mr Benoit, Claude, Francois,<br />
Marie, Joseph LECLERCQ, Mr Philippe David BAROUKH and Mr Xavier Marie Alain DELOM de MEZERAC<br />
will retire as Directors and, being eligible, have offered themselves to be re-elected and re-appointed at<br />
the forth<strong>com</strong>ing AGM.<br />
The Company has received annual confirmation of independence from each of the existing independent<br />
non-executive Directors in accordance with Rule 3.13 of the Listing Rules. The Company considers that<br />
all of the independent non-executive Directors are independent in accordance with the Listing Rules.<br />
Directors Service Contracts<br />
Each of the independent non-executive Directors of the Company is appointed for a specific term of three<br />
years and shall be subject to retirement by rotation at least once every three years.<br />
The Company will enter into a service agreement with each of executive and non-executive Directors with<br />
a term within three years from the relevant effective date.<br />
There was no service contract entered by the Company and any Directors which is not determinable<br />
by the Company within one year without payment of <strong>com</strong>pensation, other than statutory <strong>com</strong>pensation.<br />
Director’s Interests in Contracts<br />
Other than those transactions disclosed in Note 26(c) to the consolidated financial statements and in<br />
the section headed “Connected Transactions” below, there was no other significant contract to which<br />
the Company or any member of the <strong>Group</strong> was a party and in which the Directors possessed direct or<br />
indirect substantial interests, subsisted during or at the end of the year.<br />
<strong>Sun</strong> <strong>Art</strong> <strong>Retail</strong> <strong>Group</strong> <strong>Limited</strong><br />
Annual Report 2012<br />
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