Board Review
30 Juin 2004 - 4:27PM
UK Regulatory
RNS Number:3146A
Arko Holdings PLC
30 June 2004
FOR IMMEDIATE RELEASE 30 June 2004
ANNOUNCEMENT TO THE LONDON STOCK EXCHANGE
Arko Holdings plc ("the Company" or "Arko")
Board Review of Company Management and Strategy
Arko Holdings plc announces that, as indicated in previous announcements, the
Board of Arko has met to review the Company's strategy and management in the
light of the conviction and subsequent resignation from the Board of Mr. Chin
Kam Chiu, the former Chairman of the Company.
The key decisions which the Board has reached, following this review, are as
follows:
* Mr. Qin Shun Chao, whose appointment to the Arko Board was announced on 23
April 2004, will act as Chairman of the Company for the time being. Mr. Qin
is Mr. K.C. Chin's father.
* The Arko Board will initiate the recruitment of an additional senior
executive to join the Arko Board and work alongside the acting Chief
Executive, Ms Angela Leung. It is intended that the new executive will have
primary responsibility for the development and execution of Company
strategy and investor relations, while Ms Leung will retain responsibility
for management of the Company's current businesses at the operational
level, assisted by Mr Qin Bing Qiang, executive director, who is based in
China.
* At present, in terms of its current portfolio of businesses, the Company
will increase its focus on its logistics business, namely its container
terminal and shipping operations. As regards future expansion, the Company
will concentrate its management and financial resources principally on the
development of the granite quarry in Fujian Province, China, the
exploitation rights to which are owned by its 70% owned subsidiary, Fujian
Sanko Mining Limited.
A further announcement will be issued once the appointment referred to above has
been made.
Enquiries:
Angela Leung - Arko Holdings plc
13th Floor, Sun Hung Kai Centre, 30 Harbour Road, Wanchai, Hong Kong
Tel: 00 852 2219 9999 Email: angelal@arkoholdings.com
Robert Lo - Nabarro Wells & Co. Limited
Tel: 020 7710 7407 Email: robertlo@nabarro-wells.co.uk
Nigel Atkinson- Nabarro Wells & Co. Limited
Tel: 020 7710 7408 Email: nigelatkinson@nabarro-wells.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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