Appointment of Executive Directors Company to Commence New Business and Explore Further Opportunities February 5, 2010
New Capital International Investment Limited announces the appointment of Mr. Pan Wentang and Mr. Ge Zemin as Executive Directors of the Company with effective today.
Mr. Lawrence H. Wood, Chief Executive Officer of New Capital, said, "We would like to give our warmest welcome to the appointments of Mr. Pan and Mr. Ge to the Board. Their sound experience and expertise on water industry, domestic and international investments and management will benefit the future development of New Capital, bringing synergy to the Company. Leveraging our strategic shareholder with core strengths on urban water and infrastructure sectors, New Capital will explore the businesses on water and the related primary land development. New projects on water business are expected to commence. Riding on the business intelligence and excellent leadership gained in the PRC, we believe Mr. Pan and Mr. Ge are able to lead New Capital into a new era, striving to bring in stable and satisfactory returns to shareholders."
On 14 January 2010, Beijing Capital (Hong Kong) Limited ("Capital (Hong Kong)"), the wholly-owned subsidiary of Beijing Capital Co. Ltd. ("Beijing Capital," Shanghai Stock Exchange Code: 600008), subscribed 16.67% interests in New Capital through a private placement at an issue price of HK$0.27 per share and became the Companyˇ¦s significant strategic shareholder. Beijing Capital is principally engaged in quality water projects investment, water business chain integration and value enhancement, innovative environmental technologies, and urban infrastructure development, integrated services and operations.
The biography of Mr. Pan Wentang
Mr. Pan Wentang, aged 44, is the General Manager and Director of Beijing Capital, the Vice Chairman of CGE-BC Water Investment Co. Ltd. and the Vice Chairman of Shenzhen Water (Group) Co., Ltd. Mr. Pan is an expert in the water industry and currently acts in various societies in water industry, including the President of Environment for China Federation of Industry Chamber of Commerce, the Executive Director of China Urban Water Association and Chinese Hydraulic Engineering Society.
The biography of Mr. Ge Zemin
Mr. Ge Zemin, aged 56, is responsible for exploring overseas business opportunities and supervising the operations of oversea companies. He is a General Manager and a Director of Capital (Hong Kong) and Deputy General Manager of CGE-BC Water Investment Co. Ltd. Mr. Ge has extensive experience in international finance, domestic and international investment and international trade.