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Extraordinary Announcement

Huaxin Cement Co., Ltd.Announcement on Resolutions of the Tenth Meeting of the S

2010-03-2518026次
Stock Codes: 600801, 900933    Stock Abbreviations: Huaxin Cement, Huaxin B Share      Ref: Lin 2010-002
 
Huaxin Cement Co., Ltd.
Announcement on Resolutions of the Tenth Meeting of the Sixth Board of Directors
 
The Board of Directors of the Company and its members guarantee that there is no false or misleading statement or material omission in this announcement and shall be severally and jointly liable for the truthfulness, accuracy and completeness of its contents.
 
The Tenth Meeting of the Sixth Board of Directors of the Company was convened on March 23, 2010 in circular resolution.  All the 9 Directors have reviewed the proposal of this Meeting.  The Company has sent the Meeting Notification to all the Directors on March 16, 2010 by personal service or by fax.  The Meeting was in compliance with the provisions contained in relevant laws, rules and regulations and the Articles of Association of the Company, so it was legitimate and valid.
 
Through reviewing and voting, this Board Meeting adopted the Proposal on Adjusting Allowances for Directors and Supervisors of the Company. (Voting Result: Affirmative 9; Negative: 0; Abstention: 0.  The Proposal is still subject to the approval from the Shareholders’ General Meeting of the Company). 
 
In view of the change in some members of the Board and in accordance with relevant data regarding allowances for Independent Directors of listed companies in cement industry, allowances for Executive Directors, Independent Directors, Non-executive Directors, Executive Supervisors, Non-Executive Supervisors and other Supervisors (staff of the Company)  recommended by the representatives of the large shareholders, are hereby to be adjusted as follows:
 
1. Independent Directors, Non-executive Directors and Non-executive Supervisors receive their allowances from the Company.  Allowances for Executive Directors, Executive Supervisors and other Supervisors (staff of the Company) are embodied in their remunerations, which illustrate their duties in the position of Directors and Supervisors.
 
2. Annual allowance for Independent Directors and Non-executive Directors is RMB 120,000.  Annual allowance for Non-executive Supervisors is RMB 24,000. 
 
3. Propose the Shareholders’ General Meeting of the Company to authorize the Board:
1) Rationally adjusting allowances for Directors and Supervisors according to changes in the market.
2) Handling annual allowances 2009 for Executive Directors, Independent Directors, Non-executive Directors, Executive Supervisors, Non- Executive Supervisors and other Supervisors (staff of the Company) according to Item 1 and Item 2.
 
4. The Proposal shall come into force when approved by the Shareholders’ General Meeting of the Company.
 
It is herewith announced.
 
Huaxin Cement Co., Ltd.
Board of Directors
March 25, 2010
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