Meiya Holdings (01116.HK) announced that Xu Lidi resigned as chairman of the board, effective last Friday (3rd).
In his resignation letter, Xu Lidi made a number of allegations against the Company and certain directors and shareholders. As a reason for his resignation, the Company is now seeking legal advice on Xu Lidi's allegations. The Board of Directors tried to contact Xu Lidi, in order to further understand the reasons for his resignation and persuade him to withdraw his resignation, but it has not been successfully contacted so far.
After Xu Lidi's resignation took effect, the nomination Committee had only two members and the Chairman was absent, which failed to meet the composition requirements under Code provision A.5.1 of the Corporate Governance Code set out in Appendix 14 to the listing rules. The company will find a suitable person to fill the vacancy as soon as practicable.