Noble House Appoints Mr. Hu Yishi as Executive Chairman and Executive Director

Aug 27, 2015 20:27 JST

Source: Northern New Energy Holdings Limited

HONG KONG, Aug 27, 2015 - (ACN Newswire) - Noble House (China) Holdings Limited ("Noble House" or the "Group;" stock code: 8246), is pleased to announce that the Group has appointed Mr. Hu Yishi as its Executive Chairman and Executive Director, effective from 27 August 2015. Mr. Hu has accumulated extensive experience in China affairs, business development and business expansion, he is also experienced in overall strategic planning, management and operation of companies. Upon joining the Group, Mr. Hu is to spearhead the management of the Company to create new ideas, diversify into new businesses and achieve new milestones for the Group's future development, thus laying a solid foundation for the long term growth of the Group.

Smart Lane Global Limited, a wholly-owned company of Mr. Hu Yishi, completed the purchase of 56,000,000 shares of the Group, representing approximately 13.05% of the issued share capital of the Group, from Blossom Merit Limited (a substantial shareholder of the Group) at HK$4.92 per Sales share, at the aggregate consideration of HK$275,520,000 on 27 August 2015. The acquisition reflects Mr. Hu's strong confidence in the Group's prospects.

At the extraordinary general meeting held on 24 August 2015, the shareholders have approved the special resolution in relation to the change of the English name of the Company from "Noble House (China) Holdings Limited" to "Northern New Energy Holdings Limited" and the adoption of "Northern New Energy Holdings Limited" as the dual foreign name of the Company to replace "Noble House (China) Holdings Limited ". The Group believes that the new name better reflects its future business development.

Ms. Mindy Lin, Chairman of Noble House, said, "The Group has announced earlier the establishment of a JV Company to expand into new energy business development, and the change of the Company name to "Northern New Energy Holdings Limited" providing a new corporate image which more accurately reflects its strategic entry into the new energy business. At the same time, the Group has recruited management talent who possess extensive industry experience and expertise. In addition to the previous appointment of Mr. Luo Xiang as the General Manager of the Group's Sino-foreign equity joint venture enterprise, I am honoured to introduce Mr. Hu Yishi as a new member of the Group. With a proven track record in business expansion, operation and planning, Mr. Hu will lead the Group into a new era of development and boost the business to new heights. Mr. Hu will be responsible for the overall strategic planning of the Group's China affairs, business development and expansion so as to broaden its scope of business, while I will continue to strive for the Group's overall development.

Mr. Hu Yishi, commented on his appointment, "I am honoured to be appointed as the Executive Chairman of Noble House. A series of policies launched by the Chinese government aims to promote environmental protection, energy-saving and emissions reduction, as well as encourage the replacement of pollution sources with clean energy. Thus the demand for new energy is set to dramatically rise and generate immense opportunities for the entire industry. I look forward to cooperating with the top management in the Group to identify new projects with great potential, diversify business development and income streams as well as broaden the Group's asset base and therefore have strong confidence in the Group's long term prospects."

Contact:

Strategic Financial Relations Limited
Heidi So        +852 2864 4826   heidi.so@sprg.com.hk
Keris Leung     +852 2864 4863   keris.leung@sprg.com.hk
Samantha Yeung  +852 2114 4916   samantha.yeung@sprg.com.hk

Source: Northern New Energy Holdings Limited
Sectors: Daily Finance