CHIHO ENV (00976.HK): Supplemental Announcement on Removal of Executive Director; Former Director Files HK$3.07 Million Claim at Labour Tribunal
- Mr. Qin sent emails to the Board on 1 and 11 June 2026 setting out his disagreements, with allegations concerning the insufficiency of notice for the Board meeting to appoint three new independent non-executive directors, non-payment of his outstanding entitlements under his service contract (a breach of the service contract and the Employment Ordinance (Cap. 57)), his removal being contrary to the articles of association or not in the best interests of all shareholders, and the Board's failure to consider the significant potential legal and financial impact of his removal.
- Mr. Qin subsequently served a claim for remedies pursuant to Part VIA of the Employment Ordinance (Cap. 57 of the Laws of Hong Kong) dated 9 June 2026 on the Company.
- The Board considers Mr. Qin's allegations to be unfounded and unsubstantiated; the Company has engaged legal counsel to advise on the steps to be taken in connection with his claim.
The announcement stated that, as disclosed in the prior announcement, the Board considered that the removal would not have any material effect on the operations of the Group and Mr. Qin's duties and responsibilities within the Group would be taken up once suitable appointees were identified; save as disclosed therein, to the best of the Directors' knowledge, information and belief, there was no disagreement between Mr. Qin and the Board as at the date of that announcement. However, subsequent to the removal, the Board received an email from Mr. Qin on 1 June 2026 expressing his disagreements with the Board in relation to the removal and his entitlements for termination of employment. In that email, Mr. Qin made several allegations, including the insufficiency of notice given for the Board meeting convened to consider the appointment of three new independent non-executive directors of the Company; non-payment of his outstanding entitlements under his service contract, and the consequential breach of the service contract and the Employment Ordinance (Cap. 57 of the Laws of Hong Kong); his removal being contrary to the requirements under the Company's articles of association or not being in the best interests of all shareholders of the Company; and the Board's failure to consider the significant potential legal and financial impact of his removal. On 11 June 2026, the Board received another email from Mr. Qin, in which he repeated the above disagreements concerning the insufficient notice provided for the Board meeting to appoint three new independent non-executive directors and his outstanding entitlements under the service contract.
NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.
- CHIHO ENV (00976.HK): files notice of discontinuance, terminating legal proceedings
- CHIHO ENV (00976.HK): Clarifies That Scholz Holding and Scholz Recycling Interests Have Been Sold to Derichebourg Environnement
- CHIHO ENV(00976.HK): Initiates Legal Proceedings Over Appointment of Receivers to Subsidiary Shares, Seeking Declaration That Appointments Are Null and Void
