Carlyle's nominee on China Fishery's board steps down

China Fishery

31/08/2015 01:55

SINGAPORE, Aug 31 (Reuters) - Carlyle Group's nominee on the 
board of China Fishery Group  CNFG.SI  has stepped down, a few 
months after the U.S. private equity firm declined to take part 
in the Singapore-listed company's rights issue. 
    Patrick Siewert resigned as a non-executive director from 
August 29, China Fishery said on Monday. 
    Carlyle's stake in China Fishery fell from 11.1 percent to 
6.2 percent following a rights issue earlier this year.  
    China Fishery cited the reduced stake and competing 
commitments as reasons for Siewart's departure from the board.   
  
    His alternate director, Janine Feng Junyuan, also stepped 
down. 
    Shares of China Fishery and its parent, Pacific Andes 
International Holdings  1174.HK , have come under pressure 
following last month's announcement that the companies were 
facing a probe by the Monetary Authority of Singapore and  
Singapore's white-collar police for an offence under the 
securities and futures act.  ID:nWNBS018QP  
 
 (Reporting by Saeed Azhar; Editing by Stephen Coates) 
 ((Saeed.Azhar@thomsonreuters.com; +65-64035664 ; Reuters 
Messaging: saeed.azhar.reuters.com@reuters.net)) 
 
Keywords: CHINA FISHERY MOVES/