REG - Hutchmed China Ltd - Intended Retirement of Independent NED

HUTCHMED (China)Announcement

11/04/2023 09:30

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RNS Number : 7925V  Hutchmed (China) Limited  11 April 2023

Intended Retirement of Independent Non-executive Director

 

 

Hong Kong, Shanghai & Florham Park, NJ  - Tuesday, April 11, 2023:
HUTCHMED (China) Limited ("HUTCHMED (https://www.hutch-med.com/) " or the
"Company") (Nasdaq/AIM:HCM, HKEX:13) today announces that Dr Karen Jean
Ferrante has informed the Company that she would retire from the Board at the
forthcoming annual general meeting of the Company to be held on May 12, 2023
("AGM"), and that she would not be seeking re-election at the AGM so that she
could devote more time to her personal engagements.  Dr Ferrante will
therefore cease to be an Independent Non-executive Director of the Company at
the conclusion of the AGM.  Upon her retirement as a Director, Dr Ferrante
will also cease to be chairman of the Technical Committee and member of the
Audit Committee of the Company.

 

The Board has resolved that Professor Mok Shu Kam, Tony will be appointed as
chairman of the Technical Committee of the Company following the retirement of
Dr Ferrante at the conclusion of the AGM, subject to Professor Mok being
re-elected as a Director by the shareholders at the AGM. Professor Mok has
been a member of the Technical Committee since 2017.

 

Mr Simon To, Chairman of HUTCHMED said "Since 2017, Dr Ferrante has
contributed her substantial experience, knowledge and leadership in oncology
drug development to HUTCHMED, as chairman of the Technical Committee, as a
member of the Audit Committee, and more generally as an Independent
Non-executive Director. With her involvement, the Board has guided HUTCHMED as
it has transformed from an early-stage drug research and development company
in China into a fully-integrated biopharma that now manufactures, markets and
sells three of our novel oncology medicines, and having managed several global
clinical trials. On behalf of the Board of Directors and the senior
management, we would like to express our gratitude and appreciation for Dr
Ferrante's contributions to the Company over the past six years, and we wish
her all the best for her future endeavors."

 

Mr To continued, "I also congratulate Professor Mok on his appointment as
chairman of the Technical Committee of the Company, which will continue to
benefit from his over three decades of experience in clinical oncology
contributing to cancer research worldwide."

 

Further announcement will be made in relation to appointment of member to the
Audit Committee as and when appropriate, in compliance with applicable rules
and requirements.

 

Pursuant to the requirements of Rule 13.51(2) of the Rules Governing the
Listing of Securities on The Stock Exchange of Hong Kong Limited, Dr Ferrante
has confirmed that she has no disagreement with the Board and that there are
no other matters that need to be brought to the attention of the shareholders
of the Company in connection with her retirement from the Board.

 

About HUTCHMED

 

HUTCHMED (Nasdaq/AIM:HCM; HKEX:13) is an innovative, commercial-stage,
biopharmaceutical company. It is committed to the discovery and global
development and commercialization of targeted therapies and immunotherapies
for the treatment of cancer and immunological diseases. It has more than 5,000
personnel across all its companies, at the center of which is a team of about
1,800 in oncology/immunology. Since inception it has focused on bringing drug
candidates from in-house discovery into clinical studies around the world,
with its first three oncology drugs now approved and marketed in China. For
more information, please visit: www.hutch-med.com (https://www.hutch-med.com/)
or follow us on LinkedIn (https://www.linkedin.com/company/hutchmed/) .

 

 

Forward-Looking Statements

 

This announcement contains forward-looking statements within the meaning of
the "safe harbor" provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward-looking statements reflect HUTCHMED's current
expectations regarding future events. Forward-looking statements involve risks
and uncertainties. Such risks and uncertainties include, among other things,
the risk that current or future appointees to HUTCHMED's board of directors
are not effective in their respective positions, the difficulty in locating
and recruiting suitable candidates for its board of directors and the
management difficulties which may arise from changes in HUTCHMED's board of
directors. Existing and prospective investors are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the date
hereof. For further discussion of these and other risks, see HUTCHMED's
filings with the U.S. Securities and Exchange Commission, on AІM and with The
Stock Exchange of Hong Kong Limited. HUTCHMED undertakes no obligation to
update or revise the information contained in this announcement, whether as a
result of new information, future events or circumstances or otherwise.

 

 

CONTACTS

 

 Investor Enquiries
 Mark Lee, Senior Vice President                    +852 2121 8200
 Annie Cheng, Vice President                        +1 (973) 306 4490

 Media Enquiries
 Americas - Brad Miles,                             +1 (917) 570 7340 (Mobile)

Solebury Strategic Communications                 bmiles@s (mailto:bmiles@soleburystrat.com) oleburystrat
                                                    (mailto:bmiles@soleburystrat.com) .com (mailto:bmiles@soleburystrat.com)
 Europe - Ben Atwell / Alex Shaw,                   +44 20 3727 1030 / +44 7771 913 902 (Mobile) /

FTI Consulting                                    +44 7779 545 055 (Mobile)
                                                    HUTCHMED@fticonsulting.com (mailto:HUTCHMED@fticonsulting.com)
 Asia - Zhou Yi,                                    +852 9783 6894 (Mobile)

Brunswick                                         HUTCHMED@brunswickgroup.com (mailto:HUTCHMED@brunswickgroup.com)

 Nominated Advisor
 Atholl Tweedie / Freddy Crossley, Panmure Gordon   +44 (20) 7886 2500

 

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