Announcement on Resolutions of the Eighth Meeting of Seventh Board of Directors
The Company and all members of the Board of Directors hereby warrant that the information contained in this announcement is true, accurate and complete, and assume joint and several liabilities for any false representation, misleading statement or material omission.
The notice of the eighth meeting of the seventh Board of Directors was sent out on 12 October 2011, and the meeting was held in Fuzhou on 28 October 2011. 15 directors shall attend the meeting, and 15 directors were in fact present. Director Lu Xiaodong entrusted Director Liao Shizhong to exercise the voting right on his behalf. The meeting was convened in compliance with provisions of the Company Law of the People’s Republic of China and the Articles of Associations of the Company. 6 supervisors attended the meeting as observers.
The meeting was presided over by Chairman Gao Jianping. The following proposals were reviewed and adopted as resolutions at the meeting:
I. Proposal on Drafting the 2011-2015 Development Plan Outline
The Board approved in principle the plan outline and made the following requirements: Both the international and domestic economic and financial situation is facing great uncertainty, therefore, when implementing the development plan outline, the management should make flexible business development plans in accordance with the objectives set in the plan outline and adapted to the external market changes. The Company shall strengthen the comprehensive capital management, take inito account of changes in capital market and regulations and make scientific capital supplement plans. The Company shall improve the capital raising, allocation, utilization and performance examination system and maintain the balance between the business development (both current and future) and capital demand.
The Company shall consider the above-mentioned uncertain factors and latest environment and policy changes, make scientific and rational annual development targets on a year-on-year basis, set detailed annual development strategy and priority, and carry out implementation after obtaining approval from the Board of Directors.
Voting Result: In Favor: 15 votes; In Opposition: 0 vote; Abstention: 0 vote.
II. 2011 Q3 Reports.
Voting Result: In Favor: 15 votes; In Opposition: 0 vote; Abstention: 0 vote.
III. Proposal on Formulating the Internal Control Basic Rules.
Voting Result: In Favor: 15 votes; In Opposition: 0 vote; Abstention: 0 vote.
The Board also listened to the report on 2011 January*September operating status and report on Guangzhou Branch purchasing 7-11 floors of Guangzhou Industrial Building.
Board of Directors,
Industrial Bank Co., Ltd.
28 October, 2011