Friday, August 22, 2014
Sunvic: to lift trading halt at 2.45 pm Former Executive Chairman and CEO Sun Liping (last position as non-executive director) has passed away. Sun was also the indirect majority shareholder (61.7% stake) of the company. The board says Sun's passing will have no adverse impact on the group bcs a succession has been put in place. Sun's son, Sun Xiao has been CEO of Sunvic since Jan '13. Sunvic also clarifies there will be no impact on any on-going transactions, including the JV with Arkema which received EGM approval in Jun. The group is in the process of executing and implementing the terms of the JV.