Pharmaron Beijing Co., Ltd. (stock code: 3759) announced the voluntary resignation of Independent Non-Executive Director (INED) Tsang Kwan Hung Benson, who will step down once a proposed replacement is approved by shareholders at an upcoming extraordinary general meeting (EGM). He has served since November 2019 and will remain in his role until the new INED is elected.

Meanwhile, the board nominated and approved the proposed by-election of candidate Prof. Tsang King Fung, who is slated to join the audit, remuneration and appraisal, and nomination committees upon receiving shareholder approval. The company plans to execute a service agreement with the newly appointed director, subject to an annual remuneration of RMB300,000 (before tax).

In addition, the board proposed amendments to the Articles of Association to align with the latest regulations. Key changes include dissolving the Supervisory Committee, delegating its functions to the audit committee, setting up a special meeting mechanism for INEDs, clarifying board committee responsibilities, and incorporating provisions on employee representative directors. These amendments, pending EGM approval, aim to maintain regulatory compliance and streamline governance structures.

Shareholders will vote on these proposals at the upcoming EGM. A circular detailing the by-election and amendments will be issued in due course.