Crown Global (00727.HK) announced that on Tuesday (10th), it received a request from one of its major Shareholders to immediately suspend the duties of Executive Director Chen Yuzhan and to convene a special general meeting of Shareholders to remove Chen Yuzhan from the Board of Directors. Chen Yuzhan concealed from the Board of Directors his bankruptcy order dated March 4, 2002, which should be disclosed in accordance with Listing Rule 13.51(2)(i).

After considering this is a matter of integrity, the Board of Directors decided during the board meeting held yesterday (11th) to temporarily suspend all duties and powers of Chen Yuzhan as Executive Director, effective immediately upon the conclusion of the board meeting until further notice. The Board believes that suspending Chen Yuzhan's duties and powers is in the overall best interest of the company and Shareholders.