LZYY(SH:603368) Zheng Quan Zhi Xing·2025-08-29 17:34Core Viewpoint - The document outlines the management system for the resignation of directors and senior management at Guangxi Liuyao Group Co., Ltd, aiming to ensure stable corporate governance and protect the rights of the company and its shareholders [1]. Summary by Sections General Principles - The system applies to all directors and senior management who resign voluntarily, upon term expiration, or due to dismissal [1]. - The regulations are based on relevant laws, regulations, and the company's articles of association [1]. Resignation Circumstances and Effectiveness - Directors and senior management can resign before their term ends by submitting a written resignation report, which becomes effective upon receipt by the company [3]. - If a director resigns, they must continue to fulfill their duties until a new director is elected if the board's composition falls below the legal minimum [4]. Disclosure and Replacement - The company must disclose the resignation details within two trading days, including the resignation time, reasons, and any ongoing commitments [2]. - A replacement for a resigning director must be completed within 60 days to ensure compliance with legal requirements [2]. Responsibilities and Obligations - Directors and senior management must complete a handover of responsibilities within 30 days after resignation, ensuring business continuity [12]. - They are required to cooperate with any exit audits related to significant decisions made during their tenure [13]. Shareholding Management - Resigning directors and senior management cannot transfer their shares for six months post-resignation [20]. - Any share reduction during their term or within six months post-resignation is limited to 25% of their total shareholding [20]. Final Provisions - The system will be executed in accordance with national laws and regulations, and the board of directors is responsible for its interpretation and revision [22].