TIDMRCG
RNS Number : 4950D
RCG Holdings Limited
28 March 2014
The following amendment has been made to the Directorate Changes
announcement released at 10.02am on 7 March 2014 (RNS Number 7878B)
by RCG Holdings Limited (the "Company"). This announcement
included, correctly, the appointment of Sim Kay Wah as Chief
Financial Officer of the Company but incorrectly referred to him
joining the board of directors of the Company. All other details in
the announcement remain unchanged. The full text of the amended
announcement is set out below:
RCG Holdings Limited
("RCG" or the "Company" and together with its subsidiaries, the
"Group")
Directorate Changes and CFO appointment
The board of directors (the "Board") of RCG Holdings Limited
(AIM: RCG, HKSE: 802) hereby announces the appointment of Mr. Liu
Wen ("Mr. Liu") as independent non-executive director of the
Company and as the chairman to the Board of the Company, the
appointment of Mr. Sim Kay Wah ("Kenny Sim"), who had been serving
as the Deputy Chief Financial Officer of the Company, as Chief
Financial Officer of the Company and the resignation of Mr. Pieter
Lambert Diaz Wattimena ("Pak Pieter") as independent non-executive
director of the Company. The directorate changes and the CFO
appointment are effective 7 March 2014.
Appointment of Independent Non-Executive Chairman
Mr. Liu is registered as a foreign lawyer with the Law Society
of Hong Kong and is Head of the China Division of Li, Wong, Lam
& W. I. Cheung Solicitors. Having graduated with a Bachelor of
Law degree from Peking University, Mr. Liu began his career
practising law in Guangdong Province, PRC before relocating to Hong
Kong in 1997.
Experienced in both Hong Kong and Mainland China matters,
particularly in relation to foreign direct investments in China,
Mr. Liu is also a Member of the 5(th) and 6(th) Meizhou Municipal
Committee of the Chinese People's Political Consultative
Conference, Guandong Province and is a guest lecturer of the
Chinese Manufacturers' Association of Hong Kong.
Appointment of Chief Financial Officer
Kenny Sim, who had been serving as the Deputy Chief Financial
Officer of the Company, has been promoted to the role of Chief
Financial Officer of the Company, with immediate effect.
Kenny Sim joined the Group in 2010 and, in his most recent role
of Deputy Chief Financial Officer, having assumed the
responsibilities of the Company's previous Chief Financial Officer,
has been responsible for overseeing the Company's financial and
accounting matters together with the Group's administration. Kenny
will now maintain this role on a permanent basis. Prior to joining
RCG, Kenny was CFO of Smartag Solutions Berhad and before that,
Financial Controller of Limahsoon Berhad.
Experienced in the fields of corporate finance, investment
banking and investment management, Kenny graduated from the Royal
Melbourne Institute of Technology, Australia with a Bachelor's
degree in Accountancy and also holds a Master's degree from the
same university in Finance. Kenny is a Chartered Accountant of the
Malaysian Institute of Accountants and a Certified Public
Accountant of CPA Australia.
Resignation of Independent Non-Executive Director
The Board also announces that Pak Pieter has resigned as
independent non-executive director of the Company with effect from
7 March 2014, due to his other commitments. Upon his resignation,
he has ceasedto be a member of the audit committee and also
remuneration committee of the Company.
Pak Pieter hasconfirmed that he has no disagreement with the
Board and there is no further information in relation to his
resignation that needs to be brought to the attention of the
shareholders of the Company or The Stock Exchange of Hong Kong
Limited.
Board Committee Changes
The Board further announces that with effect from 7 March 2014,
Mr. Liu has also been appointed as the chairman of the nomination
committee of the Company and a member of the audit committee and
remuneration committee of the Company.
In addition, Mr. Kwan King Wah, an independent non-executive
director, who presently is the chairman to the Company's audit
committee and a member to the nomination committee of the Company,
has also been appointed as a member of the remuneration committee
of the Company with effect from 7 March 2014.
Commenting on the appointments and on Pak Pieter's resignation,
Mr. Wang Zhongling, the Company's Chief Executive Officer,
commented:
"We are delighted to welcome Simon Liu to the Board of RCG and
Kenny Sim as CFO. I have no doubt that Mr. Liu's experience in both
Hong Kong and Mainland China matters will prove invaluable to the
Group.
"Kenny's expertise in accounting and finance has already proven
extremely valuable to the Company, and I am confident that he will
continue to make a significant contribution to the Group.
"The Board would like to take this opportunity express its
sincere gratitude to Pak Pieter for his valuable contribution to
the Company during his tenure of office."
Enquiries:
RCG Holdings Limited Tel: +852 2637 2800
Wang Zhongling, Chief Executive Officer
ir@rcg.tv
Smith & Williamson Corporate Finance Limited Tel: +44 (0) 20 7131 4000
(Nominated adviser and broker)
Dr. Azhic Basirov / David Jones / Ben Jeynes
Additional Information
Other than his appointment as a Director of the Company, Liu Wen
(aged 46) holds, or has held within the last five years, the
following directorships:
Current Directorships Previous Directorships within
the last five years
Hong Kong Mei Zhou Association Limited -
Hong Kong Hakka Association Limited
Kenny Sim (aged 37) holds, or has held within the last five
years, the following directorships:
Current Directorships Previous Directorships within
the last five years
BioTag International Limited Smartag International Inc
RCG Assets Limited Chance Best Technology Limited
RCG Capital Limited RCG Corporation Limited
RCG China Holdings Limited RCG (Hong Kong) Limited
RCG Holdings Limited* Stepfull Limited
RCG Hong Kong Holdings Limited Strong Aim Limited
RCG International Holdings Limited Vast Base Technology Limited
RCG (Macao Commercial Offshore) Company RCG Xcess Sdn. Bhd.
Limited
RCG Malaysia Limited RCG Solutions Sdn. Bhd
RCG Middle East Limited RCG Soft Limited
Sharp Asia International Limited
Logic Eight Sdn. Bhd.
RCG Land Sdn. Bhd.
RCG (Malaysia) Sdn. Bhd.
RCG Matrix Sdn. Bhd.
Tag Station MSC Sdn. Bhd.
*a subsidiary of the Company incorporated in the British Virgin
Islands
This information is provided by RNS
The company news service from the London Stock Exchange
END
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