BEIJING, April 29, 2013 /PRNewswire/ -- SGOCO Group,
Ltd. (Nasdaq: SGOC), ("SGOCO" or the "Company"), a company focused
on product design, distribution and brand development in the
Chinese flat-panel display market, today announced that the Board
of Directors has appointed Ms. Wai Man
(Helen) Hsu as an Independent Director of the Company,
effective April 26, 2013, to replace
Mr. Yoann Normandeau, who had
resigned from the Board for personal reasons and confirmed no
disagreements with the Company.
Ms. Hsu had served at Ernst & Young for 18 years and was a
partner for Ernst & Young before she retired from the firm in
February 2011. During her career with
Ernst & Young, Ms. Hsu acted as the audit partner on numerous
multinational groups, private and public companies. She also had
considerable experience in a wide range of industries, including
NGOs, real estate, construction, electronic and electrical,
consumer products, telecommunications, information technology,
catering, garment, manufacturing, wholesaling and retailing.
Ms. Hsu was also actively involved in special assignments,
including initial public offerings, mergers, acquisitions, and due
diligence reviews. She is a member of the Hong Kong Institute of
Certified Public Accountants and a member of the American Institute
of Certified Public Accountants. She holds a Bachelor degree in
business administration from the Chinese
University of Hong Kong.
Mr. Burnette Or, President and
Chief Executive Officer of SGOCO, commented, "I would like to
welcome Ms. Hsu to the SGOCO Board. We are confident that her
strong financial background and industry expertise will prove
valuable as the Company continues to expand its position in the
flat-panel display market. I also want to thank Mr. Yoann Normandeau for his contributions during
his tenure as a Director of the Company and wish him success in his
future endeavors."
About SGOCO Group, Ltd.
SGOCO Group, Ltd. is focused on product design, brand
development and distribution in the Chinese flat-panel display
market, including computer monitors, TVs and application specific
products. SGOCO sells its products and services in the Chinese
market and abroad. For more information about SGOCO, please visit
our investor relations website http://www.sgocogroup.com.
Safe Harbor and Informational Statement
This announcement contains "forward-looking" statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. All statements,
other than statements of historical fact, including, without
limitation, those with respect to the objectives, plans and
strategies of the Company set forth herein and those preceded by or
that include the words "believe," "expect," "anticipate," "future,"
"will," "intend," "plan," "estimate" or similar expressions, are
"forward-looking statements". Forward-looking statements in this
release include, without limitation, the effectiveness of the
Company's multiple-brand, multiple channel strategy and the
transitioning of its product development and sales focus and to a
"light-asset" model, Although the Company's management believes
that such forward-looking statements are reasonable, it cannot
guarantee that such expectations are, or will be, correct. These
forward-looking statements involve a number of risks and
uncertainties, which could cause the Company's future results to
differ materially from those anticipated. These forward-looking
statements can change as a result of many possible events or
factors not all of which are known to the Company, which may
include, without limitation, requirements or changes adversely
affecting the LCD and LED market in China; fluctuations in customer demand for LCD
and LED products generally; our success in promoting our brand of
LCD and LED products in China and
elsewhere; our ability to have effective internal control over
financial reporting; our success in designing and distributing
products under brands licensed from others; management of sales
trend and client mix; possibility of securing loans and other
financing without efficient fixed assets as collaterals; changes in
government policy in China; the
fluctuations and competition in sales and sale prices of LCD and
LED products in China;
China's overall economic
conditions and local market economic conditions; our ability to
expand through strategic acquisitions and establishment of new
locations; changing principles of generally accepted accounting
principles; compliance with government regulations; legislation or
regulatory environments; geopolitical events, and other events
and/or risks outlined in SGOCO's filings with the U.S. Securities
and Exchange Commission, including its annual report on Form 20-F
and other filings. All information provided in this press release
and in the attachments is as of the date of the issuance, and SGOCO
does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
For investor and media inquiries, please contact:
SGOCO Group, Ltd.
Serena Wu
Investor Relations Manager
Tel: +86 (10) - 85870173 (China)
US: +1(646) - 5831616 (Voice mail)
Email: ir@sgoco.com
SOURCE SGOCO Group, Ltd.