WUHAN, China, Jan. 7, 2015 /PRNewswire/ -- Kingold Jewelry,
Inc. ("Kingold" or "the Company") (NASDAQ: KGJI), one of
China's leading manufacturers and
designers of high quality 24-karat gold jewelry, ornaments and
investment-oriented products, today announced that it has formed a
formal committee focused on ensuring that the Company is creating
value for stockholders. The stockholder value committee consists of
Board members Chairman Zhihong Jia,
David Sherman, and Zhonghong
Fu, assisted by the Company's Chief
Financial Officer, Bin Liu.
The Company's Board of Directors has been reviewing its
corporate strategy with a view towards setting a formal process of
reviewing methods in which the Company can consistently enhance
stockholder value, including providing greater investor access to
management, improving its corporate governance, being consistent in
its capital market strategy, and providing greater
transparency.
Chairman Jia is the founder of Kingold and through a call option
arrangement with Famous Grow Holdings Limited is the beneficial
owner of roughly 16 million shares in Kingold. Mr. Jia has also
served as Vice President of the Gems and Jewelry Trade Association
of China since November 2005. Zhonghong
Fu joined the board of Kingold on October 27, 2014. Mr. Fu is the partner in charge
of the Shanghai branch of Fortune
Venture Capital Co. Ltd. Fortune Capital is one of the leading
Chinese venture capital firms with over $3
billion in assets under management. Mr. Fu was appointed as
Chairman of the Compensation Committee and as a member of the Audit
and Nominating Committee.
David Sherman has served
as an independent director of
Kingold Jewelry Inc. since February 1,
2011. Mr. Sherman has served as Chairman of the Audit
Committee and as a member of the Compensation and Nominating
Committees since February 2011. Mr.
Sherman is a Professor of Accounting at Northeastern University D'Amore McKim School of
Business.
About Kingold Jewelry, Inc.
Kingold Jewelry, Inc.
(NASDAQ: KGJI), centrally located in Wuhan City, one of China's largest cities, was founded in 2002
and today through a variable interest entity, or VIE, relationship
with Wuhan Kingold Jewelry Company Limited, a corporation
incorporated in the People's Republic of
China, is one of China's
leading designers and manufacturers of 24-karat gold jewelry,
ornaments, and investment-oriented products. The Company
sells both directly to retailers as well as through major
distributors across China.
Kingold has received numerous industry awards and has been a
member of the Shanghai Gold Exchange since 2003. For more
information, please visit www.kingoldjewelry.com.
Company Contact
Kingold Jewelry, Inc.
Bin Liu, CFO
Phone: +1-847-660-3498 (US) / +86-27-6569-4977 (China)
bl@kingoldjewelry.com
INVESTOR RELATIONS
The Equity Group Inc.
Katherine Yao, Associate
+86 10-6587-6435
kyao@equityny.com
Adam Prior, Senior Vice
President
(212) 836-9606
aprior@equityny.com
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SOURCE Kingold Jewelry, Inc.