Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
On September 20, 2019, Mr. Kin Chung TAM, Ken (“Mr. Tam”) was appointed as members of our Board of Directors of the Company’s Executive directors. Mr. Hung Hin Samuel LEUNG (“Mr. Leung”) and Mr. Kwok Fai YIP, Thomas (Mr. Yip) were appointed as members of our Board of Directors of the Company’s Independent and Non-executive directors – Audit committee. On September 20, 2019, Ms. Stella Hui Sin Ching and Mr. Wong Sin Ching were resigned from the member of our Board of Directors of our company.
Mr. Tam possess bachelor Degree on Design Innovation from Victoria University of Wellington New Zealand since 2014. He is working on brand design and marketing strategy for a decade. Nowadays, he is founder Brand Production Limited in Hong Kong and director Create Sth Marketing Limited in Hong Kong and China.
Mr. Leung possess Master Degree on Quantitative Analysis for Business from City University of Hong Kong since 2013. He is working on financial industry for a decade. Nowadays, he is director licensed Trustee Company in Hong Kong and licensed payment settlement company compliance and operation officer in Hong Kong. He also joins serval many public employments including as a public relationship director of Alumni Association of Open University of Hong Kong and Strategic Advisor, TY Caring Foundation.
Mr. Yip obtained his MBA degree in European University in 2017, Thomas is working in Enterprises Risk Management and financial industry for more than 38 years, he holds directorship in two licenses HK Trustee companies and he is the co-founder and director of Seascope Risk Services (HK) Ltd and Bassac Insurance Broker in Cambodia.He is the executive committee member of Professional Insurance Brokers Association which is a Self-regulatory body of HK Insurance Broker since 2013..
During the past few years, Mr. Tam, Mr. Leung and Mr. Yip have not been the subject of the following events:
1. A petition under the Federal bankruptcy laws or any state insolvency law was filed by or against, or a receiver, fiscal agent or similar officer was appointed by a court for the business or property of such person, or any partnership in which he was a general partner at or within two years before the time of such filing, or any corporation or business association of which he was an executive officer at or within two years before the time of such filing;
2. Convicted in a criminal proceeding or is a named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);
3. The subject of any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining him from, or otherwise limiting, the following activities; associated person of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person, director or employee of any investment company, bank, savings and loan association or insurance company, or engaging in or continuing any conduct or practice in connection with such activity;
i) Acting as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker, leverage transaction merchant, any other person regulated by the Commodity Futures Trading Commission, or
ii) Engaging in any type of business practice; or
iii) Engaging in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of Federal or State securities laws or Federal commodities laws;
4. The subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any Federal or State authority barring, suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described in paragraph 3.i in the preceding paragraph or to be associated with persons engaged in any such activity;
5. Was found by a court of competent jurisdiction in a civil action or by the Commission to have violated any Federal or State securities law, and the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated;
6. Was found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any Federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been subsequently reversed, suspended or vacated;
7. Was the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently reversed, suspended or vacated, relating to an alleged violation of:
i) Any Federal or State securities or commodities law or regulation; or
ii) Any law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order, or
iii) Any law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or
8. Was the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization (as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26)), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange Act (7 U.S.C. 1(a) (29)), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.
Family Relationships
There are no family relationships among our directors or executive officers.
Director Qualifications
Mr. Tam, Mr. Leung and Mr. Yip are qualified to be Company director because they have managed several businesses successfully and thus brings management, organizational, operational and administrative experience to our Board.