UCLOUDLINK GROUP INC. Announces Passing Away of an Independent Director
June 30 2023 - 4:00AM
UCLOUDLINK GROUP INC. (“UCLOUDLINK” or the “Company”) (NASDAQ:
UCL), the world’s first and leading mobile data traffic sharing
marketplace, today announced with deepest sorrow that Mr. Onward
Choi, an independent director of the Company, chairman of the
Company’s audit committee, and member of the Company’s compensation
committee and nominating and corporate governance committee, passed
away on June 12, 2023.
Mr. Choi served as our independent director
since June 2020. The board of directors (the “Board”) would like to
express our greatest appreciation for Mr. Choi’s valuable
contributions to the Company during his tenure of office and convey
our sincere condolences to his family and friends.
The Company intends to maintain a four-person
board with two independent directors. As at the date of this
announcement, each of the Company’s audit committee, compensation
committee and nominating and corporate governance committee
comprises two members, Ms. Hope Ni and Prof. Ying Kong, both being
the Company’s independent directors. The Board has determined that
Ms. Hope Ni qualifies as an “audit committee financial expert”
under Item 16A of Form 20-F and a financially sophisticated audit
committee member under Rule 5605(c)(2)(A) of the Listing Rules of
the Nasdaq Stock Market, and has appointed her as the chairperson
of the Company’s audit committee, effective on June 30, 2023.
About UCLOUDLINK GROUP INC.
UCLOUDLINK is the world’s first and leading
mobile data traffic sharing marketplace, pioneering the sharing
economy business model for the telecommunications industry. The
Company’s products and services deliver unique value propositions
to mobile data users, handset and smart-hardware companies, mobile
virtual network operators (MVNOs) and mobile network operators
(MNOs). Leveraging its innovative cloud SIM technology and
architecture, the Company has redefined the mobile data
connectivity experience by allowing users to gain access to mobile
data traffic allowance shared by network operators on its
marketplace, while providing reliable connectivity, high speeds and
competitive pricing.
For more information, please
contact:
UCLOUDLINK GROUP INC.Jillian ZengTel: +852-2180-6111E-mail:
ir@ucloudlink.com
Investor Relations:The Equity Group Inc.Alice
Zhang, AssociateTel: +1-212-836-9610E-mail:
azhang@equityny.com
In China:Lucy Ma, AssociateTel: +86 10 5661 7012E-mail:
lma@equityny.com
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