HONG KONG, Aug. 31, 2017 /PRNewswire/ -- SGOCO Group, Ltd.
(Nasdaq: SGOC) ("SGOCO" or the "Company"), a company focused on
product design, distribution and brand development in the Chinese
display, computer and virtual reality ("VR") product markets as
well as energy saving products and services, today announced
that the Board of Directors of the Company has appointed Ms. Lee,
Rosana Ching Man ("Rosana Lee") and Ms. Lau, Pui Kiu ("Vicki
Lau") as the directors of the Company, effective on
August 24, 2017, to replace Mr.
Frank Wu and Mr. Pruby He, who
notified their resignation from the Board, effective on
August 24, 2017. Mr. Wu and Mr. He
indicated their resignation are for personal reasons and not due to
any disagreements with the Company.
Vicki Lau, age 28, has served as
the Head of the Sales and Marketing Department at EIFS Limited, a
professional insurance brokerage firm in Hong Kong, since 2014. Ms. Lau is responsible
for managing the operation, creating the social media platform, and
leading the sales team of EIFS. Prior to joining EIFS, she worked
in public relations and corporate communications at Cathay Pacific
Airways in 2010 and as a financial consultant at Prudential and AXA
from 2011 to 2014. Ms. Lau graduated from the University of Michigan, Ann Arbor, with a Bachelor
of Arts in Economics and Political Science in 2011. She is also
qualified as an Associate Financial Planner, IIQE, and holds an
Estate Agent's License and Chinese Insurance Qualification.
Rosana Lee, age 43, has served as
an international director of the Rotary Club in Kowloon, Hong Kong since 2017. From 2002 to
2012, Ms. Lee was the Managing Director at Sun Ngai Plastic
Products Factory Limited. From 2000 to 2002, she worked at Leighton
Construction Company as an engineer. Ms. Lee received her
Bachelor's degree in Engineering and Master's degree in Technology
Management from the University of New South
Wales in 1997 and 2000, respectively.
The Board determines based on its investigation and the
information supplied to the Board with respect to Ms. Lau and Ms.
Lee that they are "independent" under the independence requirements
of Rule 10A-3 promulgated under the Securities Exchange Act of 1934
and as defined by NASDAQ Rule 5605(a)(2), and that Ms. Lau and
Ms. Lee do not have a relationship that would interfere with the
exercise of independent judgment in carrying out the
responsibilities of a director.
Mr. Shi-Bin Xie, Chief Executive
Officer of SGOCO, commented, "we would like to welcome Vicki Lau and Rosana
Lee to the SGOCO Board. We are confident that their
strong professional background and industry expertise will prove
valuable as the Company continues to expand its position in the
energy saving products and services and VR markets. I also want to
thank Mr. Frank Wu and Mr. Pruby He
for their contributions during their tenure as directors of the
Company and wish their success in their future endeavors."
About SGOCO Group, Ltd.
SGOCO Group, Ltd. is focused on product design, brand
development and distribution in the Chinese display, computer and
visual reality ("VR") product markets as well as energy saving
products and services. 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
For investor and media inquiries, please contact:
SGOCO Group, Ltd.
Tony Zhong
Vice President of Finance
Tel: +852 3610 7777
Email: ir@sgoco.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 and energy saving and VR markets in
China; fluctuations in customer
demand for our services and products generally; our success
in promoting our brand of our services and 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 our services and 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.
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SOURCE SGOCO Group, Ltd.