China Metro Rural Holdings Limited Announces Resignation of Non-Executive Director
December 06 2013 - 8:30AM
Marketwired
China Metro Rural Holdings Limited Announces Resignation of
Non-Executive Director
NEW YORK, NY--(Marketwired - Dec 6, 2013) - The Board of
Directors of China Metro-Rural Holdings Limited (NYSEMKT: CNR) (the
"Company") today has announced that Mr. Cheng Chung Hing ("Mr.
Cheng") has tendered his resignation as member of the Board of
Directors, to be effective December 5, 2013. Mr. Cheng served
as Chairman of the board of directors, President and Chief
Executive Officer of the Company from July 24, 2009 until August
25, 2011, June 1, 2011 and March 22, 2010 respectively. He remained
as one of the directors of the Company since March 22, 2010 until
his resignation.
"We are thankful for Mr. Cheng for his contributions in our
overall business direction to CNR in past years as the Company has
undergone a successful transformation from Man Sang Holdings Inc.
to China Metro Rural and achieved profitability," said Mr. Sam Sio,
CEO and Chairman of the Board.
"CNR will continue its strategic focus on growing revenues and
maintaining profitability," said Mr. Cheng. "I am proud of our
accomplishments over the past years and I am sincerely grateful for
the support I have received from the Board of Directors, our
customers and our employees. While I am transitioning as a
shareholder only, I will remain a supporter and major shareholder
of CNR."
The Board of Directors of the Company has accepted Mr. Cheng's
resignation and Mr. Cheng confirms that he does not have any
disagreement with the Board of Directors and there are no other
matters related to his resignation that need to be brought to the
attention of the shareholders of CNR or the United States
Securities and Exchange Commission.
ABOUT CHINA METRO-RURAL HOLDINGS LIMITED China Metro-Rural
Holdings Limited is a leading agricultural logistics platform
development and rural-urban migration and city re-development
company in China.
Forward-Looking Statements This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, which are, by
their nature, subject to risks and uncertainties. This Act
provides a "safe harbor" for forward-looking statements to
encourage companies to provide prospective information about them
so long as they identify these statements as forward-looking and
provide meaningful cautionary statements identifying important
factors that could cause actual results to differ from the
projected results. All statements, including statements
regarding industry prospects and future results of operations or
financial position, made in this press release are forward
looking.
Words such as "anticipate", "believe", "estimate", "expect",
"intend", "may", "plan", "predict", "project", "will", "would" and
similar expressions may identify forward-looking
statements. These forward-looking statements include, without
limitation, statements relating to: the Company's future
performance, the Company's expansion efforts, the state of economic
conditions, the Company's market and the governmental
policy. These forward-looking statements are based on
assumptions and analyses made by the Company in light of its
experience and perception of historical trends, current conditions
and expected future developments, as well as other factors the
Company believes to be appropriate in particular
circumstances. However, whether actual results and
developments will meet the Company's expectations and predictions
depends on a number of known and unknown risks and uncertainties
and other factors, any or all of which could cause actual results,
performance or achievements to differ materially from the Company's
expectations, whether expressed or implied by such forward-looking
statements.
CONTACT: China Metro-Rural Holdings Limited - Investor Relations
Department Phone: (852) 2111 3815 E-mail: Email Contact
www.chinametrorural.com
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