SYDNEY, HONG KONG and NEW
YORK, Jan. 22, 2021
/PRNewswire/ -- Integrated Media Technology Limited (NASDAQ: IMTE)
("IMTE" or the Company), announced on January 19, 2021 changes to its Board with the
appointment of Mr. Luis Puyat to its
Board of Directors and the change of status of Mr. Uwe Parpart from Independent non-Executive
Director to Executive Director.
With effect from January 15, 2021,
Mr. Puyat will serve as an Independent non-Executive Director and a
member of the Board's Audit Committee and Remuneration Committee.
The size of IMTE's Board was increased from five to six members
with Mr. Puyat's appointment.
Mr. Puyat is currently the Chief Executive Officer of VGP
Investments, Inc. a privately held PE firm based in Makati, Metro
Manila. Mr. Puyat is also the Executive Director of privately
funded First Sovereign Asset Management, Inc. Prior to this, Mr.
Puyat was involved in the Puyat family owned Manila Bank from 1986
to 2007, acting as the president from 1994 to 1999, and as Chairman
of the Board from 1999 to 2007.
On the same date, Mr. Uwe
Parpart's status was changed from Independent non-Executive
Director to Executive Director. Mr. Parpart also resigned from the
Mr. Con Unerkov. Chairman and CEO of IMTE, stated, "We are
pleased to welcome Mr. Luis Puyat as
a new Independent non-Executive Director to the IMTE Board. Mr.
Puyat is an accomplished financial executive with over 25 years of
relevant experience. He is an ideal addition to IMTE's team as we
continue to drive our business strategy forward especially with our
new securities research and risk analysis business in China that was recently announced through an
investment in Greifenberg Capital Limited.".
As announced on December 29, 2020,
IMTE entered into an agreement acquiring up to 60% of Greifenberg
Capital Limited to provide risk analysis on China's securities markets. Our Director Mr.
Uwe Parpart who has over 30 years of
experience as a senior executive in the finance industry will
manage the roll out of this business. Accordingly, Mr. Parpart's
status as a Director changes from Independent non-Executive
Director to Executive Director.
Mr. Uwe Parpart, IMTE's new
Executive Director commented, "I have known Luis for over three
decades. His extensive experience in the banking and asset
management industry in Asia will
be extremely helpful in guiding our strategic efforts in research
and risk analysis for China's
fast-growing securities industry. We are very excited to have Luis
join IMTE's Board of Directors."
Mr. Puyat commented, "I am familiar with IMTE's overall business
and the new financial services initiative in China. I have known Mr. Parpart for over three
decades and collaborated with him on banking ventures on several
occasions in the past. I am confident that I can contribute, in
particular, to the successful commercialization of IMTE's
securities markets undertaking. I look forward to working with the
skilled board of directors as we continue to execute our strategy,
drive profitability and enhance value for all our
About Integrated Media Technology Limited
Integrated Media Technology Limited. is engaged in the business
of glass-free 3D (also known as autostereoscopic 3D) display, the
manufacture and sale of nano coated plates for air filters, the
sale of electronic glass and financial research and data services.
The three new business operations in air filters, electronic glass
and financial research services are expected to form the foundation
of our future growth strategy.
For more information, please visit www.imtechltd.com.
Safe Harbor Regarding Forward-Looking Statements
This press release 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, including those
regarding IMTE's expectations, intentions, strategies, and beliefs
pertaining to future events or future financial performance. Actual
events or results may differ materially from those in the
forward-looking statements because of various important factors,
including those described in the Company's most recent filings with
the SEC. IMTE assumes no obligation to update publicly any such
forward-looking statements, whether because of new information,
future events or otherwise. For a more complete description of the
risks that could cause our actual results to differ from our
current expectations, please see the section entitled "Risk
Factors" in IMTE's annual reports on Form 20-F and interim reports
on Form 6-K filed with the SEC, as such factors may be updated from
time to time in IMTE's periodic filings with the SEC, which are
accessible on the SEC's website and at
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