Xinhua Finance Announces AGM Date, New Board Members
May 12 2008 - 12:50AM
PR Newswire (US)
SHANGHAI, China, May 12 /Xinhua-PRNewswire-FirstCall/ -- Xinhua
Finance (TSE Mothers: 9399 and OTC: XHFNY), China's leading
financial information provider, today announced that it will hold
its Annual General Meeting for shareholders on June 25, 2008 in
Shanghai. Following the AGM, the Company will hold an informational
meeting in Tokyo for shareholders and investors. The main item on
the agenda is the addition of two new board members. Chairman Wu
Jiguang, who was appointed by Xinhua News Agency to be chairman of
Xinhua Finance in 2003 in line with the 20-year agreement between
Xinhua Finance and the Xinhua News Agency reached in 2000, remains
the chairman again this year. "It is a great honor, as it always
has been, to have Chairman Wu on our board," said Xinhua Finance
CEO Ms Fredy Bush. "His advice and guidance over the years have
been invaluable to the company and to our management team. Chairman
Wu's role in the context of our 20-year agreement with Xinhua News
Agency is important." Other remaining board members are Fredy Bush,
Jae Lie, Daniel Connell, and Aloysius T. Lawn. As required by the
Company's articles of association, Jae Lie will be nominated for
re-election this year. The following candidates are being proposed
for election as independent directors at the AGM: Mr. Chen Xiaolu,
who is the son of one of the few legendary founders of the People's
Republic of China along with Chairman Mao. His father was one of
the Ten Marshals credited with the 1949 victory and was also named
the first Mayor of Shanghai, China's most important commercial
city. Mr. Chen Xiaolu himself has held a number of senior positions
with China's military and served as Deputy Defense Attache at the
Chinese Embassy in London. He was also Departmental Director of the
Political Restructuring Research Office of the Communist Party of
China's Central Committee. In the late 1980s, he moved into the
business world, and is currently a Director of Standard
International Investment Consultancy Co, Ltd and also an
Independent Director of Bosera Funds. Photo link:
http://www.xinhuafinance.com/ChenXiaoLu "I am delighted to join the
board of Xinhua Finance Limited," said Mr. Chen Xiaolu. "This
company has helped to bring transparency to China's financial
markets with important and pioneering products. Xinhua Finance is
good for China, and I am looking forward to lending my full support
to Xinhua Finance and its management." Ms Jeanne Murtaugh, who is
Vice Chairman Emeritus of Bank of New York ConvergEx Group, LLC, a
leading firm in agency brokerage and investment technology
solutions and Vice Chairman of BNY ConvergEx Execution Solutions,
based in New York. Ms Murtaugh joined The Bank of New York in 1997
through the acquisition of BNY Brokerage where she was a lead
principal. She began her career at J.P. Morgan, then served in
various management positions at Wachovia Bank where she established
the Bank's retail brokerage business and global custody services,
and subsequently at Morgan Stanley & Co. through its ESI
subsidiary. Photo link: http://www.xinhuafinance.com/JeanneMurtaugh
With these changes, the board of directors of Xinhua Finance will
have seven members, of whom a majority of four are independent. "We
are honored to welcome Mr. Chen Xiaolu and Jeanne Murtaugh to the
Board," said Ms Bush. "We look forward to our continued work with
existing board members and to gain new insights from new board
members." The AGM notice will be available for download on the
Company's website at
http://www.xinhuafinance.com/en/for-investors/ir-calendar/ after 3
June. The date and venue of the meeting for shareholders and
investors in Tokyo will be announced later on the same webpage.
Notes to Editors About Xinhua Finance Limited Xinhua Finance
Limited ("XFL") is China's premier financial information and media
service provider and is listed on the Mothers Board of the Tokyo
Stock Exchange (symbol: 9399) (OTC ADRs: XHFNY). Bridging China's
financial markets and the world, Xinhua Finance's proprietary
content platform, comprising Indices, Ratings, Financial News, and
Investor Relations, serves financial institutions, corporations and
re-distributors worldwide. Through its subsidiary Xinhua Finance
Media Limited (NASDAQ:XFML), XFL leverages its content across
multiple distribution channels in China including television,
radio, newspaper, magazine and outdoor media. Founded in November
1999, XFL is headquartered in Shanghai, with offices and news
bureaus spanning 11 countries worldwide. For more information,
please visit http://www.xinhuafinance.com/ . This is a press
release to the public and should not be relied on as information to
make an investment decision by any investor. Investors should read
the Company's Securities Report filed to Tokyo Stock Exchange and
consider the risk factors together with other information contained
therein when making an investment decision. This press release
contains some forward- looking statements that involve a number of
risks and uncertainties. A number of factors could cause actual
results, performance, achievements of the Company or industries in
which it operates to differ materially from any future results,
performance or achievements expressed or implied by these
forward-looking statements. For more information, please contact:
Ms. Joy Tsang Tel: +86-21-6113-5999 Mob: +86-136-2179-1577 Email:
DATASOURCE: Xinhua Finance Limited CONTACT: Ms. Joy Tsang,
+86-21-6113-5999, or mobile, +86-136-2179-1577, or
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