Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 17, 2023, Mr. Paige E. Craig resigned from his positions as the
Chief Executive Officer, the director, and the Chairman of the board of
directors (the "Board") of the Company, effective immediately. Mr. Craig's
resignation is not as a result of any disagreement with the Company relating to
its operations, policies or practices. On the same date, the Board appointed
Cheuk Hang Chow as the Chief Executive Officer, the director, and the Chairman
of the Board effective immediately.
Cheuk Hang Chow has almost a decade of C-suite leadership and business
development experience in several industries including technology, media and
entertainment. From January 2022 to November 2022, Mr. Chow was the CEO of
MetaOne Limited, a non-fungible token (NFT) asset management platform based in
Asia. Prior to that, from August 2015 to December 2021, he served as CEO to
China Creative Digital Entertainment Limited (formerly HMV Digital China Group),
an investment holding company principally engaged in media and entertainment
businesses in East Asia. Concurrently, from December 2016 to September 2021,
Mr. Chow was also Chief Financial Officer (CFO) and Executive Director to China
Food and Beverage Group Limited (HKG:8272), an investment holding company
principally engaged in operating restaurant businesses in Hong Kong. Apart from
these roles, he has also served as an independent non-executive director to game
developer and service provider company ME2ZEN Limited (950190.KQ) from
February 2019 to January 2021, and to China Food and Beverage Group Limited
(HKG:8272) from December 2016 to December 2021. From September 2010 to
December 2013, Mr. Chow worked as a finance manager in AV Concept Holdings
Limited, a leading marketing and distribution company for semiconductors and
electronic components, and before that, from February 2009 to September 2010, he
was with financial and public relations consultancy Wonderful Sky Financial
Group (01260.HK) as an Investor Relations associate. He started his career in
Risk Advisory at KPMG from December 2007. Mr. Chow earned his Bachelor of
Engineering degree from the University of Hong Kong in August 2007.
Cheuk Hang Chow does not have a family relationship with any director or
executive officer of the Company and has not been involved in any transaction
with the Company during the past two years that would require disclosure under
Item 404(a) of Regulation S-K.
On February 17, 2023, Mr. Matthew C. Hong resigned from the Board, including
from his committee positions on the Compensation Committee, the Audit Committee,
and as Chairperson of the Nominating Committee for his personal reason,
effective immediately. On the same date, the Board appointed Michael Lawrence
Coyne as the independent director of the Board effective immediately replacing
Matthew C. Hong, including the positions on the Compensation Committee, the
Audit Committee, and as Chairperson of the Nominating Committee.
Michael Lawrence Coyne has 8 years of extensive capitals markets, business
development, and deal origination experience. Since January 2023, Mr. Coyne has
been serving as a Principal and Head of Capital Markets in the financial
advisory firm Benjamin Securities. From February 2018 to January 2023, Mr. Coyne
was a partner and Head of Capital Markets at Ingalls & Snyder, LLC, an
investment advisory firm. From August 2015 to February 2018, Mr. Coyne served as
Vice President and Head of Equity Syndicate of Capital Integration Systems LLC,
an online financial services platform based in New York. Prior to that, in
March 2015, he began his career in financial services at the Blackstone Group,
as a private wealth management intern. Concurrently, from February 2012 to
July 2019, Mr. Coyne served as 1st Lieutenant, executive Officer, task force
officer-in-charge and platoon leader and operations officer of the Army National
Guard and the U.S. Army. Mr. Coyne passed the Financial Industry Regulatory
Authority (FINRA) Series 7, 63, 24, 79 examination and obtained a Securities
Industry Essentials (SIE) license in September 2, 2015; January 25, 2016;
September 24, 2018; August 22, 2018 and October 1, 2018, respectively. Mr. Coyne
obtained a bachelor of arts degree in political science and international
affairs from Northeastern University and a master of business administration
degree from Leonard N. Stern School of Business, New York University in 2011 and
2019, respectively.
Michael Lawrence Coyne does not have a family relationship with any director or
executive officer of the Company and has not been involved in any transaction
with the Company during the past two years that would require disclosure under
Item 404(a) of Regulation S-K.
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