Resignation of KVB Kunlun’s exec director Ng Chee Hung Frederick gets into effect
Mr. Liu Stefan, the chief executive officer and the executive director of the company, has been appointed as its Compliance Officer.
A followup to FinanceFeeds’ earlier article about the resignation of Mr. Ng Chee Hung Frederick as executive director of Hong Kong-focused retail FX broker KVB Kunlun Financial Group Ltd (HKG:8077)…
The broker announced today the resignation of Mr. Ng as an executive director of the company was effective on November 17, 2017. The Board also announced that following the resignation of Mr. Ng as an executive director of the company, he has also ceased to be the compliance officer of the company and its authorised representative. Mr. Ng has stressed that there is no disagreement between him and the board of directors of the broker.
Mr. Liu Stefan, the chief executive officer and the executive director of the company, has been appointed as the Compliance Officer. Mr. Wong Yiu Kit, Ernest, the chief financial officer and the company secretary of the company, has been appointed as the Authorised Representative, with effect from November 17, 2017.
As a part of the announcement of its results for the third quarter of 2017, KVB Kunlun highlighted its intentions to transfer of listing of its shares from GEM to Main Board of the Stock Exchange. The formal application for the change was submitted on August 30, 2017.
The application is currently being considered by the Stock Exchange.
KVB Kunlun stressed that its shareholders and potential investors should be aware that the implementation of the proposed transfer of listing is subject to, inter alia, the granting of relevant approval by the Stock Exchange. Therefore, there is no assurance that permission will be obtained from the Stock Exchange for the proposed transfer of listing.
KVB’s Board sees the proposed transfer as a way to enhance the corporate profile of the company. The change is also poised to add competitive strength to the brokerage and bolster the confidence of its investors and stakeholders. The corporate Board also expects that the Main Board trading platform will enhance trading liquidity of the shares of the broker as well as improve its fund raising capabilities. All of these factors are poised to ultimately contribute to increasing value to the KVB’s shareholders.
