Led International Holdings Regulatory News (LED)

21 Mar 2007 07:00

LED International Holdings Ltd21 March 2007 LED International Holdings Limited ("LED International" or "the Company") Board Changes LED International, which specialises in the development, manufacture and sale ofcustomised LED screens and other LED products, is pleased to announce a numberof key appointments to its board of directors ("Board") with immediate effect. Dr Jim Kalok, aged 37, has been appointed as Chief Executive Officer. Dr Jimjoins the Board from the Strong Base Group where he was the general manager. Hehas held a number of senior positions in international manufacturing companies.He has significant experience in the operational management of manufacturingbusinesses, having worked as senior engineer and operations manager for BookhamUK, an optical component manufacturer, where he oversaw the relocation of thecompany's processing facility to Shenzhen in the PRC. He is also director ofOptivance, a fibre optics development company based in Oxfordshire in the UnitedKingdom. Dr Jim has a PhD in Physics from Oxford University and speaks English, Dutch,German, Mandarin and Cantonese. The Company has also appointed Mr. Lee Man Bun, aged 44, as Executive Chairman.Mr. Lee has over 25 years in the electronic manufacturing industry and is thefounder, majority shareholder and chairman of the Strong Base group of companies("Strong Base Group"), a LED manufacturer in the People's Republic of China ("PRC"). Peter Chau will remain on the board as Non-Executive Vice Chairman, but isstepping down from Chief Executive Officer. In addition, Mr. Sam Tian hasresigned as an Executive Director to pursue his other business interest. In making the above changes to the Board, the Company has significantlystrengthened the Board's operational capability in terms of manufacturing skillsknowledge and contacts in the PRC, enabling the Company greater penetration interms of product solutions, marketing and acquisitions. Commenting, Lee Man Bun, Executive Chairman of LED International said: "Onbehalf of the shareholders, I would like to thank Peter and Sam for theircommitment to the business during their time as Executive Directors. Inparticular, Peter led the Company during its flotation and his commitment tosecuring an international listing has ensured that LED International has thenecessary platform to grow and develop our business. I look forward to workingwith Peter going forward." On Dr Jim's appointment he added: "Dr Jim has extensive knowledge of thetechnology and the manufacturing process and the new executive management havethe skill set required to create significant shareholder value from our uniquetechnology." -ends- For further information, please contact: LED International Holdings Limited +852 28104470Mervyn Cragg, Chief Financial Officer Corporate Synergy Plc 020 7448 4400Romil PatelShane Gallwey Tavistock Communications 020 7920 3150Matt RidsdaleSimon Compton NOTES TO EDITORS: Directors information Lee Man Bun is currently, or has been in the past five years, a director of thefollowing companies: Current: Past:Strong Base Electronic Factory Limited Precision Instruments Co., LtdStrong Base Investment LimitedStrong Base Electronics-Optics Technology Corp.Genesys Technologies LimitedHuge Winners Laser System (Hong Kong) Corp. LimitedHuge Winners CNC System (Shenzhen) Co., LimitedMB Group LimitedSemson LimitedGuangdong Enping Strongbase Circuit Board Co.,LimitedGuangdong Taishan Guanglong Precise MachineryFactoryTaishan Honglong Electricity Technology Co.,LimitedShanghai Shenjianlong Electronics-Optic Device Co.,Limited Dr Kalok Jim is currently, or has been in the past five years, a director of thefollowing companies: Current: Past:Optivance Limited None Directors interests Director: % interest in the issued share capital of the Company:Lee Man Bun 35.4%Peter Chau 30.7%Mervyn Cragg 3.2%Ian Martin 0.3% Each of the Directors have undertaken to Corporate Synergy and to the Companynot to dispose of any of their Ordinary Shares (subject to certain limitedexceptions) within twelve months of admission to AIM. For a period of twelvemonths thereafter they have each undertaken not to sell or otherwise dispose ofany of their Ordinary Shares other than through the Company's broker from timeto time (subject to certain limited exceptions). The Strong Base Group The Strong Base Group is a related company to LED International, whichundertakes on LED International's behalf: a) Sales; the Strong Base Group acts as sales agent for LED International -taking orders for screens and products and passing these onto LED International; b) Stock purchases; the Strong Base Group has a 2 year supply agreement with LEDInternational running to 8 September 2008 to procure inventories for LEDInternational; c) the Strong Base Group rents 11 large LED screens from LED International; and d) the Strong Base Group owns 60% of Guangdong Yagi Photo Technology, a largecustomer of LED International. A shareholders' relationship agreement has been signed with Mr Lee Man Bun underwhich he undertakes to conduct all transactions on an arms length basis and incertain circumstances to abstain from voting at an AGM in respect ofresolutions concerning the Strong Base Group. This information is provided by RNS The company news service from the London Stock Exchange