Ultrasonic AG
Ultrasonic AG: Personnel changes at Ultrasonic AG
Ultrasonic AG / Key word(s): Change of Personnel/Miscellaneous Corporate News Personnel changes at Ultrasonic AG – COO to take leave of absence for health reasons – New Chief Financial Officer Cologne, 12 September 2014 – As announced in today’s ad-hoc news release, Minghong Wu, COO of Ultrasonic AG (Prime Standard, ISIN DE000A1KREX3, US5), has informed the Supervisory Board that he has to go to the hospital for medical treatment due to ongoing health problems. He will therefore be taking six months leave of absence. During this period his operational duties will be assumed by the company’s CEO Qinyong Wu and two long-standing senior managers from Sales and Marketing. In addition, following the successful negotiation of a credit facility with Nomura, the Supervisory Board announced an upcoming change of CFO. The present CFO, Chi Kwong Clifford Chan, is stepping down for family related reasons on 30 September 2014 to spend more time with his family in Hong Kong. His successor is Mr. YEUNG Man Kin, who was most recently responsible for accounting and budget planning at Amnesty International Hong Kong. Mr. Chan’s decision was taken in full consultation with the company, which nevertheless regrets his decision. “Mr. Chan played a key role in Ultrasonic’s successful stock market listing and has been involved in the highly accurate forecasting and orderly reporting procedures since then. He is also a valued contact for our investors. The Management Board and Supervisory Board would like to thank him for his achievements and wish him all the best for the future. The company is pleased to have secured the services of Mr. Yeung as an able successor who has the necessary skills to successfully continue Mr. Chan’s work,” comments Johannes Mauser, Chairman of the Supervisory Board. Mr. Yeung has a degree from the Polytechnic University of Hong Kong and is a member of the International Association of Chartered Certified Accountants and of the Hong Kong Institute of Certified Public Accountants. He has many years of experience in finance and accounting. Before working for Amnesty International, he held various positions in the financial services sector, including posts at the auditor and consultancy company Mazars and Modern Education Group Ltd., which is listed on the Hong Kong Stock Exchange. Mr. Yeung will take up his new post at Ultrasonic AG on 1 October 2014 and introduce himself to investors for the first time on the German Equity Forum which takes place from November 24th to November 26th in Frankfurt am Main. Until then, Mr. Chan will also support Ultrasonic in an advisory capacity so that a smooth transition is ensured. About Ultrasonic The Cologne-based company Ultrasonic AG is the German holding company of the Chinese ULTRASONIC Group, an established manufacturer and supplier of high-quality branded urban footwear. The Group has around 1,400 employees and operates in three main market segments, each of which currently contributes about a third of revenue. ULTRASONIC produces sandals and slippers for the upper price segment for the local and international market. It is also a long-term supplier of shoe soles to leading manufacturers in the established Chinese sport shoe industry such as Anta, Xtep and Unisuper. Moreover, the company has developed its own very successful high-quality urban footwear collection which is marketed under the ULTRASONIC brand and targets China’s young, fashion-conscious urban middle class, which has high purchasing power and expects high quality. The ULTRASONIC product line is currently marketed via more than 110 mono-label shops. For further information about the company visit: www.ultrasonic-ag.de For enquiries: Ultrasonic AG Chi Kwong Clifford Chan Member of the Management Board and CFO E-Mail: ir@ultrasonic-ag.de Tel.: +86 1525 947 9902 (China), +852 966 227 40 (Hong Kong) Disclaimer: This document is no offer for the purchase of securities in the United States of America. Securities may only be sold or offered for sale with the previous registration under the U.S. Securities Act of 1933 in the actual valid version or without previous registration only pursuant to an exemption. The shares of Ultrasonic AG (the ‘Shares’) have not been registered under the U.S. Securities Act of 1933 in the actual valid version and may not be sold or offered in the United States. This document is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the ‘Order’) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as ‘relevant persons’). The Shares, which are referred to, are only available to relevant persons and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
Contact: Chi Kwong Clifford Chan Member of the Management Board and CFO Email: ir@ultrasonic-ag.de Phone +86 1525 947 9902 (China) Phone +852 966 227 40 (Hong Kong) 12.09.2014 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | Ultrasonic AG | |
c/o BPG mbH, Graf-Adolf-Platz 12 | ||
40213 Düsseldorf | ||
Germany | ||
Phone: | +86 1525 947 9902 (China); +852 966 227 40 (Hong Kong) | |
Fax: | +49 (0)211 172 9829 | |
E-mail: | ir@ultrasonic-ag.de | |
Internet: | www.ultrasonic-ag.de | |
ISIN: | DE000A1KREX3 | |
WKN: | A1KREX | |
Indices: | CDAX, Classic All Share, DAXsector All Consumer, DAXsector Consumer, DAXsubsector All Clothing & Footwear, DAXsubsector Clothing & Footwear, Prime All Share | |
Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart | |
End of News | DGAP News-Service |
286839 12.09.2014 |