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SouthGobi Announces Appointment Of Executive Directors; Change Of Composition Of Board Committee; Changes In Senior Management
VANCOUVER, BC / ACCESSWIRE / September 8, 2022 / SouthGobi Resources Ltd. (TSX:SGQ)(HK:1878)...
About this update from Southgobi Resources Ltd.
[{"type":"text","content":"SouthGobi Announces Appointment Of Executive Directors; Change Of Composition Of Board Committee; Changes In Senior ManagementVANCOUVER, BC / ACCESSWIRE / September 8, 2022 / SouthGobi Resources Ltd. (TSX:SGQ)(HK:1878) (\"SouthGobi\" or the \"Company\") Reference is made to the announcement of SouthGobi Resources Ltd. (\"SouthGobi\" or the \"Company\") dated August 31, 2022 (the \"Announcement\") in relation to the resignation of certain non-executive Directors. Unless otherwise defined herein, capitalized terms used in this announcement shall have the same respective meanings as defined in the Announcement.The Company is pleased to announce that, effective from September 8, 2022, (i) Mr. Dong Wang (\"Mr. Wang\") has been appointed as an executive Director and the Chief Executive Officer (\"CEO\") of the Company and member of the Operations Committee; (ii) Ms. Chonglin Zhu (\"Ms. Zhu\") has been appointed as an executive Director and the Company's Senior Vice President of Finance; (iii) Mr. Dalanguerban (\"Mr. Dalanguerban\") has been appointed as the Company's President and will continue to service as an executive Director of the Company, and President and executive Director of a Company's wholly-owned subsidiary in Mongolia; and (iv) Mr. Alan Ho (\"Mr. Ho\") has been appointed as Chief Financial Officer (previously, the acting Chief Financial Officer).APPOINTMENT OF EXECUTIVE DIRECTORSMr. Wang and Ms. Zhu were nominated for appointment as Directors of the Company by JD Zhixing Fund LP (\"JDZF\") pursuant to contractual nomination rights contained in the securityholders agreement between the Company, JDZF and a former shareholder of the Company and certain deferral agreements between JDZF, the Company and certain of its subsidiaries relating to the Company's US$250 million convertible debenture held by JDZF (as disclosed in the announcement of the Company dated May 27, 2022 and the Management Proxy Circular of the Company dated June 29, 2022). The Company has appointed the aforementioned two Director nominees to the Board as permitted under the Company's Articles of Continuation (\"Articles\") and the Business Corporations Act (British Columbia).The biographical details of Mr. Wang and Ms. Zhu are as follows:Mr. Dong Wang, aged 49, has served as the General Manager of Inner Mongolia Dongfang Guoxin Technology Co. Ltd.* (内...