YULONG ECO-MATERIALS LIMITED (NASDAQ:YECO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02
|
Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
Resignation of Directors
Effective February 11, 2017, Ms. Alice Io Wai Wu, Mr. Michael W.
Harlan and Mr. Guosheng Liu (together the Former Directors)
resigned as directors of Yulong Eco-Materials Limited (the
Company).The decision by the Former Directors to resign was not
the result of any material disagreement with the registrant on
any matter relating to the registrants operations, policies or
practices.
Appointment of New Director
Effective February 11, 2017, the Companys board of directors
appointed Ms. Junfeng Ma, Mr. Yang Li and Mr. Qingsheng Liu (the
New Directors) as a new members of the Companys board of
directors to replace the Former Directors.There is no family
relationship among any of the New Directors and any of the
Companys other directors or executive officers. In addition, the
Board has approved the appointment of Ms. Junfeng Ma as Companys
interim chairperson of the audit committee. While Company believe
Ms. Mas accounting experience qualifies her to be the chairperson
of the audit committee, the Company is actively searching for a
candidate who is an expert with U.S. GAAP rules to chair the
audit committee. Ms. Ma will serve as the chairperson of the
audit committee during Companys search.
Junfeng Ma, 41, accepted her appointment as a
director for the Company effective on February 11, 2017. Ms. Ma
has been the Vice President of Henan Zhonglian Accounting Firm
since January of 2017. Ms. Ma is currently leading large audit
projects such as those for the Zhengzhou Pediatric Hospital
Center and Luoyang Joint Disease Hospital. From November 2012 to
December 2016, Ms. Ma worked for the Zhengzhou Municipal Branch
of Ping An Bank for which Ms. Ma served as client manager, small
business department chair and also branch president. From January
2000 to October 2012, Ms. Ma served as an auditor for Da Hua
CPAss Henan provincial branch. Ms. Ma participated in the audit
of more than 100 companies, including Henan Sinian Group, Datang
Power Group and Aluminum Corporation of China. Ms. Ma obtained
her bachelor degree from Henan University in 1996. She is a
certified public accountant and valuation appraiser in China. We
believe that Ms. Mas accounting experience qualifies her to be a
member of our board of directors.
Yang Li, 29, accepted her appointment as a
director for the Company effective on February 11, 2017.Since
February 2012, Ms. Li has been the General Manager of Henan
Yuliang Hotel, managing the general operation of the hotel. From
October 2010 to January 2012, Ms. Li worked for Star Cruises
Limited, a Singaporean cruise line, as client manager, primarily
responsible for the relationship management of VIP clients for
the Japan-Taiwan cruise lines. Ms. Li is currently an EMBA
candidate at the Zhengzhou University and obtained her bachelor
degree from Henan University in 2012. We believe that Ms. Lis
business experience and communication skills qualifies her to be
a member of our board of directors.
Qingsheng Liu, 60, accepted his appointment as a
director for the Company effective on February 11, 2017.Mr. Liu
has served as the Deputy Commissioner of Henan Provincial Human
Resource and Environment Bureau since November 2009. In this
capacity, Mr. Liu is responsible for research relating to policy
issues involving population growth, environmental protection and
resource allocation. Mr. Liu obtained his bachelor degree in
foreign language from Zhengzhou University in 1984.
About YULONG ECO-MATERIALS LIMITED (NASDAQ:YECO)
Yulong Eco-Materials Limited is a holding company. The Company is a manufacturer of building products. The Company’s segments include Yulong Bricks; Yulong Concrete and Yulong Transport, and Yulong Renewable. The Yulong Bricks segment is engaged in the production and sale of fly-ash bricks. The Yulong Concrete and Yulong Transport segment is engaged in the production and sale of ready-mixed concrete. The Yulong Renewable segment is engaged in the hauling and processing of construction waste, and production and sale of recycled aggregates and recycled bricks. The Company produces fly ash bricks and ready-mixed concrete. The Company’s construction waste management (CWM) business includes hauling and processing construction waste, and producing crushed construction waste or recycled aggregates, and bricks made from recycled aggregates, or recycled bricks. The Company operates principally from the city of Pingdingshan, Henan Province, in the People’s Republic of China. YULONG ECO-MATERIALS LIMITED (NASDAQ:YECO) Recent Trading Information
YULONG ECO-MATERIALS LIMITED (NASDAQ:YECO) closed its last trading session up +0.05 at 1.01 with shares trading hands.
