TAKUNG ART CO., LTD (NYSEAMERICAN: TKAT) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 19, 2018, Messrs. Di Xiao and Zishen Li, each, a director of the board of directors (the “Board”) of Takung Art Co., Ltd. (the “Company”), tendered their resignations from serving as members of the Board, and as for Mr. Xiao, also from his Chairman of the Board and Chief Executive Officer positions, effective the same date. The resignations by Messrs. Xiao and Li are not a result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

On November 19, 2018, by unanimous written consent, the Company’s Governance and Nominating Committee (the “Nominating Committee”) recommended and the Board appointed Ms. Xiaoyu Zhang and Mr. Ming Cheng as members of the Board, to fill in the Board seats vacant by the resignation of the two former Board members aforementioned. Xiaoyu Zhang and Ming Cheng shall be eligible for reelection (along with the Company’s other directors) at the Company’s upcoming Annual Meeting of Shareholders. The Board elected Ms. Xiaoyu Zhang as Chair Person of the Board. The Nominating Committee and the Board also appointed Mr. Chun Hin Leslie Chow, current Chief Financial Officer, to be the acting Chief Executive Officer.

Biographical Information for New Directors.

Ms. Xiaoyu Zhang

Ms. Zhang, age 31, has been an auditor with PricewaterhouseCoopers at its New Zealand Auckland office since November 2018. Prior to that, she was a senior supervisor of Internal Audit Department with the headquarter of Tianjin KinCheng Bank in China. Ms. Zhang had been an associate and senior associate with PricewaterhouseCoopers China from 2009 to 2015. Ms. Zhang obtained her Bachelor of Financial Management from Tianjin University, located in China and Master of Business Administration from Nankai University, located in China, and Postgraduate Diploma in Accounting from Massey University, located in New Zealand.

Mr. Ming Cheng

Mr. Cheng, age 34, works with Northern Lights Tech Development Co., Ltd, located in Tianjin, China, in charge of the E commercial platform and Customer Relationship Management (“CRM”) development projects since 2015. Prior to the aforementioned, he served with Good Technology located in Tianjin, China, as the technology team leader in charge of their development of Business Mail System Application and CRM development from 2013 to 2014. Prior to this, he worked for Intel Corporation with the mobile CPU development project and before that he worked at Nokia for handset development project from 2008 to 2011. Mr. Cheng earned his Master of Multimedia from Communication University of China and a Bachelor of Automation from Beijing University of Post and Communication.

Takung Art Co., Ltd. Exhibit
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