Technovative Group, Inc. (OTCMKTS:TEHG) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02.
On November 22, 2018, Mr. Lin Kuan Liang Nicolas notified Technovative Group, Inc. (the “Company” or “Technovative”) of his resignation from the Company as the interim Chief Financial Officer (“CFO”), effective immediately. The Board of Director of the Company (the “Board”) has accepted Mr. Lin’s resignation. Mr. Lin will continue to act as the Company’s Chief Executive Officer. Mr. Lin’s resignation as CFO is due to personal reason, and not due to any disagreement with the Company on any matter related to the Company’s operations, policies or practices.
Following Mr. Lin’s departure as CFO, the Board appointed Mr. Wanhong Tan as CFO effective as of November 22, 2018. Mr. Tan has over 30 years of financial and leadership experience at the managerial level.
Mr. Tan has served as the Chief Financial Officer of Moxian, Inc. from July 2016 to Present. From November 2009 to October 2015, Mr. Tan served as the Vice-President Investor Relations of 361 Degrees International Limited. Mr. Tan trained and was qualified with Grant Thorton International in Liverpool, England and was admitted as an associate of the Institute of Chartered Accountants, England & Wales, in 1980.
The Company and Mr. Tan entered into an Employment Agreement on November 22, 2018 (the “Tan Employment Agreement“) in connection with his appointment as CFO. to the Tan Employment Agreement, Mr. Tan will receive an annual base salary of HK$276,000 (approximately US$35,266).
Mr. Tan does not have any family relationship with any other director or executive officer of the Company. There have been no related party transactions between the Company and Mr. Tan reportable under Item 404(a) of Regulation S-K.
The foregoing description of Mr. Tan’s compensation and the terms and conditions of his employment is qualified in their entirety by the complete text of the Tan Employment Agreement, which is filed as hereto as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
On November 28, 2018, the Company issued a press release announcing the appointment of Mr. Tan as the CFO. A copy of the press release is filed hereto as Exhibit 99.1 and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
Technovative Group, Inc. ExhibitEX-10.1 2 f8k112218ex10-1_technovative.htm EMPLOYMENT AGREEMENT BETWEEN THE COMPANY AND WANHONG TAN,…To view the full exhibit click here
About Technovative Group, Inc. (OTCMKTS:TEHG)
Technovative Group, Inc. is engaged in producing and marketing the platform called SpeedG Platform. The Company’s SpeedG Platform is a combination of use products that provide solutions for its clients to establish and maintain their online presence, as well as allows its clients to promote and market their businesses effectively.