VITAXEL GROUP LIMITED (OTCMKTS:VXEL) 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
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Departure of Directors or Certain Officers; Election of Directors, Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
(c) Appointment of Chief Financial Officer
On April 3, 2017, we appointed Ng Kar Woh (Mr. Ng), age 37, to
serve as the Chief Financial Officer of Vitaxel Group Limited
(Vitaxel or the Company).
Mr. Ng previously served as the Companys Financial Controller as
of February 6, 2017 and was promoted to Chief Financial Officer
of the Company on April 3, 2017. Prior to working with the
Company, Mr. Ng worked as the Senior Finance Manager of Askme
Malaysia, an online e-commerce company from October 2015 to
February 2017. From September 2014 to October 2015, Mr. Ng served
as the Regional Finance Team Leader at Premiere Global Services,
a telecommunication company. From August 2012 to September 2014,
Mr. Ng served as the Finance Manager of AWT International Sdn
Bhd, an Australian based oil and gas company. Mr. Ng holds a B.S.
in accounting and finance from Curtin University Australia.
In connection with Mr. Ngs appointment as Chief Financial
Officer, Mr. Ng will receive an annual base salary of RM156,000
and will be eligible to receive three months worth of pay if the
Company terminates him without three months prior notice.
With respect to the disclosure required to Item 401(d) of
Regulation S-K, there are no family relationships between Mr. Ng
and any director or executive officer of the Company, and Mr. Ng
does not have any direct or indirect material interest in any
transaction required to be disclosed to Item 404(a) of the
Regulation S-K.
(d) Appointment of New Directors
Effective April 3, 2017, we appointed Richard Anzalone (Mr.
Anzalone) and Lim Wai Khoong (Mr. Lim), to fill the two vacancies
on our Board of Directors.
There are no transactions between each of Messrs. Anzalone and
Lim and the Company that would be required to be disclosed to
Item 404(a) of the Regulation S-K.
About VITAXEL GROUP LIMITED (OTCMKTS:VXEL)
Vitaxel Group Limited, formerly Albero, Corp., is engaged in direct selling industry and online shopping platform primarily through its operating entities in Malaysia. It is a global direct selling, multi-level marketing (MLM) company offering travel, entertainment, lifestyle and other products and services principally through electronic commerce. Through Vitaxel Online Mall SBN BHD (Vionmall), the Company employs online shopping Websites for retail sales direct to consumers. Its Vitaxel SDN BHD (Vitaxel) packages include product points (which are exchangeable for tour and travel products or travel kits). The Company provides its members with training, which includes prospecting and closing skills, plan orientation, back-office training, network management, personal and leadership development and team-building activities. As of September 30, 2016, the Company had approximately 5,827 members, with approximately 4,131 members in Malaysia and approximately 1,141 members in Singapore. VITAXEL GROUP LIMITED (OTCMKTS:VXEL) Recent Trading Information
VITAXEL GROUP LIMITED (OTCMKTS:VXEL) closed its last trading session up +0.0002 at 0.0120 with 19,800 shares trading hands.
