WECAST NETWORK, INC. (NASDAQ:WCST) 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.
Effective as of April 14, 2017, Polly Wang and Xuesong Song,
members of the Board of Directors (the Board) of the Wecast
Network, Inc. (the Company) resigned from the Board. Ms. Wang and
Mr. Songs decisions to resign did not involve any disagreement
with the Company, the Companys management or the Board. The Board
accepted Ms. Wang and Mr. Songs resignations effective April 14,
2017.
Also effective as of April 14, 2017, the Board appointed Sean
Wang to fill one of the vacancies on the Board. There is no
arrangement or understanding between Mr. Wang and any other
persons to which Mr. Wang was elected as a director of the
Company. There are no family relationships between Mr. Wang and
any of the Companys officers and directors and there are no other
transactions to which the Company or any of its subsidiaries is a
party in which Mr. Wang has a material interest subject to
disclosure under Item 404(a) of Regulation S-K.
| Item 8.01 | Other Events. |
On April 20, 2017, the Company issued a press release announcing
the appointment of Mr. Wang to the Board. A copy of the press
release is attached hereto as Exhibit 99.1 and is incorporated
herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Description | |
| 99.1 | Press Release, dated April 20, 2017. |
About WECAST NETWORK, INC. (NASDAQ:WCST)
Wecast Network, Inc., formerly YOU On Demand Holdings, Inc., is a content video on demand (VOD) service provider with operations in the People’s Republic of China. The Company, through its subsidiaries and variable interest entity, provides content and integrated value-added service solutions for the delivery of VOD and paid video programming to digital cable providers, Internet Protocol Television (IPTV) providers, over-the-top (OTT) streaming providers, mobile manufacturers and operators, as well as direct customers. The Company operates through video content and media segment. The Company is a multi-platform entertainment company delivering content, including Hollywood and China-produced movie titles, as well as children’s programming, to customers’ mobile and television screens across China through subscription video on demand (SVOD) and transactional video on demand (TVOD) services. WECAST NETWORK, INC. (NASDAQ:WCST) Recent Trading Information
WECAST NETWORK, INC. (NASDAQ:WCST) closed its last trading session up +0.07 at 2.76 with 59,261 shares trading hands.
