SEM Holdings' Chairman Resigns; Successor Appointed

MT Newswires Live

Feb 02

SEM Holdings (HKG:9929) said Wan Man Keung resigned as chairman with effect from Feb. 1, according to a Monday Hong Kong bourse filing.

The board appointed Yao Shuobin as chairman and non-executive director on the same date.

Yao is an entrepreneur and currently the chairman and chief executive of Shanghai Yaoji Technology (SHE:002605), a Shenzhen-listed company engaged in playing cards manufacturing and mobile game operations.

He beneficially owns about 75% of SEM Holdings through Yao Capital, the filing showed.

Separately, four directors stepped down, and two independent non-executive directors were appointed as part of the board reconstitution following a change in control, it added.

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