Business Context and Reporting Period
This Form 6-K filing by Dragon Victory International Limited (associated with Metalpha Technology Holding Ltd) covers the month of June 2019, with a filing date of June 4, 2019. The report details a change in the composition of the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is strictly a disclosure of corporate governance changes and does not contain financial performance data.
Material Changes
- Resignation: Ms. Han Zhang resigned from the Board of Directors and all committee memberships (Audit, Nominating and Corporate Governance, Compensation) effective April 1, 2019, citing personal reasons.
- Appointment: Ms. Jingxin Tian was appointed to the Board of Directors on June 3, 2019, to fill the vacancy until the next annual meeting.
- Committee Roles: Ms. Tian will serve on the Audit, Nominating and Corporate Governance, and Compensation Committees, acting as chairperson for the latter two.
Management Commentary and Compensation
Ms. Tian brings over 13 years of legal experience, including roles as a partner at Jingsh Law Firm and an arbitrator. The Company entered into a Director Agreement with Ms. Tian effective June 3, 2019, agreeing to pay her RMB98,000 annually in cash, payable quarterly in arrears. The Company will also reimburse reasonable and approved expenses. No family relationships or material transactions involving Ms. Tian were disclosed for the past two years.
Investor Verification Checklist
- Verify the effective date of Ms. Tian's appointment and her specific committee chairmanships.
- Confirm the annual compensation amount of RMB98,000 and the quarterly payment schedule.
- Review the background of Ms. Tian to assess her qualifications for the Audit and Compensation Committees.
- Check for any subsequent filings regarding the status of the vacancy or further board changes.