Business Context and Reporting Period
This Form 6-K filing by Dragon Victory International Limited (associated with Metalpha Technology Holding Ltd) was submitted on September 5, 2019. The report discloses changes to the Board of Directors effective September 30, 2019.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes rather than financial performance.
Material Changes
- Departure of Director: Ms. Cloris Li resigned as an independent director and member of the Audit, Nominating and Corporate Governance, and Compensation Committees. Her resignation is effective September 30, 2019, due to personal reasons with no disagreement regarding company operations.
- Appointment of Director: Mr. Bin Liu was elected to fill the vacancy on the Board of Directors, effective September 30, 2019. He will serve on the Audit, Nominating and Corporate Governance, and Compensation Committees.
- Compensation: Mr. Liu will receive an annual cash fee of RMB110,000, payable quarterly in arrears, plus reimbursement for reasonable expenses.
Outlook, Risks, and Management Commentary
Mr. Liu brings over 20 years of experience in accounting, finance, and capital markets, including roles at Beijing Houyi Capital Management Co., Ltd., Jianwen Financial Holding Co., Ltd., and the Shanghai Securities Regulatory Bureau. The filing states there are no family relationships between Mr. Liu and other executive officers or directors, and no material transactions involving Mr. Liu in the past two years.
Key Facts for Investor Verification
- Confirm the effective date of the board changes is September 30, 2019.
- Verify Mr. Bin Liu's background and lack of conflicts of interest as disclosed.
- Note that this filing contains no financial data; investors should refer to Form 20-F for financial metrics.
- Check for any subsequent filings regarding the transition of committee duties.