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The Board of RCG Holdings Limited (AIM:RCG, HKSE:802), an international provider of biometric and RFID products and solution services with a primary focus in the Asia Pacific markets, today announces that Mr. Pieter Lambert Diaz Wattimena ("Mr. Diaz Wattimena") has been appointed as an Independent Non-Executive Director of the Company with effect from 25 March 2010.
Mr. Diaz Wattimena, aged 60, has dedicated over 30 years of service to the Indonesian Air Force and government, including appointments as Chief of 2nd Operation Command Expert in Makasar in 1997, Expert Staff of Air Force Chief of Staff at Headquarter of Air Force in 1999, Head of Duty, Air Force Flying Safety and Work in Indonesian Air Force in 2000, Air Vice Marshall (Two Star General) of Indonesian Air Force in 2002 and Director General of Defence Facility and Procurement in 2005. He was also appointed as a Member of House of Representative/House of Parliament of the Republic of Indonesia from the Indonesia National Army/Police fraction from 1999 to 2004. To date, Mr Diaz Wattimena still acts as an adviser to national organisations such as the Federation of Indonesia Labour Association for Metals, Electronics and Machines and the Research Center of Political Communication and Social Society “Institut Lembang Sembilan”. He graduated from the Air Force Academy in 1972, holds a bachelor degree of political science from Universitas Terbuka and is currently enrolled in the Institute of Business of Law and Management. He does not and has not held any directorships or partnerships in any companies or partnerships in the last five years preceding the date of this announcement. Mr. Diaz Wattimena does not have any relationship with any director, senior management, or substantial or controlling shareholder of the Company.
Under the appointment letter of Mr. Diaz Wattimena entered into with the Company, the initial term of service is one year with a director's fees of HK$240,000 per annum (£20,513 (based on an exchange rate of £1 = HK$11.7)). Mr. Diaz Wattimena emolument was determined with reference to his duties and responsibilities with the Company, the Company’s standard for emoluments and market condition. Mr. Diaz Wattimena will be subject to retirement by rotation and re-election at the Company’s annual general meeting at least once every three years in accordance with Bye-law 87(1) of the Company’s Bye-laws.
There are no further disclosures to be made regarding this appointment under paragraph (g) of Schedule Two of the AIM Rules, in connection with Mr. Diaz Wattimena’s appointment to the RCG Board.
Dato' Lee Boon Han, Chief Executive Officer of RCG, commented: “I am delighted to have appointed Mr. Pieter Lambert Diaz Wattimena to the Board. We believe that the appointment will further strengthen the independence of the Board, and enhance the strategic management and corporate governance of the Company as it enters a new phase of growth in 2010 and beyond.”
Please click on the below link to view the results announcement.as it appears on the Hong Kong Stock Exchange website:
> Announcement (English)
> Announcement (Chinese)
For further information:
RCG Holdings Limited
Tel: +852 3669 6999
Dato’ Lee Boon Han, Chief Executive Officer
KC Chong, Chief Financial Officer
ir@rcg.tv
Evolution Securities Limited
(Nominated adviser and broker)
Barry Saint / Tim Redfern / Esther Lee
Tel: +44 (0) 20 7071 4300
Media enquiries:
Abchurch Communications Limited
Henry Harrison-Topham / Joanne Shears
Tel: +44 (0) 20 7398 7702
henry.ht@abchurch-group.com
www.abchurch-group.com
About RCG
RCG, a leading global provider of integrated biometrics and RFID security solutions, is publicly quoted and its shares are listed on the Main Board of the Stock Exchange of Hong Kong Limited and admitted to trading on the AIM Market of the London Stock Exchange and the PLUS market. The Company has an aggressive growth strategy with a clear focus on developing new applications and revenue streams for global roll-out, particularly in the security applications industry.
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