Board appointments

The Board of RCG has concluded a review of the Company’s senior management succession with a view to further strengthening the independence of the Board, and enhancing strategic management and corporate governance of the Company as it enters a new phase of growth in 2010 and beyond. Accordingly, RCG is pleased to confirm the following changes to the Board which have been made with immediate effect.

1. Executive Directors

•  Dato' Lee Boon Han, Deputy Chief Executive Officer, has been promoted to Chief Executive Officer of the Company;

•  Mr. “KC” Chong (Khing Chung), the Group’s Chief Financial Officer continues in this role and, in addition, has been appointed to the Board as an executive Director;

•  Mr. Lawrence Ying (Kan Man), an executive Director, has been appointed as the acting Chief Operating Officer of the Company; and

•  Mr. Raymond Chu, Chairman and Chief Executive Officer, has stepped down as Chief Executive Officer but remains as the Company’s Executive Chairman;

2.  Non-executive Directors

•  General Dato' Seri Mohd Azumi, an Independent Non-executive Director, has been appointed Deputy Chairman of the Company in a non-executive capacity; and

•  Ms. Anita Chau, Deputy Chairman and Chief Operating Officer, has stepped down from these executive roles and has been appointed as a Non-executive Director of the Company.

As at the date of this announcement, the Board comprises four executive Directors and five Non-executive Directors.

The Board is also in search of a new candidate to be appointed as an additional Independent Non-executive Director and will make a further announcement when appropriate.

Background information on KC Chong
“KC” Chong Khing Chung, aged 42, is the Group’s Chief Financial Officer. He joined the Group in May 2007 and is responsible for the Group’s financial planning, treasury, corporate finance and company secretarial matters. Prior to joining the Group, KC Chong garnered 20 years of experience in accountancy, stockbroking, plantation and electronics industry. He has worked with numerous publicly quoted companies in both Malaysia and Singapore in various capacities, including as chief financial officer, executive director and company secretary. He is currently serving on the Board of Borneo Aqua Harvest Berhad, a company listed on the Bursa Malaysia, as its independent non-executive director and chairman of its audit committee.
 
KC Chong is a Chartered Member of the Malaysian Institute of Accountants and a Certified Practising Accountant of CPA Australia. He is also an accredited company secretary under Section 139A(b) of the Malaysian Companies Act 1965. He obtained his bachelor’s degree in commerce from University of Western Australia in 1990.
 
Save as disclosed above, KC Chong does not and has not held any directorships or partnerships in any companies or partnerships in the five years preceding the date of this announcement.  KC Chong has entered into a service contract with the Company for a term of not more than three years (in common with the other Executive Directors of the Company) under which he will be entitled to remuneration (including a discretionary bonus) which will be determined by reference to his role and responsibilities in the Group.  KC Chong is not related to any Director, senior management or substantial or controlling shareholder of the Company.  At the date of this announcement, he is interested in options exercisable into 72,500 shares of the Company.
 
There are no other disclosures required to be made, pursuant to paragraph (g) of Schedule Two of the AIM Rules, in connection with KC Chong’s appointment to the RCG Board.

> 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 Joint Broker) 
Tel: +44 (0)20 7071 4300
Barry Saint 
Tim Redfern 
Esther Lee 
barry.saint@evosecurities.com

     
Media enquiries:

Abchurch Communications Limited 
Henry Harrison-Topham  /George Parker 
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.