Tramford (NASDAQ:TRFDF)
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Tramford Announces Appointment of New Chief Executive
Officer
HONG KONG, March 29 /Xinhua-PRNewswire-FirstCall/ -- Tramford International
Limited (NASDAQ:TRFDF) ("Tramford" or the "Company") announced today the
appointment of Mr. Jeff Qian to replace Mr. Jiang Xin Hao as the Company's
Chief Executive Officer and Executive Director pursuant to a resolution passed
in the Company's board meeting held on March 29, 2005.
Resignation of Jiang Xin Hao and Appointment of Jeff Qian
On March 29, 2005, Mr. Jiang Xin Hao tendered his resignation from the Chief
Executive Officer and Executive Director of the Company and was accepted by the
Board. Mr. Jeff Qian was then nominated and was approved by the Company's
Board to fill the vacancies. The Company confirmed that there is no matter
that needed to be brought to the attention of shareholders of the Company in
relation to Mr. Jiang's resignation. The Board of Directors took this
opportunity to express their appreciation for Mr. Jiang's valuable contribution
to the Company.
Mr. Jeff Qian graduated from the Economics and Management College of the
Beijing Industrial University with a bachelor degree in Economics in 1986. From
1986 to 1993, he worked as an economic analyst in the Statistics Bureau of the
Beijing People's Municipal Government (the "BPMG"). From 1993 to 1996, he
worked as independent auditors in Hong Kong and from 1996 to 1998, he worked as
the Project Chief Financial Officer of the TA Orient Telecommunication Co.,
Ltd. Since 1998, he worked as the Finance Manager of Beijing Holdings Limited
("BHL"), the 63.41% shareholder of the Company, and prior to his service with
the Company, he was the Chief Financial Officer of BHL. Mr. Qian has extensive
experience in merger and acquisition, corporate restructuring and financial
management.
"The remarkable economic growth of China leading to prosperous development of
technology industries here." said Jeff, "Tramford had experienced years of
steady operations and is financially capable of supporting a new development
path, such as new acquisitions." "The new board and the new management will
explore new technology related opportunities in the Greater China region to
ensure our ability of sustaining growth in the future." "Our target is simple
all the time, it's the maximization of the shareholders' value."
Following the changes, the directors of the Company as at the date of this
announcement were as follows:
Executive Directors:
Zhao Chang Shan, Jeff Qian, Michael Siu
Independent Directors
Zhu Xiao Hui, Yu Xiang Dong, L. C. Wan
About Tramford and BHL
Tramford, through its subsidiaries, is engaged in network security and related
software development businesses. The major customers include large enterprises
and government bureaus. BHL, its major shareholder, is the solely established
window company of the BPMG in Hong Kong. Its business portfolio includes
infrastructures, public utilities, food and beverages, consumer products,
information technology and bio-pharmaceutical. Including Tramford, it has six
listed companies and is also substantial shareholder of many large scaled
enterprises in China.
Some of the statements contained in this announcement contain forward- looking
information within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are found in paragraphs in which the future
prospects of the Company are discussed. You can identify these statements by
forward-looking terminology such as "anticipate", "expect", "believe", "goal",
"plan", "intend", "estimate", "may", "can", "could", "will" and "would" or
similar words. These forward-looking statements involve known and unknown
risks, uncertainties and other factors, including those that could cause our
actual results to differ materially from those anticipated in these
forward-looking statements. You should consider these factors carefully in
evaluating any forward-looking statements and should not place any undue
reliance on any forward-looking statement. You should keep in mind that any
forward-looking statement made by us in this announcement speaks only as of the
date on which we made it. New risks and uncertainties come up from time to
time, and it is impossible for us to predict these events or how they may
affect us. We are under no obligation to, and do not intend, to update or
revise our forward-looking statements made herein to reflect actual results or
changes in assumptions or other factors that could affect those statements.
Contact:
Tramford International Limited
Michael Siu
Tel: +852-2105-6253
Email:
DATASOURCE: Tramford International Limited
CONTACT: Michael Siu of Tramford International Limited, +852-2105-6253,
or