MySQUAR Limited Appointment of COO and Board Changes (6786W)

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RNS Number : 6786W

MySQUAR Limited

16 November 2017

16 November 2017

MySQUAR Limited ("MySQUAR" or the "Company")

Appointment of COO and Board Changes

MySQUAR, the Myanmar-language social media, entertainment and payments platform whose principal activity is to design, develop and commercialise Myanmar-focused internet-based mobile applications, is pleased to announce the appointment of Stephen Chong as COO, a non-main board role, effective immediately. Mr. Chong will assume responsibility for the licensing, development, marketing and daily operations of the mobile game, apps, news media, mobile commerce and fintech divisions and report to Eric Schaer, CEO of MySQUAR.

The Company also announces that Ross Marsh, a non-executive director of the Company, has stepped down from the board of directors. No further board appointments will be made at present.

Appointment of COO

Stephen Chong brings over 25 years of experience setting-up, managing and structuring companies in the manufacturing, technology and services sectors. He has been based in various locations including Asia, Australia and Europe. Experience gained in past appointments include establishing and managing overseas operations for multi-national and Singapore based companies including Singapore Technologies Automotive Pte Ltd., JIT Electronics Co. Ltd., Flextronics Plastic Co. Ltd. & Hyflux Ltd. Mr. Chong was also Executive Director at Raffles Education Corporation Ltd., the largest for-profit education provider in the Asia-Pacific region which is listed on the Singapore Stock Exchange where he was responsible for the Group's Corporate Finance, Enterprise Risk Management & IT functions, M&A activities, new start-ups, the restructuring of unprofitable entities and all ex-China operations.

He is currently on the Board of several Singapore & Asian based SMEs and has been helping such companies grow by providing M&A expertise, access to debt & equity financing and operations management.

Mr. Chong holds a BE(Civil) from the Royal Military College (UNSW), Australia, is a graduate of the Royal Military College of Science (Shrivenham), UK, has a GDFM from the Singapore Institute of Management and a MSc(Finance) from City University of New York.

Board Changes

Ross Marsh, a non-executive director, has stepped down from the board of directors with immediate effect to concentrate on other business interests. His duties as Chair of the Company's Audit and AIM Compliance committees will be taken over by existing non-executive director, Neil Osborn.

MySQUAR's CEO, Eric Schaer, said: "Stephen is a seasoned and trusted executive who consistently delivers results. His commitment to strategic and operational discipline will drive the Company's priorities towards enhanced monetisation. I have tremendous confidence in Stephen's ability to build on MySQUAR's competitive advantages and extend our market leadership as a media and entertainment platform in Myanmar. The Board would also like to wish Ross well in his future endeavors and appreciates his contributions over the last two years on the board."

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

For further information:

 
MySQUAR Limited 
Eric Schaer (Chief Executive)  Tel: [phone] 
Pham Dang Hung (CFO) 
 
SP Angel Corporate Finance 
 LLP 
Nominated Adviser              Tel: [phone] 
                                0470 
Stuart Gledhill/Soltan Tagiev 
Beaufort Securities Limited    Tel: [phone] 
 Broker                         8300 
 Jon Belliss/Elliot Hance 
Public Relations               Tel: [phone] 
 Damien McCrystal               0758 
                                [e-mail] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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November 16, 2017 02:01 ET (07:01 GMT)