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| To Reflect Its New Business Direction |
HONG KONG, Jan 23, 2014 - (ACN Newswire) - China Motion Telecom International Limited ("China Motion Telecom" or the "Group;" stock code: 989) is pleased to announce that the resolution proposing the change of company name to "Ground Properties Company Limited" was approved at today's special general meeting. The change comes on the heels of a share offer completed on 26 November 2013 and the management team's reorganisation in November 2013. The new name better reflects its development direction in the future and takes effect from the date of entry of the new company name on the register maintained by the Registrar of Companies in Bermuda.
In November 2013, the Group appointed a new top management team, including Ms Chai Xiu, Mr Chen Luhui, Mr Cong Hongsong, Mr Chan Yuk Tong, Mr Mei Jianping and Ms Nie Meisheng who have also joined the board of directors. The new management team has abundant experience in property industry and property management. Ms Chai Xiu, Chairman and Chief Executive Officer of the Group, holds 54.93% of China Motion Telecom's issued share capital through Charm Success Group Limited, her beneficially owned company. Ms Chai has more than 20 years of management experience primarily in the property and dairy product industries within the PRC.
Ms Chai Xiu, Chairman and Chief Executive Officer of China Motion Telecom, said, "The change of our company name will better reflect the future business focus of the Group in property development with a fresh corporate image. This move is in the interest of the Group and the shareholders as a whole, and opens a new chapter in the Group's development. Looking ahead, capitalising on the rich experience of our management team, we will continue to explore more business opportunities with the aim to deliver promising returns on the investment of our shareholders."
Contact:
Strategic Financial Relation Limited
Joanne Lam, +852 2864 4816, joanne.lam@sprg.com.hk
Jovanni Cai, +852 2114 4937, jovanni.cai@sprg.com.hk
Miranda Xie, +852 2864 4862, miranda.xie@sprg.com.hk
Fax: +852 2527 1196 / 2804 2789
www.sprg.com.hk
Topic: Press release summary
Source: Ground International Development Limited
Sectors: Media & Marketing, Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network
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