- Investment company Mariner (MCX) has announced a number of changes and appointments to its Board of Directors
- Liping Cai and Kaiman Wong have been appointed to the Board, while Phillip Barclay has resigned from the Board
- Cai and Wong have agreed to accept no salary, allowing Mariner to preserve its cash position
- In other news, the company has secured two clients, which it will provide consulting services to in 2021
- Mariner closed in the grey to trade for three cents per share
Investment company Mariner (MCX) has announced a number of changes and appointments to its Board of Directors.
Firstly, the company has appointed Liping Cai as Executive Chairman of the Board. Liping is an experienced entrepreneur with an extensive background in financial investment.
Mariner has also appointed Kaiman Wong as Managing Director of the Board. Kaiman has been instrumental in streamlining the company’s operations while it has been navigating various challenges posed by the COVID-19 pandemic.
In order to help Mariner preserve its cash position, both Cai and Wong have agreed to accept no salary for their new roles. However, Wong’s remuneration for his services as a company Director will remain unchanged.
Phillip Barclay, a Non-Executive Director of the company, has resigned from the Board of Directors. After announcing his resignation, the Board thanked Phillip for his dedication and service throughout his tenure, and wished him well for the future.
In other news, Mariner has secured two new clients, which the company will provide consulting services to on an ongoing basis. The company described this as an encouraging reflection of outcomes from recent efforts to increase coverage of pre-investment opportunities.
“The revenue generated from these clients will not be material, however, it bodes well for the company as it continues to progress a number of discussions with local and overseas firms on revenue opportunities,” the Board said.
“The company has a busy pipeline of opportunities to progress into 2021, and will continue efforts, with a renewed Board and management, of identifying and implementing cost-effective growth opportunities as a diversified investments company,” the Board added.
Mariner closed in the grey to trade for three cents per share.