UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 4, 2022 (December 30, 2021)
VALUE EXCHANGE INTERNATIONAL, INC.
(Exact name of Registrant as specified in its charter)
| Nevada | 000-53537 | 26-3767331 | ||
| (State or other jurisdiction | (Commission File Number) | (IRS Employer | ||
| of Incorporation) | Identification No.) |
| Unit 602, Block B, 6 Floor, |
| Shatin Industrial Centre, 5-7 Yuen Shun Circuit, |
| Shatin, N.T., Hong Kong |
| (Address of principal executive offices) (Zip Code) |
| (852) 2950 4288 |
| (Registrant’s telephone number, including area code) |
| Not applicable |
| (Former name or former address, if changed since last report.) |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
| o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Securities registered pursuant to Section 12(b) of the Act:
| Title of Each Class | Trading Symbol | Exchange on which registered |
| NONE | ---- | ---- |
Item 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On December 30, 2021, Value Exchange International, Inc., a Nevada corporation, (“Company”) issued a press release announcing the previously, publicly reported appointment of Mr. Chan Heng Fai (also known as Chan Heng Fai (Ambrose)) as a non-executive director of the Company’s Board of Directors.
Attached as Exhibit 99.1 to this Current Report on Form 8-K is the above referenced press release. The information contained in Exhibit 99.1, attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended and shall not be deemed incorporated by reference in any filing with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended or the Securities Act of 1933, as amended whether made before or after the date hereof and irrespective of any general incorporation language in any filings.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
| Exhibit No. | Exhibit Description | |
|
99.1 |
December 30, 2021 Press Release by Value Exchange International, Inc. re: appointment of director |
|
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| VALUE EXCHANGE INTERNATIONAL, INC. | ||
| By: | /s/ Tan Seng Wee Kenneth | |
| Name: | Tan Seng Wee Kenneth (Kenneth Tan) | |
| Title: | President | |
| Date: | January 4, 2022 | |
EXHIBIT INDEX
| Exhibit No. | Exhibit Description | |
|
99.1 |
December 30, 2021 Press Release by Value Exchange International, Inc. re: appointment of director |
|
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
Exhibit 99.1
HONG KONG--(BUSINESS WIRE)-- Value Exchange International, Inc. (OTCQB: VEII)(Company), a provider of information technology services for businesses in China, Hong Kong, Singapore and Manila, announced today that Mr. Heng Fai Ambrose Chan, an experienced entrepreneur and businessperson, has joined the Company’s Board of Directors as a non-executive director.
“Mr. Chan has an extensive, impressive record of success in dynamic business development spanning decades,” said Tan Seng Wee Kenneth, Company’s President. “We’re excited to welcome him to Value Exchange’s board of directors. I know that we will benefit from his expertise and leadership.”
Mr. Chan is an accomplished global business veteran of over 45 years of successful track record. Mr Chan specializes in financial restructuring and corporate transformation to unlock value and unleash entrepreneurial zeal while managing risk. He has successfully restructured more than 35 corporations in diversified industries in different countries. Most notably, 5 out of the 35 restructured companies have combined market capitalization of over USD 18 billion and more importantly, they are bringing in annual net profits in excess of over USD 1.4 billion a year. Mr Chan’s passion for company transformation is shown through an average investment multiple of over 48X for each investment across the 5 companies. This is not including his first air chartering venture he started out during his college days.
Mr. Chan is: Executive Chairman and Executive Director of DSS, Inc., an NYSE listed company (NYSE: DSS); Executive Chairman of the Board, Executive Director and Chief Executive Officer of Alset EHome International Inc., a Nasdaq listed company (Nasdaq: AEI); Executive Chairman and Director of GigWorld, Inc., a U.S. public company; the Chief Executive Officer, Executive Director and Executive Chairman of Alset International Limited, a diversified holding company listed on the Catalist of the Singapore Exchange (SGX: 40V); Chairman and Director of LiquidValue Development Inc., a U.S. public company; a Director of OptimumBank Holdings, Inc.; and Chairman and Director Class II of Sharing Services Global Corporation, a U.S. OTC company.
Find out more about Mr Chan’s track record at: https://www.chf185.com/.
About Value Exchange: Value Exchange International, Inc. (“Company”) is a U.S. public holding company headquartered in Hong Kong, with offices in Shenzhen, Guangzhou, Shanghai, and Beijing China, Manila and Kuala Lumpur. Company provides integrating, market-leading Point-of-Sale/Point-of-Interaction (POS/POI), Merchandising, CRM & Reward, Locational Based (GPS & Indoor Positioning System (IPS)) Marketing, Customer Analytics, and Business Intelligence solutions. Company’s retail POS solutions process tens of millions of transactions per year at approximately 20,000 retail outlets in Asia.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20211230005236/en/
Value Exchange IR Contact: Johan Pehrson Email: ir@value-exch.com www.value-exch.com
(852) 2950 4288
Source: Value Exchange International, Inc.