Press Release Source: China Cable and Communication, Inc.
China Cable and Communication Management Team Brings Many Years of Executive Experience to the Newly Named Company
Tuesday July 29, 11:06 am ET
HONG KONG, July 29 /PRNewswire-FirstCall/ -- China Cable and Communication, Inc. (OTC Bulletin Board: CCCI - News), which recently changed its corporate name and trading symbol to more accurately reflect its business focus, today announced that it has put in place a new management team whose years of collective experience will help take the company to its next level of development.
Through Solar Touch, its British Virgin Island incorporated subsidiary, China Cable and Communication is the first and the only foreign investor approved by China's national authority for the broadcasting industry, the State Administration for Radio, Film and Television, to own interest in, and provide operational management support to, existing cable television networks in the People's Republic of China.
Unlike prior Sino-Foreign cable joint ventures that provide complementary broadband or Internet services to television stations, CCCI owns a 49% interest in, and has three of seven seats on the Board of Directors of, Baoding Pascali Cable Television, a major backbone cable TV network in China's Hebei Province. It currently offers 39 channels within Baoding, and eight channels to the Greater Baoding metropolitan area. By year's end, it anticipates offering other value added services such as broadband Internet access, virtual private network and bulk data transmission services.
Heading the company's Board of Directors is Gareth Tang, who also serves as Chief Financial Officer. Raymond Kwan, also a Board member, serves as the company's Chief Executive Officer.
Tang has more than 17 years of experience in accounting, corporate finance and management of various U.S., Australian and Hong Kong listed companies. A fellow member of both the Hong Kong Society of Accountants and the Association of Chartered Certified Accountants (UK), Tang also holds a Bachelor Degree in Social Sciences with a major in management studies from the University of Hong Kong.
Kwan has more than 16 years of experience in strategic planning, product marketing and management. A summa cum laude graduate with degrees in accounting and mathematics from Regis University in Denver, Colorado.
Fellow China Cable and Communication members of its Board of Directors include Jun-Tang Zhao and George Raney.
Zhao has more than 10 years of experience in finance, management, working with corporate and international banking businesses in the People's Republic of China (PRC). He is a certified public accountant in the PRC, and graduated from the Central Television University there, majoring in financial accounting.
Los Angeles-based George Raney has more than 15 years experience in corporate finance and corporate development, primarily in the United States. He received his B.A. in Economics from The Ohio State University, and his M.B.A. in Finance and International Business from the University of Michigan. Earlier, at Millennium Capital Partners, he specialized in securing private placements and sourcing strategic U.S. acquisitions for Chinese clients.
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date thereof. Readers should carefully review the risks described in other documents the company files from time to time with the Securities and Exchange Commission, including the Annual Report on Form 10-KSB for the fiscal year ended October 31, 2002, as well as the Quarterly Reports and Current Reports on Form 8-K by the company.
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Source: China Cable and Communication, Inc.
