Here are the ones that make me have hope for a brighter future.
As a step to the Plan of Arrangement a new board of directors of Banro has now been appointed. The new Banro board of directors is comprised of Jiongjie Lu (an incumbent director and the director acceptable to RFW), Robert L. Rauch (the director acceptable to Gramercy), John Clarke (an incumbent director and the Chief Executive Officer and President of Banro) and the following individuals acceptable to all of the Requisite Consenting Parties: Richard Brissenden (an incumbent director), Derrick Weyrauch (an incumbent director), Peter Cowley (an incumbent director), Robert Alexander Rorrison and Michael Hankin Li. Below is some biographical information regarding non-incumbent directors:
Michael Hankin Li - Mr. Li has more than 20 years of experience in finance and accounting, capital-raising, mergers and acquisitions, restructuring and international business development. He was the head of corporate finance of GCL-Poly Energy Holdings Limited, a company listed on the Hong Kong Stock Exchange; and was previously general manager of investor relations & mergers and acquisitions at Newton Resources Limited, also a company listed on the Hong Kong Stock Exchange. Mr. Li has worked at several international banks, where he led numerous capital raising exercises in Hong Kong and the United States. During the period between March 1994 and June 2004, he was the executive director, Corporate Finance, at BNP Paribas Capital (Asia Pacific) Limited. From July 2004 to December 2005, Mr. Li was employed at GoldBond Capital (Asia) Limited and was a managing director, investment banking, at Rothschild (Hong Kong) Limited during the period March 2007 to May 2011. Mr. Li obtained a bachelor’s degree in accountancy from California State University, Los Angeles in June 1985, and a Master of Business Administration degree from Columbia University in May 1992. He is also an independent non-executive Director of COFCO Meat Holdings Limited, a company listed on the Hong Kong Stock Exchange.
Robert L. Rauch - Mr. Rauch is a Senior Partner and Portfolio Manager at Gramercy, a fund manager with US$6 billion of assets specializing in corporate and sovereign investments in global emerging markets. He has 37 years of finance experience and serves as portfolio manager for Gramercy’s distressed and other corporate debt strategies, where he has been, or is currently involved, as a leading creditor in the restructuring of dozens of companies across emerging markets. He is currently a member of the board of directors of Credivalores-Crediservicios SAS in Colombia as well as two not-for-profit organizations. Prior to joining Gramercy at the end of 2000, Mr. Rauch worked with several investment and commercial banks in various areas of international finance. He received his graduate degree in Finance and International Business from Northwestern University and his undergraduate degree in Political Economy from Williams College.
Robert Alexander Rorrison - Mr. Rorrison is controlling shareholder and Managing Director of Chengyu Group Limited, a private company in Hong Kong. He is also Chairman Asia for Peloton Global, a financial services group with operations in Australia and Asia. Mr. Rorrison worked for Macquarie Group and its affiliates from April 1990 to March 2015, specializing in natural resources sectors, including metals and mining, oil & gas and agriculture. He was an Executive Director of Macquarie Group for 10 years, finishing his tenure as Chairman of Resources, Asia with responsibility for the natural resources investment banking function for ten jurisdictions, including Japan, Korea, China, India and Hong Kong. Mr. Rorrison has held positions with various industry, professional and regulatory authorities during his career, including as a member of the National Listing Committee and Listing Appeals Committee of the Australian Stock Exchange and as a Board member of the South Australian Jockey Club. Mr. Rorrison obtained his Bachelor of Economics from University of Adelaide in May 1982 in Australia. He was granted the Degree of Fellow of the Institute of Chartered Accountants in Australia in August 1995.
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