Hovers To Lead Commodore
02 August 2011 - 10:42PM
Business Wire
ASIARIM CORPORATION (OTC BQ: ARMC US) announced today that its
Board of Directors (the “Board”) accepted the resignations of Mr.
Te Hwai Ho (“Mr. Ho”), Mr. Donald So Yu Ruan (“Mr. Ruan”) and of
Ben van Wijhe (“Mr. Van Wijhe”) as directors of the corporation
with effect from July 21, 2011, July 21, 2011 and July 23, 2011
respectively. Mr. Ho, Mr. Ruan and Mr. Van Wijhe were replaced as
officers of the corporation. The corporation is very appreciative
of the valuable efforts of Mr. Ho, Mr. Ruan and Mr. Van Wijhe on
behalf of the corporation.
The aforementioned resignations were required to prepare the
collective closing, if any, of all transactions set forth in a
Restated Terms Sheet signed by Euro American S.A. and the
corporation on July 22, 2011 in relation to the intended
acquisition of the exclusive worldwide rights to a unique patented
video compression technology as earlier announced by the
corporation on May 26, 2011. The Board expects to close the
intended transactions within the next weeks.
Therefore, the corporation is very pleased to announce that Dr.
J. C. M. Hovers consented to be appointed to the Board and to lead
the preparation for closing which is expected during the next
weeks. With effect from July 24, 2011 Dr. Hovers is sole director
of the corporation and he was elected to the offices of Chairman,
President and Chief Executive Officer of the corporation on July
30, 2011.
Dr. Hovers stated: “I am excited to lead Commodore into the
future. The patented video compression technology intentionally to
be acquired by the corporation would enable to position Commodore
as front runners again.”
Dr. Hovers was the former President and CEO of Stork N.V., as
well as of OCE N.V., both Dutch stock listed corporations. Dr.
Hovers served as a member of the Supervisory Board of De
Nederlandsche Bank, the Dutch Central Bank, and Randstad Holding
N.V. He is currently Chairman of the Supervisory Boards of
respectively C1000 N.V., Royal Ten Cate N.V., SMEVA B.V., Plieger
B.V. and Teleconnect Inc. He is also a member of the Supervisory
Board of Randstad Holding Netherlands B.V. Dr. Hovers holds a Ph.D.
Econometrics from Tilburg University in The Netherlands.
On July 30, 2011, Mr. Eugène van Os (“Mr. Van Os”) was elected
to the offices of Treasurer, Chief Financial Officer and Secretary
of the Corporation. Prior to his election Mr. Van Os was the
managing director of the Corporation’s wholly-owned subsidiary
Commodore Licensing B.V. in The Netherlands.
Forward Looking Statements:
A number of statements contained in this Report are
forward-looking statements that are made pursuant to the Safe
Harbor Provisions of the Private Securities Litigation Reform Act
of 1995. Certain written statements in this press release
constitute "forward-looking statements" as defined under the
Private Securities Litigation Reform Act of 1995. Words or phrases
such as "should result," "are expected to," "we anticipate," "we
estimate," "we project," "we intend," or similar expressions are
intended to identify forward-looking statements. Such statements
should not be construed as an invitation to participate in an
offering of shares in the capital of the Company or a confirmation
that an offering will indeed occur. These statements are subject to
certain risks and uncertainties that could cause actual results to
differ materially from those expressed in any forward-looking
statements. These risks and uncertainties include demand for our
services, product development, our ability to maintain acceptable
margins and control costs, the impact of federal, state and local
regulatory requirements on our business, the impact of competition
and the uncertainty of economic conditions in general, including
the timely development and market acceptance of products,
competitive market conditions, successful integration of
acquisitions, the ability to secure additional sources of
financing, the ability to reduce operating expenses, and other
factors. The actual results that the Company achieves may differ
materially from any forward-looking statements due to such risks
and uncertainties. Readers are cautioned not to place undue
reliance on forward-looking statements, since the statements speak
only as of the date that they are made, and we undertake no
obligation to publicly update these statements based on events that
may occur after the date of this document.
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