Avic Group increases board to seven; Appoints Deloitte & Touche as auditor.NEW YORK--(BUSINESS WIRE)--Dec. 13, 1996-- Chairman buys 162,500 shares, raising holdings to 272,500 shares AVIC AVIC Aviation Industry Corporation (China) AVIC Area Veterinarian in Charge AVIC Army Visual Information Center AVIC Avi Codec Group International, Inc. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. : AV) announced today that it has elected Executive Vice President - Operations and Chief Financial Officer Michael Lim to its board of Directors, increasing board membership to seven. Mr. Lim is a former Vice President at Bear Stearns The Bear Stearns Companies, Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., one of the largest global investment banks and securities trading and brokerage firms in the world. Asia in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , where he focused on infrastructure financing in Asia. AVIC Group also announced the appointment of the international financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firm of Deloitte & Touche as its auditor. Chairman and Chief Executive Officer Joseph R. Wright stated "We chose Deloitte for their solid reputation and strong presence in China, and because we believe they have the necessary expertise to audit AVIC's Chinese joint venture interests. We are pleased to add Deloitte to our team, which now includes financial advisors Merrill Lynch, Patricof & Co. and Wasserstein Perella, and legal advisors Gibson Dunn & Crutcher and Haiwen Partners in Beijing." AVIC Group reported that Chairman Wright has substantially increased his holdings of AVIC stock with a recent purchase of an additional 162,500 restricted shares from the company at full market value without discount. Wright's holdings now total 272,500 shares and 3 million fully vested options. AVIC Group International, Inc. develops telecommunications and information systems in the People's Republic of China, including cellular, paging and fixed-wire telephony. CONTACT: Company Contact: Cheryl Bell, Director of Investor Relations Investor relations The process by which the corporation communicates with its investors. (212) 319-9160 or Media Contact: Warren J. Cavior The Cavior Organization (212) 687-6070 / caviorg@aol.com |
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