other material
confidence high
sentiment neutral
materiality 0.90
Tianci International change of control: 73.18% stake sold for $525K; entire board/officers replaced
Tianci International, Inc.
- Chuah Su Mei sold all 1,793,000 shares (73.18%) to Silver Glory Group Limited for $525,000 cash; closed August 26, 2021.
- All prior directors and officers (Chuah Su Chen, Chuah Su Mei, Jerry Ooi) resigned effective upon closing.
- New CEO/CFO/Secretary/Director Zhigang Pei appointed, plus five new directors: Shufang Gao, David Wei Fang, Jack Fan Liu, Yee Man Yung, Jimmy Weiyu Zhu.
- New officers currently serve without compensation; compensatory arrangements to be determined.
- Silver Glory Group now holds controlling interest and can unilaterally determine board elections.