Monday, December 20, 2010

Some life in China Green Material Technologies (CAGM)

Today there was a big buyer in China Green Material Technologies (CAGM) who drove the price to $2.30.

And no I am not the buyer, because I have them already.

Maybe the news that they appointed a new independent director caused the price increase of 100%.  

China Green Material Technologies, Inc. Appoints New Independent Director Johnson Lau

HARBIN, China, Dec. 20, 2010 /PRNewswire-Asia-FirstCall/ -- China Green Material Technologies, Inc. (OTC Bulletin Board: CAGM), a Chinese leader in developing and manufacturing starch-based biodegradable containers, tableware and packaging materials, today announced the appointment of Johnson Lau as independent director for the Company. Mr. Lau will replace Yi (Jenny) Liu, who has resigned due to personal reasons.

Ms. Liu served as independent director since June 2010. Following her resignation, China Green Material's board of directors has appointed Mr. Lau as independent director, chairman of the nominating committee, and as a member of the audit committee and compensation committee.

Mr. Su Zhonghao, Chief Executive Officer of China Green Material Technologies stated, "On behalf of our board and management team, I would like to thank Jenny for her service and contributions over the past several months. We welcome Johnson to the board and are very pleased to have someone of his caliber and financial skill set serve as independent director. We believe Johnson's experience will be instrumental as we continue to grow and introduce new branded products in the rapidly growing biodegradable products market in China."

Mr. Lau has over 14 years of financial experience in public companies and Big Four accounting firms, and is currently Director of Finance for AutoChina International Limited, and serves on the Board of Directors for Lizhan Environmental Corporation. Previously he was CFO and a Director at Haike Chemical Group Ltd. Mr. Lau has also worked at Deloitte Touche Tohmatsu, and has been a Certified Public Accountant since 1999. He holds a Bachelor of Commerce degree from Monash University in Melbourne, Australia.


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