[ad_1]
New York- (Business Wire)–Allied Esports Entertainment, Inc. (NASDAQ: AESE) (the “Company”), a global esports entertainment company, announced today that the Company’s board of directors (the “Board”) has appointed Chen Yinghua as Chief Executive Officer. Ms. Chen used to be the President, Chief Investment Officer and Secretary of the Board of the Company. In view of Ms. Chen’s additional responsibilities, Ms. Chen will no longer serve as the company’s chief investment officer or board secretary, and will continue to serve as the president. Director of the company since 2020.
Ms. Chen assumes the role of Chief Executive Officer from Lyle Berman, who will serve as Co-Chairman of the Board and Interim Chief Executive Officer from February 2022. Mr. Berman retains his role as Co-Chairman of the Board of Directors and has been appointed Vice President of Mergers and Acquisitions, where he will focus more on the company’s mergers and acquisitions activities. Mr. Berman has been a director of the Company since May 2017.
Commenting on today’s announcement, Mr. Berman said: “I am delighted to pass the torch to Yinghua. As interim CEO and company director, I have had the opportunity to work closely with her and I believe she is leading Allied Esports Entertainment as we move forward. The ideal candidate to execute operations in the process.”
Mr. Berman continued: “Furthermore, we remain focused on investing significant cash on our balance sheet to acquire or merge existing businesses. Going forward, the board has asked me to focus my efforts on finding and executing as an AESE shareholder We continue to explore some potential acquisition opportunities; however, given current macroeconomic conditions, we are evaluating these opportunities very carefully.”
Ms. Chen said: “I am honored to serve as CEO of Allied Esports Entertainment and thank the board for this opportunity. Along with our very capable team, I look forward to helping guide our future success and maximizing shareholder value. ”
As previously announced, the company has retained Benchmark Company, LLC as its exclusive financial advisor in connection with the potential business combination transaction. Over the past few months, the company has reviewed a number of potential targeted investment opportunities, and due diligence and continued efforts to identify other opportunities are still in progress. The company is also exploring strategic options for its esports business. AESE intends to provide further updates in due course.
About United Esports Entertainment
Allied Esports Entertainment, Inc. (NASDAQ: AESE) is a global esports entertainment company dedicated to delivering transformative live experiences, multi-platform content and interactive services to audiences around the world.For more information, please visit alliedesports.gg.
forward-looking statements
This communication contains certain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may include our statements about our goals, beliefs, strategies, objectives, plans, including product and service development, future financial condition, results or forecasts or current expectations. In some cases, you can identify forward looking by terms such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “believe”, “estimate”, “forecast”, etc. sexual statement. “Potential,” “intends,” or “continues,” the negative of such terms, or other similar terms. These statements are subject to known and unknown risks, uncertainties, assumptions and other assumptions that could cause actual results to differ from forward-looking statements The results of the may cause actual results or results to differ materially from those discussed in these forward-looking statements. Important factors that could affect actual results or results include: our ability to meet NASDAQ’s continued listing criteria; our ability to execute our business plan ability; ability to retain key personnel; potential litigation; general economic and market conditions affecting demand for our services; our plans to use the net proceeds from the sale of the World Poker Tour business in 2021 to make one or more future acquisitions or strategic transactions changes in plans; and our ability or decision not to pursue strategic options for our esports business. You should consider areas of risk associated with any forward-looking statements that may be made herein. AESE’s business and operations are subject to significant risks, which increase the uncertainties inherent in the forward-looking statements contained in this communication. Except as required by law, we undertake no obligation to release publicly the results of any revisions to these forward-looking statements, which may be made to reflect events after the date hereof or circumstances or reflect the occurrence of unforeseen events. For more information on potential factors that could affect our business and results, see “Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on May 26, 2022, and in our subsequent reports filed with the SEC. Readers are also urged to carefully review and consider the various disclosures we make in such annual reports on Form 10-K and subsequent reports to the SEC.
[ad_2]
Source link