FRMO Corp. Appoints R. Rimmy Malhotra to Board of Directors
FRMO Corp has expanded its Board of Directors to nine members with the appointment of R. Rimmy Malhotra. The board now consists of nine directors, including five independent members. Malhotra, who serves as Managing Member and Portfolio Manager for Nicoya Fund LP, brings extensive experience in investment management. He previously managed the Gratio Values Fund and currently serves on the boards of HireQuest Inc and Optex System. The appointment comes as FRMO focuses on expanding and integrating several strategic investments approaching critical mass.
FRMO Corp ha ampliato il proprio Consiglio di Amministrazione a nove membri con la nomina di R. Rimmy Malhotra. Il consiglio ora è composto da nove direttori, di cui cinque membri indipendenti. Malhotra, che ricopre la carica di Managing Member e Portfolio Manager per Nicoya Fund LP, porta con sé una vasta esperienza nella gestione degli investimenti. In precedenza ha gestito il Gratio Values Fund e attualmente fa parte dei consigli di amministrazione di HireQuest Inc e Optex System. Questa nomina avviene mentre FRMO si concentra sull'espansione e l'integrazione di diversi investimenti strategici che stanno raggiungendo una massa critica.
FRMO Corp ha expandido su Junta Directiva a nueve miembros con el nombramiento de R. Rimmy Malhotra. La junta ahora consta de nueve directores, incluidos cinco miembros independientes. Malhotra, quien se desempeña como Managing Member y Portfolio Manager para Nicoya Fund LP, aporta una amplia experiencia en gestión de inversiones. Anteriormente, gestionó el Gratio Values Fund y actualmente forma parte de las juntas de HireQuest Inc y Optex System. El nombramiento se produce mientras FRMO se centra en expandir e integrar varias inversiones estratégicas que están alcanzando una masa crítica.
FRMO Corp는 R. Rimmy Malhotra의 임명으로 이사회를 아홉 명으로 확장했습니다. 이제 이사회는 아홉 명의 이사로 구성되어 있으며, 그 중 다섯 명은 독립 이사입니다. Malhotra는 Nicoya Fund LP의 관리 멤버이자 포트폴리오 매니저로서 투자 관리에 대한 풍부한 경험을 가지고 있습니다. 그는 이전에 Gratio Values Fund를 관리했으며 현재 HireQuest Inc와 Optex System의 이사회에도 재직하고 있습니다. 이 임명은 FRMO가 여러 전략적 투자 확장 및 통합에 집중하는 가운데 이루어졌습니다.
FRMO Corp a élargi son Conseil d'Administration à neuf membres avec la nomination de R. Rimmy Malhotra. Le conseil se compose désormais de neuf administrateurs, dont cinq membres indépendants. Malhotra, qui occupe le poste de Managing Member et Portfolio Manager pour Nicoya Fund LP, apporte une vaste expérience en gestion d'investissements. Auparavant, il a géré le Gratio Values Fund et siège actuellement aux conseils d'administration de HireQuest Inc et Optex System. Cette nomination intervient alors que FRMO se concentre sur l'expansion et l'intégration de plusieurs investissements stratégiques atteignant une masse critique.
FRMO Corp hat seinen Vorstand auf neun Mitglieder erweitert, mit der Ernennung von R. Rimmy Malhotra. Der Vorstand besteht nun aus neun Direktoren, darunter fünf unabhängige Mitglieder. Malhotra, der als Managing Member und Portfolio-Manager für den Nicoya Fund LP tätig ist, bringt umfangreiche Erfahrung im Investmentmanagement mit. Zuvor verwaltete er den Gratio Values Fund und sitzt derzeit in den Vorständen von HireQuest Inc und Optex System. Die Ernennung erfolgt, während FRMO sich auf die Erweiterung und Integration mehrerer strategischer Investitionen konzentriert, die eine kritische Masse erreichen.
- Board expansion increases independent director representation to five members
- Addition of experienced investment professional with portfolio management background
- Strategic timing coincides with company's focus on expanding investments
- None.
With the appointment of Mr. Malhotra, FRMO Corp. has nine directors on its Board of Directors, of which five are independent.
“We are very pleased to welcome Rimmy Malhotra to the Board,” stated Murray Stahl, FRMO Corp.’s Chairman and Chief Executive Officer. “As we continue to focus our attention on expanding and integrating a number of our strategic investments that are now approaching critical mass, FRMO Corp. will benefit tremendously from Rimmy’s unique perspectives and extensive experience.”
Malhotra commented, “FRMO is at an exciting juncture. I am thrilled to be joining the board and contributing to the Company’s future success.”
R. Rimmy Malhotra, serves as the Managing Member and Portfolio Manager for the Nicoya Fund LP, a private investment partnership. Previously, he served as portfolio manager of the Gratio Values Fund, a mutual fund registered under the Investment Act of 1940. He currently serves on the boards of HireQuest Inc (Nasdaq:HQI) and Optex System (Nasdaq:OPXS). He earned an MBA in Finance from The Wharton School and a Masters degree in International Relations from the School of Arts & Sciences both at the University of
About FRMO Corp.
FRMO Corp. invests in and receives revenues based upon consulting and advisory fee interests in the asset management sector.
FRMO had 44,022,781 shares of common stock outstanding as of August 31, 2024.
For more information, visit our website at www.frmocorp.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Words like “believe,” “expect” and “anticipate” mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, the general economics of the financial industry, our ability to finance growth, our ability to identify and close acquisitions on terms favorable to the Company, and a sustainable market.
Further information on our risk factors is contained in our quarterly and annual reports as filed on our website www.frmocorp.com and on www.otcmarkets.com/stock/FRMO/filings.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241104733577/en/
Thérèse Byars
Corporate Secretary
Email: tbyars@frmocorp.com
Telephone: 646-495-7337
www.frmocorp.com
Source: FRMO Corp.
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