Tencent Music Entertainment Group Announces Appointment of New Independent Director

Rhea-AI Summary

Tencent Music Entertainment Group (TME) announced the appointment of Adrian Yau Kee Mak as an independent director on October 26, 2020. Mr. Mak, who has extensive experience in finance, will also serve on the Audit Committee. He has held significant roles, including CFO at Television Broadcasts Limited and previously at other firms. TME's Chairman expressed confidence in Mr. Mak's ability to enhance business strategy and compliance. This appointment is seen as a step towards strengthening the board with valuable insights from a seasoned finance leader.

Positive

• Appointment of Adrian Yau Kee Mak as an independent director increases board expertise.
• Mr. Mak's extensive finance background may enhance TME's compliance and business strategy.

Negative

• None.

SHENZHEN, China, Oct. 26, 2020 /PRNewswire/ -- Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE: TME), the leading online music entertainment platform in China, today announced that Mr. Adrian Yau Kee Mak has been appointed as an independent director on the Company's board of directors (the "Board") under relevant U.S. securities law and NYSE rules, effective October 26, 2020.  Mr. Mak will serve as a member of the Audit Committee of the Board.

Mr. Mak joined Television Broadcasts Limited (HKEX: 00511) in 2004 where he currently serves as the Chief Financial Officer, the company secretary and a member of its Investment Committee. Prior to that, Mr. Mak was the Chief Financial Officer of Global Digital Creations Holdings Limited (HKEX: 08271) and the Chief Financial Officer of CyberCity Holdings Limited. Before entering the corporate sector, he was Associate Director of Corporate Finance of the Securities and Futures Commission in Hong Kong, focusing on takeovers, mergers, listing policy and market development. He has also qualified as a Chartered Accountant with KPMG in the UK.

Mr. Mak received his B.Sc. (Hons) in Chemical Engineering from the University of Birmingham in 1983. He is a fellow of the Institute of Chartered Accountants in England and Wales (FCA), the Hong Kong Institute of Certified Public Accountants (FCPA), and the Hong Kong Investor Relations Association.

"We are honored to have Adrian joining us as an independent director," said Tao Sang Tong, Chairman of TME. "He is a highly accomplished and widely respected leader in finance with extensive experience in corporate and regulatory authority.  We are confident that he will provide valuable perspectives on the business strategy and on compliance for TME. We are excited that Adrian is joining TME's board and look forward to his participation and contributions."

About Tencent Music Entertainment

Tencent Music Entertainment Group (NYSE: TME) is the leading online music entertainment platform in China, operating the country's highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. Tencent Music's mission is to use technology to elevate the role of music in people's lives by enabling them to create, enjoy, share and interact with music. Tencent Music's platform comprises online music, online karaoke and music-centric live streaming services, enabling music fans to discover, listen, sing, watch, perform and socialize around music. For more information, please visit ir.tencentmusic.com.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact
Tencent Music Entertainment Group
ir@tencentmusic.com  
+86 (755) 8601-3388 ext. 883606

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SOURCE Tencent Music Entertainment Group

FAQ

Who is the new independent director appointed by Tencent Music (TME)?

Adrian Yau Kee Mak was appointed as an independent director on October 26, 2020.

What experience does Adrian Yau Kee Mak bring to Tencent Music (TME)?

He has extensive experience in finance, previously serving as CFO at Television Broadcasts Limited and other companies.

What role will Adrian Yau Kee Mak have at Tencent Music (TME)?

He will serve on TME's board and as a member of the Audit Committee.

Why is Adrian Yau Kee Mak's appointment important for Tencent Music (TME)?

His background in finance and corporate governance is expected to strengthen the board's oversight and strategic direction.