Treasure Global Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 14, 2024, Michael Chan Meng Chun informed Treasure Global Inc (the “Company”) of his resignation as Chief Financial Officer, which was immediately effective.
On June 14, 2024, the Board of Directors of the Company appointed Chin Sook Lee as Chief Financial Officer of the Company effective as of June 14, 2024.
Ms. Chin, age 35, is currently serving as the Financial Controller of the Company since 2024. She has over 12 years of experience in accounts and finance departments across multiple industries, including investment holding, advertising and marketing and medical. Prior to joining the Company, Ms. Chin was a Finance Manager at Clinical Research Malaysia from 2021 until 2024, where she was responsible for reporting, tax and accounting functions, annual budget and monitoring of company performance against its annual budget and lead and managed team members for accounting matters. From 2019 until 2021, Ms. Chin was a Finance and Admin Manager at Freeform Untitled Sdn Bhd., where she prepared monthly management accounts and cash flow projections and liaised and coordinated with external auditors, tax consultants and executives of the company. Ms. Chin graduated from Sunway College in 2014 and subsequently became a Chartered Accountant in 2015. Ms. Chin is a Fellow member of the Association of Chartered Certified Accountants and a member of the Malaysian Institute of Accountants.
Chin Sook Lee and the Company entered into the Executive Employment Agreement dated as of June 14, 2024 (the “Employment Agreement”), pursuant to which Ms. Chin was appointed as the Chief Financial Officer of the Company. The term of the Employment Agreement is for one year of which term is renewable on a yearly basis. Ms. Chin is entitled to receive a basic monthly salary of RM 18,000. In addition, Ms. Chin will be entitled to a total of $80,000 worth of shares of common stock of the Company on an annual basis for the first year, of which $6,666.67 worth of shares of common stock of the Company shall be issued to Ms. Chin at the end of each month during her first year of employment, and the share compensation for the subsequent year(s) will be based on the year’s performance. During the term of the Employment Agreement, either party may terminate the Employment Agreement by providing two (2) months’ written notice or salary in lieu of such notice to the other party. Upon termination of employment, Ms. Chin will be subject to a one year non-solicitation period with regard to the hiring of employees of the Company and soliciting clients of the Company, among other things.
The foregoing summary of the Employment Agreement does not purport to be complete and is subject to, and qualified in its entirety by, such document attached as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| Exhibit | Description | |
| 10.1 | Executive Employment Agreement dated as of June 14, 2024, by and between Treasure Global Inc and Chin Sook Lee | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: June 17, 2024 | TREASURE GLOBAL INC | |
| By: | /s/ Carlson Thow | |
| Name: | Carlson Thow | |
| Title: | Chief Executive Officer | |
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