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hrct.ob Hold Annual Shareholder Meeting on 22 August 2003
Monday June 16, 2:47 am ET
Higher Standard of Corporate Governance is Objective of Directors
LOS ANGELES, June 16 /PRNewswire-FirstCall/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT, Frankfurt: 900009), www.hartcourt.com , today announced that it has filed the Proxy Statement with the SEC that will also be distributed to all shareholders. The 2003 Annual Shareholder Meeting will be held on August 22nd, 2003 at 10 am at the Country Inn & Suites Hotel Orlando Airport located at 5440 Forbes Place, Orlando, Florida 32812.
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Shareholders with registered shares at Signature Stock Transfer will be sent a copy of the Proxy Statement directly. Those who hold shares under street names by brokerage firms should obtain the Proxies from their brokers. The Proxy Statement will also be available for download at Hartcourt Web site, www.hartcourt.com , or will be sent directly upon specific request.
The proposed candidates for the Board of Directors consist of 4 independent directors and 1 management officer. The main objective of the new Board is to implement stronger corporate governance for the company, beyond what is required by the Sarbanes-Oxley Act. The Board will concentrate on the 7 core areas of governance: discipline, transparency, independence, accountability, responsibility, fairness and social responsibility.
Mr. Goeffrey Wei, Director and Chairman of the Audit Committee, said, "We are strengthening the internal audit control and report of Hartcourt and all subsidiaries by doubling the number of auditors as well as implementing new accounting procedures and risk management system. It will ensure timely and accurate filings in the future for Hartcourt."
Mr. David Chen, Hartcourt's President and CEO, comments, "We are continuing to make important progress in our operation. Substantial improvements in revenue and profit thanks to past and future acquisitions will be recorded in our Q2 report. It's time we consolidate this financial performance on a solid foundation of corporate governance. We will manage Hartcourt according to the highest standard and tradition of a blue-chip company."
About Hartcourt
The Hartcourt Companies, Inc. is an investment holding and corporate development company focusing on the acquisition of private companies within high-growth industries in China. Hartcourt's business strategy is to bring together a group of complementary companies, add substantial value in terms of financial restructuring, strategic planning and corporate governance to enable these subsidiaries to fully realize the value of their assets and become public companies. Hartcourt has strategic investments and operating management control in 3 leading companies in the area of IT product marketing, retail, and distribution. Detailed information on Hartcourt can be obtained via the company's Web site: www.hartcourt.com .
Forward-looking statements
The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
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Source: The Hartcourt Companies, Inc.
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hat lange genug konsoldiert.news von heute,hoffe es geht nun nach norden.
Monday June 16, 2:47 am ET
Higher Standard of Corporate Governance is Objective of Directors
LOS ANGELES, June 16 /PRNewswire-FirstCall/ -- The Hartcourt Companies, Inc. (OTC Bulletin Board: HRCT, Frankfurt: 900009), www.hartcourt.com , today announced that it has filed the Proxy Statement with the SEC that will also be distributed to all shareholders. The 2003 Annual Shareholder Meeting will be held on August 22nd, 2003 at 10 am at the Country Inn & Suites Hotel Orlando Airport located at 5440 Forbes Place, Orlando, Florida 32812.
ADVERTISEMENT
Shareholders with registered shares at Signature Stock Transfer will be sent a copy of the Proxy Statement directly. Those who hold shares under street names by brokerage firms should obtain the Proxies from their brokers. The Proxy Statement will also be available for download at Hartcourt Web site, www.hartcourt.com , or will be sent directly upon specific request.
The proposed candidates for the Board of Directors consist of 4 independent directors and 1 management officer. The main objective of the new Board is to implement stronger corporate governance for the company, beyond what is required by the Sarbanes-Oxley Act. The Board will concentrate on the 7 core areas of governance: discipline, transparency, independence, accountability, responsibility, fairness and social responsibility.
Mr. Goeffrey Wei, Director and Chairman of the Audit Committee, said, "We are strengthening the internal audit control and report of Hartcourt and all subsidiaries by doubling the number of auditors as well as implementing new accounting procedures and risk management system. It will ensure timely and accurate filings in the future for Hartcourt."
Mr. David Chen, Hartcourt's President and CEO, comments, "We are continuing to make important progress in our operation. Substantial improvements in revenue and profit thanks to past and future acquisitions will be recorded in our Q2 report. It's time we consolidate this financial performance on a solid foundation of corporate governance. We will manage Hartcourt according to the highest standard and tradition of a blue-chip company."
About Hartcourt
The Hartcourt Companies, Inc. is an investment holding and corporate development company focusing on the acquisition of private companies within high-growth industries in China. Hartcourt's business strategy is to bring together a group of complementary companies, add substantial value in terms of financial restructuring, strategic planning and corporate governance to enable these subsidiaries to fully realize the value of their assets and become public companies. Hartcourt has strategic investments and operating management control in 3 leading companies in the area of IT product marketing, retail, and distribution. Detailed information on Hartcourt can be obtained via the company's Web site: www.hartcourt.com .
Forward-looking statements
The statements made in this press release, which are not historical facts, contain certain forward-looking statements concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement.
--------------------------------------------------
Source: The Hartcourt Companies, Inc.
Email this story - Set a News Alert
ADVERTISEMENTSpecial Offers
hat lange genug konsoldiert.news von heute,hoffe es geht nun nach norden.
