Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective on August 1, 2022, the board of directors (the "Board") of Takung Art
Co., Ltd (the "Company") appointed Mr. Kuangtao Wang, the current Co-Chief
Executive Officer of the Company, as the chairman of the Board, and appointed
Mr. Guisuo Lu as a new independent director of the Board. The biographical
information of Mr. Lu is set forth below.
Mr. Guisuo Lu has served as the financial consultant of Shandong Yuntong
Commercial Co., Ltd. since March 2020. From October 2013 to March 2020, Mr. Lu
served as vice president of Yinsheng Financial Group and Yinsheng Payment
Service Co., Ltd. From January 2005 to September 2013, Mr. Lu served in various
positions including assistant general manager, deputy general manager and
general manager at Terminal Service Center of Unionpay Commercial Co., Ltd.,
Hebei Branch. Mr. Lu graduated from Hebei Bank School in 1982 and graduated from
Hebei Radio and TV University Hengshui Branch in 1988.
Mr. Lu does not have a family relationship with any director or executive
officer of the Company and has not been involved in any transaction with the
Company during the past two years that would require disclosure under Item
404(a) of Regulation S-K.
Mr. Lu entered into a director offer letter (the "Offer Letter") with the
Company which establishes other terms and conditions governing his service to
the Company. The Offer Letter is qualified in its entirety by reference to the
complete text of the Offer Letter, which is filed hereto as Exhibit 10.1.
Exhibit
No. Description
10.1 Director Offer Letter, dated August 1, 2022, by and between Guisuo Lu
and Takung Art Co., Ltd
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