24th Nov 2015 10:02
LONDON (Alliance News) - Asia Pacific-focused online gaming and media company PCG Entertainment PLC said on Tuesday that Chairman Kung Min Lin has stepped down from his role and will be replaced by his deputy.
Lin has stepped down with immediate effect due to an increased work since he took over as the chief executive of MoneySwap PLC, the Chinese payments company. Lin took over the chief executive role earlier this month, having previously been the company's chairman.
Richard Poulden, deputy chairman of PCG, has been appointed as its new chairman.
The company said revenue in its third quarter rose to USD6 million, following its purchase of Center Point Development Corp for USD10.0 million in June.
Shares in PCG were down 17% to 1.25 pence on Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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