Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 22, 2020, Board of Directors (the "Board") of Document Security
Systems, Inc., a New York corporation (the Company") approved an increase of the
Board size from seven to eight members and appointed Mr. Chan Tung Moe to fill
the vacancy created by the increase in the Board size.
Mr. Chan Tung Moe currently serves as Group Chief Development Officer of
Singapore Exchange-listed Alset International Limited, overseeing the company's
global property business, and as Vice President and Director of Corporate
Development of American Medical REIT Inc., positions he has held since August
2020. He also serves as Co-Chief Executive Officer and Director of LiquidValue
Development Inc. (f.k.a SeD Intellgient Home Inc.)(USA), a company he joined in
2017, and as Director and Chief Executive Officer (International) of Alset IHome
Inc. (f.k.a. SeD Home & REITs Inc.)(USA) a company he joined in 2015. Mr. Chan
Tung Moe previously served as Chief Executive Officer of Pop Motion Consulting
Pte Ltd. (Singapore) from 2018 to 2020. Prior to that, in 2015 he was Group
Chief Operating Officer of Hong Kong Stock Exchange listed Zensun International
Limited where he was responsible for the company's global business operations
consisting of REIT ownership and management, property development, hotels and
hospitality, as well as property and securities investment and trading. Within
the past five years, Mr. Chan Tung Moe has served as a director of MasterCard
issuer Xpress Finance Limited as well as RSI International Systems Inc., which
was a hotel software company listed on the Toronto Stock Exchange.
He holds a Master's Degree in Business Administration with honors from the
University of Western Ontario, a Master's Degree in Electro-Mechanical
Engineering with honors and a Bachelor's Degree in Applied Science with honors
from the University of British Columbia.
There is no arrangement or understanding with Mr. Chan Tung Moe and any other
person pursuant to which he was elected as a director of the Company. Mr. Chan
Tung Moe is the son of Heng Fai Ambrose Chan, the Company's principal
shareholder and Chairman of the Board of the Company, and he is not a party to a
related party transaction within the meaning of Item 404(a) of Regulation S-K.
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