Item 5.02Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective March 14, 2022, Mr. Richard Tang has resigned as Treasurer and
officer, and all roles relating to Sino American Oil Company.
There are no disputes of the resignation. Mr. Tang has administered the Company
for numerous years and has decided to step down from director and thereby opens
a vacancy for the Treasurer role.
Effective March 14, 2022, the Company occupies the vacancy of Treasurer and
appoints Mr. Boris Aleksandrov. Mr. Aleksandrov has good working experience in
administering Oil and Gas (Energy) companies.
The Board resolution was executed and ratified with full quorum, and all votes
were in favor of the resignation of Mr. Tang and all in favor of the appointment
of Mr. Aleksandrov. Mr. Aleksandrov has been CEO and President of B Holding
since September 2019 and manages strategic and day-to-day processes for several
subsidiaries in various industries including but not limited to healthcare and
real estate. From June 2014 until September 2019, Mr. Aleksandrov was Chief
Financial Officer of Lasbet Tootmine AS, a concrete factory, where he
implemented and managed the finance system and ERP system and managed the
long-term and short-term budgeting and cash flow of the company. Since September
2017, Mr. Aleksandrov has also been a Professor of Economics at Estonian
Entrepreneurship University of Applied Sciences.
Mr. Aleksandrov has held the positions as Chief Executive & Finance Officer in
several companies with almost 20 years of experience in finance and business
management. He is a partner in several investment projects, and companies
related to production. In all of them he was responsible for financial
management.
Throughout his career he has demonstrated proficiencies in Finance Management,
Financial Modelling, Investments, Budgeting, Business Forecasting, Strategic
Planning and Implementation, Cash Flow Management, Risk Management, Corporate
Finance, Audit, Market Evaluation. He holds a Master of Business Administration
(MBA) and an Enterprising / Business Management (Bachelor's Degree) from
Estonian Entrepreneurship University of Applied Sciences.
The Board resolution was executed and ratified with full quorum, and all votes
were in favor of the resignation of Mr. Tang and all in favor of the appointment
of Mr. Aleksandrov.
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