Wellous Group Limited (“Wellous”, or the “Company”), a fast-growing
Asia-based international nutrition company that develops,
manufactures, markets and sells health and wellness products, today
announced key leadership appointments to help further the company’s
global expansion and prepare for transitioning to life as a public
company.
Mr. Lee Koon Tan has been appointed as group
president of Wellous. Lee Koon brings decades of experience as a
corporate leader. In this role, he oversees and drives the
Company’s transformational initiatives and expansion plans. He is
responsible for corporate development activities, including
strategic partnerships and investment opportunities. Previously,
Lee Koon held leadership roles across various companies in the Hong
Leong Group, a leading Southeast Asia conglomerate with portfolio
companies in financial services, manufacturing, real estate and
consumer goods. He is also a CFA Charterholder.
Portrait of Mr. Lee Koon Tan
Wellous also announced the appointment of Ms.
Jorrine Ang as chief financial officer, effective from December
2022. Jorrine has over 10 years of experience in senior management
roles of public companies listed on the Bursa Malaysia Stock
Exchange, where she was responsible for the formulation and
implementation of corporate strategies as well as overseeing
corporate finance, fund raising, and investment management. Prior
to joining Wellous, Jorrine founded and ran her own advisory
practice, providing pre-IPO advisory, capital fund raising, mergers
& acquisitions and corporate restructuring services for
corporate clients. She completed an ACCA (the Association of
Chartered Certified Accountants) and holds a Master’s Degree in
Business Administration from the University of Portsmouth, United
Kingdom.
Portrait of Ms. Jorrine Ang
"Lee Koon and Jorrine are both highly
accomplished, seasoned professionals and exceptional leaders,” said
Wee Kuan (Andy) Tan, Co-Founder and CEO of Wellous. “I am confident
they will help to drive Wellous forward at this important time as
we transition to a public company. Their considerable experience
and demonstrated excellence make them the right choice for
Wellous.”
“We look forward to working closely with Lee
Koon and Jorrine to better develop the markets we serve and deliver
more value for our customers, partners, employees and
shareholders," said Henry Chin, Co-Founder and Chairman of Wellous.
“With these key leadership changes, we believe this better
positions Wellous to realize our full potential."
On December 13, Wellous announced that it had
entered into a definitive business combination agreement with
Kairous Acquisition Corp. Limited, a special purpose acquisition
company (“Kairous”), that, if and when approved by the shareholders
of Kairous, will result in Wellous becoming a publicly listed
company on Nasdaq upon the closing of the proposed transaction.
Founded in 2016, Wellous is headquartered in
Malaysia with a strong and growing presence across the Asia Pacific
region. Having introduced over a dozen product series to the market
using premium raw materials, the upcoming listing will be a key
milestone in the Company’s further expansion across the world.
About WellousWellous is a
health food and nutrition company that develops, manufactures,
markets and distributes trusted and beneficial health and wellness
products. The Company offers only the best of nature, the most
precious ingredients from a wide sourcing network. Based in
Malaysia, Wellous’ products and services are distributed through
its tech-enabled distribution channels. The Company has a strong
footprint in the Asia-Pacific markets and growing presence in other
markets across the world.
About Kairous Acquisition Corp.
LimitedKairous Acquisition Corp. Limited is a blank check
company, also commonly referred to as a special purpose acquisition
company, or SPAC, formed for the purpose of effecting a merger,
share exchange, asset acquisition, share purchase, reorganization
or similar business combination with one or more businesses or
entities.
Additional Information and Where to Find
ItIn connection with the proposed business combination,
Kairous and/or its subsidiary will file with the SEC a Registration
Statement on Form F-4 (as amended, the Registration Statement),
which will include a proxy statement/prospectus. After the
Registration Statement is declared effective, Kairous will send the
proxy statement/prospectus and other relevant documents to its
shareholders. This press release is not a substitute for the proxy
statement/prospectus. INVESTORS AND SECURITY HOLDERS AND OTHER
INTERESTED PARTIES ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS
AND ANY OTHER RELEVANT DOCUMENTS THAT HAVE BEEN FILED OR WILL BE
FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO
THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT
WELLOUS, KAIROUS, THE PROPOSED TRANSACTION AND RELATED MATTERS. The
Registration Statement and any other relevant filed documents (when
they are available) can be obtained free of charge from the SEC’s
website at www.sec.gov. These documents (when they are available)
can also be obtained free of charge from Kairous at
https://www.kairous.com/insights or upon written request at Kairous
Acquisition Corp. Limited, Unit 9-3, Oval Tower @ Damansara, No.
685, Jalan Damansara, 60000 Taman Tun Dr. Ismail, Kuala Lumpur,
Malaysia.
Forward-Looking Statements
This press release contains certain
“forward-looking statements” within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, both as
amended. Statements that are not historical facts, including
statements about the pending transactions described herein, and the
parties’ perspectives and expectations, are forward-looking
statements. Such statements include, but are not limited to,
statements regarding the proposed transaction, including the
anticipated initial enterprise value and post-closing equity value,
the benefits of the proposed transaction, integration plans,
expected synergies and revenue opportunities, anticipated future
financial and operating performance and results, including
estimates for growth, the expected management and governance of the
combined company, and the expected timing of the transactions. The
words “expect,” “believe,” “estimate,” “intend,” “plan” and similar
expressions indicate forward-looking statements. These
forward-looking statements are not guarantees of future performance
and are subject to various risks and uncertainties, assumptions
(including assumptions about general economic, market, industry and
operational factors), known or unknown, which could cause the
actual results to vary materially from those indicated or
anticipated.
Such risks and uncertainties include, but are
not limited to: (i) risks related to the expected timing and
likelihood of completion of the pending business combination,
including the risk that the transaction may not close due to one or
more closing conditions to the transaction not being satisfied or
waived, such as regulatory approvals not being obtained, on a
timely basis or otherwise, or that a governmental entity
prohibited, delayed or refused to grant approval for the
consummation of the transaction or required certain conditions,
limitations or restrictions in connection with such approvals; (ii)
risks related to the ability of Kairous and the Company to
successfully integrate the businesses; (iii) the occurrence of any
event, change or other circumstances that could give rise to the
termination of the applicable transaction agreements; (iv) the risk
that there may be a material adverse change with respect to the
financial position, performance, operations or prospects of the
Company or Kairous; (v) risks related to disruption of management
time from ongoing business operations due to the proposed
transaction; (vi) the risk that any announcements relating to the
proposed transaction could have adverse effects on the market price
of Kairous’s securities; (vii) the risk that the proposed
transaction and its announcement could have an adverse effect on
the ability of the Company to retain customers and retain and hire
key personnel and maintain relationships with their suppliers and
customers and on their operating results and businesses generally;
(viii): risks relating to the wellness and nutritional supplements
sectors, including consumer preference and purchasing habit
changes, raw material supply fluctuation, governmental regulatory
and enforcement changes, market competitions, competitive product
and pricing activity; and (ix) risks relating to the combined
company’s ability to enhance its services and products, execute its
business strategy, expand its customer base and maintain stable
relationship with its business partners.
A further list and description of risks and
uncertainties can be found in the Prospectus filed on December 14,
2021 relating Kairous’s initial public offering and in the
Registration Statement and proxy statement that will be filed with
the SEC by Kairous and/or its subsidiary in connection with the
proposed transactions, and other documents that the parties may
file or furnish with the SEC, which you are encouraged to read.
Should one or more of these risks or uncertainties materialize, or
should underlying assumptions prove incorrect, actual results may
vary materially from those indicated or anticipated by such
forward-looking statements. Accordingly, you are cautioned not to
place undue reliance on these forward-looking statements.
Forward-looking statements relate only to the date they were made,
and Kairous, the Company and their subsidiaries undertake no
obligation to update forward-looking statements to reflect events
or circumstances after the date they were made except as required
by law or applicable regulation.
No Offer or Solicitation
This press release is not a proxy statement or
solicitation of a proxy, consent or authorization with respect to
any securities or in respect of the transactions described above
and shall not constitute an offer to sell or a solicitation of an
offer to buy the securities of Kairous or the Company, nor shall
there be any sale of any such securities in any state or
jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of such state or jurisdiction. No offering of
securities shall be made except by means of a prospectus meeting
the requirements of Section 10 of the Securities Act of 1933, as
amended, or an exemption therefrom.
Participants in the
Solicitation
Kairous and the Company, and certain
shareholders of Kairous, and their respective directors, executive
officers and employees and other persons may be deemed to be
participants in the solicitation of proxies from the holders of
Kairous ordinary shares in respect of the proposed transaction.
Information about Kairous’s directors and executive officers and
their ownership of Kairous ordinary shares is set forth in the
Prospectus filed on December 14, 2021 and filed with the SEC as
modified or supplemented by any Form 3 or Form 4 filed with the SEC
since the date of that filing. Other information regarding the
interests of the participants in the proxy solicitation will be
included in the Registration Statement/proxy statement pertaining
to the proposed transaction when it becomes available. These
documents can be obtained free of charge from the sources indicated
above.
Wellous and its directors and executive officers
may also be deemed to be participants in the solicitation of
proxies from the stockholders of Kairous in connection with the
proposed business combination. A list of the names of such
directors and executive officers and information regarding their
interests in the proposed business combination will be included in
the Registration Statement/proxy statement pertaining to the
proposed transaction when it becomes available for the proposed
business combination.
Contacts
Investors: Michael
BowenwellousIR@icrinc.com
Media:Brad BurgesswellousPR@icrinc.com
Amirul Sanusiamirul.sanusi@wellous.com
Photos accompanying this announcement are available
athttps://www.globenewswire.com/NewsRoom/AttachmentNg/03958a00-0a89-4448-8463-dc11c931c310https://www.globenewswire.com/NewsRoom/AttachmentNg/c68331f9-28ca-42f2-976c-32b7512b0a8e
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