-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, N769o/Iz4E7OyTGD2He9p9Wj309X5kDdQowt1Lyy8RnQdMWRFuEZg1Qb5K8T2WHh 9SQ9TcC23igPHz/zaZBDcQ== 0001019687-08-001460.txt : 20080401 0001019687-08-001460.hdr.sgml : 20080401 20080401154942 ACCESSION NUMBER: 0001019687-08-001460 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20080401 ITEM INFORMATION: Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20080401 DATE AS OF CHANGE: 20080401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Comtech Group Inc CENTRAL INDEX KEY: 0000028367 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPONENTS & ACCESSORIES [3670] IRS NUMBER: 520466460 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-02642 FILM NUMBER: 08729337 BUSINESS ADDRESS: STREET 1: RM. 10001, TOWER C, SKYWORTH BUILDING STREET 2: HIGH-TECH INDUSTRIAL PARK, NANSHAN CITY: SHENZHEN STATE: F4 ZIP: 5180 BUSINESS PHONE: 011.755.267.4327 MAIL ADDRESS: STREET 1: RM. 10001, TOWER C, SKYWORTH BUILDING STREET 2: HIGH-TECH INDUSTRIAL PARK, NANSHAN CITY: SHENZHEN STATE: F4 ZIP: 5180 FORMER COMPANY: FORMER CONFORMED NAME: TRIDENT ROWAN GROUP INC DATE OF NAME CHANGE: 19960920 FORMER COMPANY: FORMER CONFORMED NAME: DETOMASO INDUSTRIES INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: ROWAN INDUSTRIES INC DATE OF NAME CHANGE: 19731118 8-K 1 comtech_8k-040108.htm CURRENT REPORT comtech_8k-040108.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________
 
FORM 8-K
 
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
Date of Report (Date of earliest event reported):  April 1, 2008
 
COMTECH GROUP, INC.
(Exact Name of Registrant as Specified in Charter)

Maryland
 
000-02642
 
52-0466460
(State or Other Jurisdiction of Incorporation)
 
(Commission File Number)
 
(IRS Employer Identification No.)
 
c/o Comtech Group, Room 10001
Tower C, Skywatch Building,
High-Tech Industrial Park
Nanshan, Shenzhen 518057 PRC
(Address of Principal Executive Offices and Zip Code)

Registrant’s telephone number, including area code: 011-86-755-267-4327
 
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 
 

 
 
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
On April 1, 2008, Comtech Group, Inc., a Maryland corporation (“Comtech”), announced the appointment of Yi Yuan as its Chief Operating Officer, effective April 1, 2008.
 
Mr. Yi Yuan, 48, was appointed Chief Operating officer of Comtech effective April 1, 2008. Prior to joining Comtech, Mr. Yuan was the President of TCL Communication Technology from September 2005 to February 2008. Prior to joining TCL, he had been in various positions at Broadcom from March 2000 to August 2005, including the Chief Representative, General Manager and Director of Sales for Greater China and the Director of Asia business development. Prior to joining Broadcom, he was the global business manager at Texas Instruments where he pioneered China development. Mr. Yuan received a B.S. degree from Shanghai Jiao Tong University and obtained a M.S. degree in Electronic Engineering from Northern Illinois University.
 
Mr. Yuan will receive a base salary of $100,000 per year for the three-year period commencing April 1, 2008 through and including March 31, 2011. Additionally, Mr. Yuan will receive a grant of 80,000 shares of Comtech’s common stock vesting on a quarterly basis in twelve equal installments, beginning June 30, 2008. Additionally, Mr. Yuan will be eligible for a yearly bonus of up to an additional 53,334 shares if certain performance measures relating to earnings per share are attained.
 
A copy of the press release relating to Mr. Yuan’s appointment is attached hereto as Exhibit 99.1.
 
 
2

 

Item 9.01.  Financial Statements and Exhibits
 
(c)
Exhibits:  
     
  Exhibit No. Description
     
  99.1 Press Release dated April 1, 2008.
 
 
3

 
 
SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
COMTECH GROUP, INC.
 
       
Dated:  April 1, 2008
By:
/s/ Jeffrey Kang  
   
Jeffrey Kang
 
   
Chief Executive Officer
 
 
 
4
EX-99.1 2 comtech_8k-ex9901.htm PRESS RELEASE comtech_8k-ex9901.htm
EXHIBIT 99.1
 
Comtech Logo
FOR RELEASE AT APRIL 1, 2008 AT 7AM ET

Comtech Group, Inc. Appoints New Chief Operating Officer

Shenzhen, CHINA – April 1, 2008:  Comtech Group, Inc. (NASDAQ: COGO), a leading provider of customized design solutions for the technology manufacturing sector in China, announced today the appointment of Mr. Yi Yuan to the role of Chief Operating Officer as of April 1, 2008. Mr. Yuan will be responsible for the company’s operations as well as new business and strategic development.

Mr. Jeffrey Kang, Chairman and Chief Executive Officer commented, “Despite the downturn in the US economy, we have experienced phenomenal success at Comtech, and we remain optimistic about the 25-30% growth target for 2008.  We will leverage COGO’s existing customer base as well as Mr. Yuan’s broad connections to the US technology industry and deep knowledge of greater China’s digital media and mobile handset segments to drive the company’s organic expansion in these critical areas.

“Mr. Yuan will significantly improve Comtech’s management bandwidth and foundation for organic growth, enabling me to pursue new merger and acquisitions opportunities, which in turn will further fuel the company’s long term growth,” Mr. Kang continued.

Mr. Yuan, 48, joined Comtech from TCL Communication Technology where he served as President from September 2005 to February 2008.  Prior to joining TCL, he held various positions at Broadcom from March 2000 to August 2005 including Chief Representative, General Manager and Director of Sales for Greater China, and the Director of Asia business development. Before Broadcom, Mr. Yuan was global business manager at Texas Instruments where he pioneered the company’s business development in China.

Mr. Yuan commented, “COGO holds a unique position in China’s technology industry with its broad client base, deep customer relationships and customer-oriented culture.  These assets provide an ideal platform on which we will be able to capitalize, striking more new partnerships with leading global technology vendors and expanding solution offerings in the digital media segment, for continued growth in China’s technology industry.”

Mr. Yuan received a Bachelor of Science degree from Shanghai Jiao Tong University and Master’s degree in Electronic Engineering from Northern Illinois University.

About Comtech Group, Inc.:
Comtech Group, Inc. (NASDAQ: COGO) is a leading provider of customized module and subsystem design solutions for the Chinese market. The company believes it acts as a proxy to China's technology industry as it works with virtually all the major ODMs and OEMs China. Comtech utilizes these relationships and combines their IP to create designs that Comtech then sells to electronic manufacturers. These designs allow manufacturers to reduce their time to market for new products and ultimately increase sales. Comtech Group focuses on the mobile handset, telecom equipment and digital media end-markets for their customized design modules while also offering business and engineering services to their large telecom equipment vendor customers. Over the last eleven years, Comtech has grown its customer list to include more than 200 of the largest and most well known manufacturers across the mobile handset, telecom equipment and consumer markets, covering both multinational Chinese subsidiaries and Chinese domestic companies. For more information, visit www.comtech.com.cn.

Safe Harbor Statement:
This press release includes certain statements that are not descriptions of historical facts, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include statements about our proposed discussions related to our business or growth strategy such as growth in digital media, growth in mobile handset business, as well as our potential acquisitions which are subject to change. Such information is based upon expectations of our management that were reasonable when made but may prove to be incorrect. All such assumptions are inherently subject to uncertainties and contingencies beyond our control and upon assumptions with respect to future business decisions, which are subject to change. For further descriptions of other risks and uncertainties, see our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 10-K, and our subsequent SEC filings, including our most recent S-1 Form and/or S-3. Copies of filings made with the SEC are available through the SEC's electronic data gathering analysis retrieval system (EDGAR) at www.sec.gov.
 
For further information:
www.comtech.com.cn/investorinfo.html
communications@comtech.com.cn
 
H.K.:
U.S.:
Fax:
+852 2730 1518
+1 (646) 291 8998
+86 755 2674 3522
 
 
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