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VANCOUVER, BC / ACCESSWIRE / November 20, 2024 / Rektron Group Inc. ("Rektron" or the "Company") (CSE:REK.U)(FRA:F75) a global commodities trading house, is pleased to announce that Satyam Bhasin has been appointed as a director of the Company, effective immediately, following the recent resignation of Mr. Michael Stier.
Mr. Bhasin is an accomplished finance executive with more than 15 years of extensive experience in the banking and financial services industry. Currently, Mr. Bhasin serves as the Managing Director at Second Street Partners Fund in Dubai and the CEO of Second Street Partners in Mauritius, a quant fund specializing in investments across India and the U.S. Utilizing a strategic blend of cash and derivatives, he focuses on maximizing returns in these key markets. Previously, Mr. Bhasin held pivotal roles at Ekam Advisors, where he was a Director and Partner, managing foreign risk and providing advisory services, and at Citibank India, where he served as a Director. His expertise spans corporate sales, structured finance, and foreign exchange, with a focus on the Asia-Pacific region. An alumnus of the prestigious Sydenham College of Commerce & Economics in Mumbai, Mr. Bhasin holds a Chartered Accountant designation. He is an accomplished executive with extensive experience working in hedge funds, quantitative finance, risk management, portfolio management, and equity capital markets. His comprehensive understanding of global financial markets and risk management strategies makes him a valuable leader in the field, known for his adept handling of complex financial operations and investment strategies.
"We are very excited to welcome Mr. Bhasin to our board of directors. Mr. Bhasin is an accomplished executive with a history of performance in finance and banking. We look forward to the extensive experience that we know Mr. Bhasin will bring to the board of directors as we continue to grow as a public company and strive to create long-term value for our stakeholders," stated Ricardo Phielix, the Chief Executive Officer of the Company.
Corporate Update Moreover, the Company announces the resignation of Mr. Markos Petrocheilos as a director and officer of the Company's subsidiary DL Hudson Limited and as an officer of its other subsidiaries DL Hudson Dunes General Trading L.L.C, DLH Istros Limited and DL Hudson Germany GmbH, effective November 10, 2024. The Company would like to thank him for his valued contributions throughout his tenure and wishes him all the best in his future endeavours.
On Behalf of the Board of Directors, Rektron Group Inc. Ricardo Phielix Chief Executive Officer
About the Company The Company is the holding and parent company of Rektron AQ Limited, which is the holding and parent company of DL Hudson Limited. DL Hudson Limited is the trading arm of a group of companies, of which there are several subsidiaries that support the group's global commodity trading operations. The Company is headquartered in Vancouver, BC, while Rektron AQ Limited is headquartered in London, UK. The Company focuses on maintaining an experienced team of management and traders, extensive geographical and product diversification, trading and logistical expertise, and financial and risk management. The team at the Group is composed of energy and metals traders, City of London and Wall Street bankers. The trading expertise includes principal energy and metals products, particularly ferrous and nonferrous metals, Energy Transition Commodities ("ETC"), recycled metals and crude and Euro VI-compliant refined oil products. The Company transacts across all compliant markets following the international trade regulations and guidelines.
FORWARD‐LOOKING STATEMENTS
This news release contains forward‐looking statements and forward‐looking information within the meaning of Canadian securities legislation (collectively, "forward‐looking statements") that relate to Rektron's current expectations and views of future events. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "expects", "will continue", "is anticipated", "anticipates", "believes", "estimated", "intends", "plans", "forecast", "projection", "strategy", "objective" and "outlook") are not historical facts and may be forward‐looking statements and may involve estimates, assumptions and uncertainties which could cause actual results or outcomes to differ materially from those expressed in such forward‐looking statements. No assurance can be given that these expectations will prove to be correct and such forward‐looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release.
Forward‐looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond Rektron's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward‐looking statements. Such risks and uncertainties include, but are not limited to the other factors set forth under "Caution Regarding Forward-Looking Statements" and "Risk Factors" in the Company's final prospectus dated March 4, 2024 and as amended on June 28, 2024 and August 12, 2024. Rektron undertakes no obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise, except as may be required by law. New factors emerge from time to time, and it is not possible for Rektron to predict all of them, or assess the impact of each such factor or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward‐looking statement. Any forward‐looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
No securities regulatory authority has either approved or disapproved of the contents of this news release.
