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): August 31,
2010
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FIRST
CHINA PHARMACEUTICAL GROUP, INC.
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(Exact
Name of Registrant as Specified in its Charter)
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Nevada
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333-151212
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74-3232809
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(State
or Other
Jurisdiction
of Incorporation)
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(Commission
File Number)
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(IRS
Employer
Identification
No.)
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Room
1301, 13th
Floor
CRE
Building
303
Hennessey Road
Wanchai,
Hong Kong
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(Address
of Principal Executive Office) (Zip
Code)
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Registrant's
telephone number, including area code: (425)
646-2391
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):
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act(17
CFR 240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act(17
CFR 240.13e-4(c))
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Section 5 - Corporate Governance and
Management
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Item 5.02.
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Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain
Officers.
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On August 31, 2010, the Board of
Directors of First China Pharmaceutical Group, Inc. (the “Company”)
appointed Mr. Gregory D. Tse to the Board of Directors of the
Company. Mr. Tse, age 51, has over 25 years of international
finance, marketing, media, PR and advertising experience with an extensive brand
management track record in North America, Hong Kong and China. In China, Mr. Tse has helped many international
brands to enter into the marketplace before moving on to become one of
China’s first communications/media M&A
specialists. Mr.
Tse most recently served as Head of China Advisory for Calneva Financial Group
from July 2004 to the present date, providing investment banking services for
merger and acquisitions in the information technology, media, energy,
infrastructure and natural resources areas. Previously, Mr. Tse’s media and marketing communications
career included heading up several multinational advertising and PR agencies,
including from May 1997 to
June 2004, when Mr. Tse served as Managing Director at Publicis China, a communications group, were he
managed the China national offices. Mr. Tse
has also served as a member of the Board of Directors of i-Level Media Group Incorporated (PK:
ILVL) from July 2008 to January 2009. Mr. Tse has also traveled
extensively in China as the Chief Communications Officer for
CORA (China’s Old Revolution Area), a NGO with a
mandate to develop China’s rural areas, and started many
humanitarian projects to fund education there. Mr. Tse graduated from
the School of Architecture at University of Waterloo, Canada.
Mr. Tse was appointed to the Company’s
Board of Directors due to his over 25 years of experience, primarily in
China, as well as his public company board
and management experience. The Company believes that Mr. Tse’s
knowledge of investment banking services and mergers and acquisitions will be an
invaluable resource as the Company may seek additional capital to expand its
business in the PRC subsequent to the closing of the Exchange Transaction,
described on the Company’s Current Report on Form 8-K, dated August 23,
2010. The Company also believes that Mr. Tse’s knowledge of brand
management and marketing will aid the Company in expanding the brand awareness
of its pharmaceutical distribution operations subsequent to the closing of the
Exchange Transaction.
There are no arrangements or
understandings between Mr. Tse and any other persons, pursuant to which Mr. Tse
was selected as a director. Mr. Tse has not been named at the time of this
Current Report to any committee of the Board of Directors.
Mr. Tse has not previously held any
positions with the Company and there have been no related party transactions
between Mr. Tse and the Company. Mr. Tse has no family relationships
with any director or executive officer of the Company, or persons nominated or
chosen by the Company to become directors or executive officers. There are no
transactions, since the beginning of the Company’s last fiscal year, or any
currently proposed transaction, in which the Company was or is to be a
participant and the amount involved exceeds the lesser of $120,000 or one
percent of the average of the Company’s total assets at year-end for the last
three completed fiscal years, and in which Mr. Tse had or will have a direct or
indirect material interest. There is no material plan, contract or arrangement
(whether or not written) to which Mr. Tse is a party or in which he
participates, nor any amendment to any such plan contract or arrangement, in
connection with our appointment of Mr. Tse, nor any grant or award to Mr. Tse or
modification thereto, under any such plan, contract or arrangement in connection
with the Company’s appointment of Mr. Tse.
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SIGNATURES
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.
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Date: August
31, 2010
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FIRST
CHINA PHARMACEUTICAL GROUP, INC.
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By:
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/s/ Aidan Hwuang
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Aidan
Hwuang
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President
and Chief Financial Officer
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