A Member of the UAE Royal Family Joins the Color Star Family
December 24 2024 - 1:00PM
Color Star Technology Co., Ltd. (Nasdaq: ADD) ("Color Star" or the
"Company"), an entertainment technology company with a global
network that focuses on the application of technology and artificial
intelligence in the entertainment industry, announces today that
His Highness Shaikh Humaid Abdulla Rashed Ahmed Almualla, a
prominent member of the United Arab Emirates royal family, has
officially joined the company as an independent director of the
Company’s board of directors. This appointment not only introduces
strong leadership to Color Star but also strengthens the company's
ties with the Middle East, particularly the UAE.
His Highness Shaikh Humaid Abdulla Rashed Ahmed Almualla is a
distinguished figure in UAE politics, wielding considerable influence
in the Al Mualla region. As a core member of the ruling family of
the Umm Al-Quwain Emirate, he plays a vital role on the UAE's
political stage. Born in Ajman, the nation's capital, His Highness
Shaikh Humaid is also the nephew of the current UAE President, a
connection that underscores his esteemed reputation both
domestically and internationally.
The Al Mualla family, one of the oldest royal lineages in the
Middle East, has historically governed the Umm Al-Quwain
Emirate.
In June 2023, His Highness Shaikh Humaid spearheaded the launch
of the UAE Royal HH Investment Fund, a venture that garnered
enthusiastic support from royal families and government officials in
Saudi Arabia, Oman, Kuwait, and Qatar. Beyond his financial
achievements,
His Highness Shaikh Humaid’s appointment as an independent
director on Color Star’s board of directors brings fresh
perspectives and strategic insights to the company.
Having a member of the UAE royal family join Color Star is
expected to unlock new investment opportunities and project
support, accelerating Color Star's continuous planned investment
and innovation in AI entertainment and related technologies.
Leveraging these resources, Color Star aims to develop cutting-edge
technologies and deliver richer, more innovative entertainment
experiences to global audiences. His Highness Shaikh Humaid ’s
extensive network will undoubtedly energize Color Star's
globalization strategy, paving the way for even greater success on
the international stage.
About Color Star Technology Co., Ltd.
Color Star Technology Co., Ltd. (Nasdaq: ADD) is an
entertainment and education company that provides online
entertainment performances and online music education services. Its
business operations are conducted through its wholly-owned
subsidiaries, Color Metaverse Pte. Ltd. and CACM Group NY, Inc. The
Company ’s online education is provided through its Color World
music and entertainment education platform. More information about
the Company can be found at www.colorstarinternational.com and
www.colorstar.investorroom.com.
Forward-Looking Statement
This press release contains forward-looking statements as defined
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other
than statements of historical facts. When the Company uses words
such as "may," "will," "intend," "should," "believe," "expect,"
"anticipate," "project," "estimate" or similar expressions that do
not relate solely to historical matters, it is making
forward-looking statements. Forward-looking statements are
not guarantee of future performance and involve risks and
uncertainties that may cause the actual results to differ
materially from the Company's expectations discussed in the
forward-looking statements. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company's goals and strategies; the Company's
future business development, including the development of the
metaverse project; product and service demand and acceptance;
changes in technology; economic conditions; the growth of the
educational and training services market internationally where ADD
conducts its business; reputation and brand; the impact of
competition and pricing; government regulations;
the occurrence of any event, change or other circumstances that
could give rise to the terms of the LOI nothereafter being
memorialized in a definitive agreement; the outcome of any legal
proceedings that have been, or will be, instituted against Color
Star or other parties to the LOI following
announcement of the LOI and transactions contemplated therein; the
ability of Color Star to meet NASDAQ listing standards in
connection with the consummation of the transaction contemplated
therein; the inability to complete the transactions contemplated by
the LOI due to the failure to meet certain closing conditions;
risks that the proposed transaction disrupts current plans
and operations and the potential difficulties in employee
retention as a result of the announcement of the LOI and
consummation of the transaction described therein; costs related to
the proposed acquisition; changes in applicable laws or
regulations; the ability of the combined company to meet its
financial and strategic goals, due to, among other things,
competition, the ability of the combined company to
grow and manage growth profitability, maintain
relationships with customers and retain its key employees; the
possibility that the combined company may be adversely affected by
other economic, business, and/or competitive factors;
and other risks and uncertainties described herein, as well as
those risks and uncertainties discussed from time to time in other
reports and other public filings with the Securities and Exchange
Commission by Color Star. For these reasons, among others,
investors are cautioned not to place undue
reliance upon any forward-looking statements in this press release.
Additional factors are discussed in the
Company's filings with the U.S. Securities and Exchange Commission,
which are available for review at www.sec.gov. The Company
undertakes no obligation to publicly revise these forward–looking
statements to reflect events or circumstances that arise after the
date hereof unless required by applicable laws, regulations or
rules.
For more information, please contact:
Color Star Investor Relations
Office Number No. 1003, 9th Floor,
7 World Trade Center, Suite 4621
New York NY 10007Office: (212)
410-5186Email ir@colorstarinternational.com
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