VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/16/12 -- Cantronic Systems Inc. ("Cantronic" or the "Company") (TSX VENTURE: CTS) is pleased to provide Corporate updates in reorganization of corporate structure and change of Board of Directors.
The Company decided to transfer its 100% equity ownership in Actiontop Security Co. Ltd. ("Actiontop Security") which is held by the Company's wholly owned subsidiary, Cantronic Security Systems (China) Co., Ltd. in Shanghai, China ("CSSC") to the Company's other wholly owned subsidiary, Actiontop Electronic (Shenzhen) Co., Ltd. in Shenzhen, China ("Actiontop Shenzhen"). After this reorganization, Actiontop Security will become a wholly owned subsidiary of Actiontop Shenzhen. Since Actiontop Security and Actiontop Shenzhen are both in Shenzhen, China, the Company believes this reorganization will improve the management effectiveness.
The Company also announced that Ms. Tangya Yang has resigned from Board of Directors for personal reasons. We thank Ms. Yang for her services to the Board and the Company.
About Cantronic Systems Inc.
Cantronic Systems Inc. manufactures, distributes, and provides high-speed and digital networked video surveillance solutions to government and corporate customers in China. For more information, please visit our website at www.cantronicsecurity.com and www.cantronics.com.cn.
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