Before the opening bell, Monaker Group, Inc. (OTCQB: MKGI) announced the appointment of Simon Orange, the founding partner and chairman of CorpAcq, to its board of directors. In addition to adding extensive investment industry knowledge and experience to the Monaker team, Orange’s appointment also advances the company’s long-term goal of uplisting to the Nasdaq Capital Market. With this appointment, Monaker Group’s board of directors now includes five members, including three who are serving independently. Nasdaq corporate governance requirements specify that independent members must make up the majority of the board of directors for nearly all listed companies.
“While Simon’s appointment satisfies the listing requirements for an independent majority, we are continuing our search and evaluation process to bring on additional board members who will strengthen our leadership and composition of our board committees,” Bill Kerby, chairman and chief executive officer of Monaker Group, stated in this morning’s news release. “We expect to announce such additional appointments in the near term.”
Moving forward, Orange is expected to play a key role in the expansion of Monaker Group’s foothold in the global travel industry. In 2006, he co-founded CorpAcq, a UK-based corporate acquisitions and investments firm with a portfolio that currently includes 19 companies. Recognized as one of the fastest growing enterprises in the United Kingdom, CorpAcq has played a key role in the funding and management of numerous business ventures, many of which have been acquired by sizable Nasdaq and London Stock Exchange listed companies. In addition to his work with CorpAcq, Orange is also a founding member of New York-based Cicero Consulting Group.
“I have long been passionate about travel, and intrigued with how technology continues to transform the hospitality and travel landscape,” Orange noted in this morning’s release. “I’m honored and excited to join the Monaker board and leadership teams, particularly at this pivotal stage of the company’s development, with the near-term launch of its unique booking platform that for the first time will provide ‘real-time’ alternative lodging reservations along with mainstream travel products and services all on a single site.”
As noted in a December update, Monaker Group is currently working toward the launch of its alternative lodging rental (ALR) business later this month. This innovative offering will feature two components, including the company’s proprietary Monaker Booking Engine (MBE) and its flagship NextTrip.com platform. The MBE will allow both business travel partners and consumers to access Monaker Group’s expansive portfolio of lodging products, which currently features well over one million properties in the United States, Europe, Asia, South America and the Caribbean. On the other hand, NextTrip.com will continue to serve as a direct-to-consumer platform by offering, for the first time, real-time ALR reservations alongside major mainstream travel products and services.
For more information, visit www.MonakerGroup.com
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