Jerash Mourns the Passing of CFO Rich Shaw

ROCHESTER, NY / ACCESSWIRE / October 29, 2019 / Jerash Holdings (US), Inc. (NASDAQ:JRSH) (the “Company”), a producer of high quality textile goods for leading global brands, today announced the death of Richard J. Shaw on October 27, 2019. Mr. Shaw had served as Chief Financial Officer since 2017.

Sam Choi, Chairman and Chief Executive Officer of Jerash, said, “We are all deeply saddened by the news of Rich’s passing. Rich was a highly respected and talented individual, a key part of our team, and a friend. His dedication to success was instrumental in bringing Jerash public and structuring our global organization into a US corporation. After our successful Nasdaq listing, he worked tirelessly to build strong relationships with the investment community and expand our organizational capabilities to support our growth. On behalf of the entire Jerash team, we extend our deepest condolences during this difficult time to Rich’s family, who meant the world to him.”

Mr. Shaw’s duties will be assumed by the Company’s executive and finance teams until Jerash can complete a search for his successor.

About Jerash Holdings (US), Inc.

Jerash Holdings (US), Inc. (Nasdaq: JRSH) is a manufacturer utilized by many well-known brands and retailers, such as Walmart, Costco, Hanes, Columbia, VF Corporation (which owns brands such as The North Face, Timberland, Jansport, etc.), and PVH Corp. (which owns brands such as Calvin Klein, Tommy Hilfiger, IZOD, Speedo, etc.). Its production facilities are currently made up of four factory units and three warehouses and currently employ approximately 3,600 people. The total annual capacity at its facilities is expected to be approximately 8.0 million pieces by the end of calendar year 2019. Additional information is available at http://www.jerashholdings.com.

Forward Looking Statements

This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect Jerash’s current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause actual results to differ materially from the statements made, including those risks described from time to time in filings made by Jerash with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. Statements contained in this news release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Jerash does not intend and does not assume any obligation to update these forward-looking statements, other than as required by law.

Contact:

Matt Kreps, Darrow Associates Investor Relations
(214) 597-8200
mkreps@darrowir.com

SOURCE: Jerash Holdings (US), Inc.

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