Hong Kong Resources : Announcements and Notices - Resignation of Executive Directors; Appointment of Executive Director and Chairman of the Board and Change of Authorised Representative

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HONG KONG RESOURCES HOLDINGS COMPANY LIMITED

香港資源控股有限公司

(Incorporated in Bermuda with limited liability and

carrying on business in Hong Kong as HKRH China Limited)

(Stock Code: 2882)

RESIGNATION OF EXECUTIVE DIRECTORS;

APPOINTMENT OF EXECUTIVE DIRECTOR

AND CHAIRMAN OF THE BOARD

AND CHANGE OF AUTHORISED REPRESENTATIVE

The Board announces that with effect from 12 June 2019:

1. Mr. Lam has resigned as an executive Director of the Company; and
2. Mr. Zhao has resigned as an executive Director of the Company; and
3. Mr. Li has been appointed as an executive Director and chairman of the Board.

The Board also announces that with effect from 12 June 2019, Mr. Lam has ceased to be an authorised representative of the Company and Ms. Dai Wei, the executive Director has been appointed as an authorised representative of the Company for the purpose of the Listing Rules.

RESIGNATION OF EXECUTIVE DIRECTORS

The board (the "Board") of directors ("Directors") of Hong Kong Resources Holdings Company Limited (the "Company") announces that with effect from 12 June 2019:

1. Mr. Lam Kwok Hing Wilfred ("Mr. Lam") has resigned as an executive Director of the Company due to his other personal and business commitments; and
2. Mr. Zhao Jianguo ("Mr Zhao") has resigned as an executive Director of the Company due to his other personal and business commitments.

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Each of Mr. Lam and Mr. Zhao confirmed that (i) he has no claim against the Company in respect of his resignation whatsoever whether in respect of fees, remuneration or compensation for loss of office and that he has no disagreement with the Board; and (ii) there are no matters that need to be brought to the attention of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the shareholders of the Company in relation to his resignation.

The Board is not aware of any matters relating to his resignation that need to be brought to the attention of the Stock Exchange and the shareholders of the Company.

APPOINTMENT OF EXECUTIVE DIRECTOR AND CHAIRMAN OF THE BOARD

The Board announces that with effect from 12 June 2019, Mr. Li Ning ("Mr. Li") has been appointed as an executive Director and chairman of the Board.

Mr. Li Ning

Mr. Li Ning ("Mr. Li"), aged 34, graduated from People's Public Security University of China. Mr. Li was the chairman of 山西太和相業實業集團有限公司 (Shanxi Taihe Xiangye Industrial Group Company Limited) and started his businesses of 上海玆諾金融信息服務有限公司 (Shanghai Zno Financial Information Service Company Limited) and 深圳市前海普諾供應鏈有限公司 (Shenzhen Qianhai

Puno Supply Chain Company Limited). He has extensive experience in corporate investment, corporate management and financial services.

Mr. Li has entered into a service agreement with the Company on 12 June 2019. His emolument will be determined by the Board on the recommendation of the remuneration committee of the Company by reference to his duties and responsibilities with the Company. Mr. Li is subject to retirement and re-election at the next following annual general meeting of the Company after his appointment and thereafter subject to retirement by rotation and re-election at the annual general meeting in accordance with the bye-laws of the Company.

Save as disclosed above, Mr. Li has not held any directorship in the last three years in any public companies the securities of which are listed on any securities market in Hong Kong or overseas and does not have any relationship with any directors, senior management, substantial or controlling shareholders of the Company.

As at the date of this announcement, Mr. Li does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Future Ordinance.

Save as disclosed above, there is no other information relating to the appointment of Mr. Li that is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Listing Rules nor any matters that need to be brought to the attention of the shareholders of the Company.

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CHANGE OF AUTHORISED REPRESENTATIVE

With effect from 12 June 2019, Mr. Lam has ceased to be an authorized representative of the Company and Ms. Dai Wei, the executive Director has been appointed as an authorised representative of the Company for the purpose of the Listing Rules.

The Board would like to express its appreciation to Mr. Lam and Mr. Zhao for their valuable contributions towards the Company during their tenure of office and would also like to express its welcome to Mr. Li for joining the Board.

By order of the Board

Hong Kong Resources Holdings Company Limited

Mr. Xu Zhigang

Executive Director & Chief Executive Officer

Hong Kong, 12 June 2019

As at the date of this announcement, the Board comprises Mr. Li Ning (Chairman), Mr. Xu Zhigang (Chief Executive Officer) and Ms. Dai Wei as executive directors, Mr. Hu Hongwei as non-executive director and Dr. Loke Yu alias Loke Hoi Lam, Mr. Xu Xiaoping and Mr. Fan, Anthony Ren Da as independent non-executive directors.

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