New Sparkle Roll International Group Limited Announces Change of Independent Non-Executive Director
listed on any securities market in Hong Kong or overseas in the past three years or other major appointments and professional qualifications. Mr. Li does not hold any other positions in the Company or any of its subsidiaries; and does not have any relationship with any other Directors, senior management or substantial or controlling shareholders of the Company. Mr. Li has entered into an appointment letter with the Company as an independent non- executive Director for a fixed period of two years, renewable for one year, and subject to the retirement by rotation and re-election in accordance with the Bye-laws of the Company (the "Bye-laws"). The appointment letter is terminable by either party by serving the other party
a three-month prior written notice before the expiry of the initial two-year term. According to the Bye-laws, Mr. Li shall hold office only until the first annual general meeting of the Company after his appointment and shall then be eligible for re-election. Mr. Li will be entitled to a director's fee of HKD 240,000 per annum. The same has been recommended by the remuneration committee of the Company and approved by the Board based on his
qualifications, experience, and level of responsibilities undertaken, the prevailing market conditions and the Company's remuneration policy.