Hong Kong Resources : Announcements and Notices - Change of Board Committee Members and Re-designation of Director

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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)

CHANGE OF BOARD COMMITTEE MEMBERS AND

RE-DESIGNATION OF DIRECTOR

The board of directors (the "Board") of Hong Kong Resources Holdings Company Limited (the "Company") announces that with effect from 13 July 2019:

1. Mr. Xu Zhigang, an executive Director and Chief Executive Officer, has resigned as the chairman of the Nomination Committee of the Company;
2. Mr. Li Ning, an executive Director and chairman of the Board, has been appointed as the chairman of the Nomination Committee of the Company; and
3. Mr. Hu Hongwei, a non-executive Director, has been re-designated as an executive Director of the Company.

Mr. Hu Hongwei ("Mr. Hu"), aged 39, is an attorney-at-law admitted to practice in China. He was graduated from Fudan University with a Bachelor of Laws (LLB) degree and Master of Laws (LLM) degree. He is currently a partner of Shanghai office of Dentons. He has extensive experience in legal aspects of cross-border investment, restructuring and mergers and acquisitions practice. Mr. Hu has been an independent non-executive director of Tenwow International Holdings Limited (stock code: 1219) from 26 November 2018 and re-designated as a non-executive Director on 12 July 2019. Mr. Hu had served as an independent non-executive director, a non-executive director and an executive director of a Hong Kong listed company Titan Petrochemicals Group Limited (stock code: 1192) respectively from November 2015 to February 2018.

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Mr. Hu has entered into a letter of appointment with the Company on 29 March 2019. Mr. Hu 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. Mr. Hu is entitled to an annual emolument of HK$720,000 which are determined with reference to his duties and responsibilities with the Company and the prevailing market conditions.

Save as disclosed above, Mr. Hu 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. Hu 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 re-designation of Mr. Hu 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.

The Board would like to take this opportunity to welcome Mr. Hu's new role in the Company.

By order of the Board

Hong Kong Resources Holdings Company Limited

Mr. Li Ning

Chairman

Hong Kong, 14 July 2019

As at the date of this announcement, the Board comprises Mr. Li Ning (Chairman), Mr. Xu Zhigang (Chief Executive Officer), Ms. Dai Wei and Mr. Hu Hongwei as executive directors 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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