Blue River Holdings Limited announced that with effect from 1 July 2023: Mr. Marc Andreas Tschirner will resign as an executive Director and Managing Director due to his other business engagements; and Mr. Sam will resign as an executive Director and Vice Chairman due to his other business engagements. Mr. Tschirner and Mr. Sam have each confirmed that they have no disagreement with the Board and there are no matters in relation to their resignations that need to be brought to the attention of the shareholders of the Company and/or the Stock Exchange. The Board announced that following the resignation of Mr. Tschirner as the Managing Director, Mr. Kwong Kai Sing, who is currently the Chairman and an executive Director, will be appointed as the Managing Director with effect from 1 July 2023.

The biographical details of Mr. Kwong are set out as follows: Mr. Kwong, aged 64, was appointed as a non-executive Director on 9 February 2021 and was then appointed as the non-executive Chairman on 1 April 2021. Subsequently, he was redesignated as an executive Director on 8 November 2021 and has concurrently been the executive Chairman since then. Mr. Kwong holds a Bachelor's degree in Arts from Simon Fraser University in British Columbia, Canada.

He held senior positions with major international banks in Hong Kong in respective lending departments and China department and has served as executive director of various listed companies in Hong Kong. Mr. Kwong has extensive experience and knowledge in banking and financial services industry. Mr. Kwong was an appointed member of the China People's Political Consultative Conference of the Hubei Province and Zhaoqing City of the Guangdong Province.

He is the Audit Committee member of Tung Wah College since 2013 and was the Hospital Governing Committee member of Tai Po Hospital from April 2012 to March 2021. He was an independent non-executive director of Planetree International Development Limited, from April 2019 to April 2020 and he became a non-executive director from April 2020 to February 2021. He was also an executive director of Tai United Holdings Limited.

The Board announced that with effect from 1 July 2023, Mr. Sam will cease to act as the Authorised Representative and the Process Agent. Mr. Kwong will act as the Authorised Representative and the Process Agent. The board announced that with effect from 1 July 2023: Mr. Au will be appointed as a member of the Remuneration Committee; Mr. Tschirner will resign as a member of the Remuneration Committee, the CGC Committee and the Share Repurchase Committee; Mr. Sam will resign as a member of the Remuneration Committee, the Nomination Committee and the Share Repurchase Committee; and Consequential upon the resignation of Mr. Sam and the appointment of Mr. Kwong as the Authorised Representative, Mr. Chan will act as the alternate Authorised Representative to Mr. Kwong instead of Mr. Sam.