CASH Financial Services Group Limited announced directorate changes, appointment of key exectuives and change of authorised representative to cope with new strategic direction and business development with effect from June 1, 2022. Mr. Law Hin Ong Trevor has been appointed as an executive director and deputy chief financial officer of the Company; Mr. Li Shing Wai Lewis has resigned as an executive director and chief financial officer of the Company; Mr. Kwan Teng Hin Jeffrey, an existing executive director of the Company, has been promoted and appointed as deputy chief executive officer of the Company; and Mr. Li Shing Wai Lewis has ceased as an authorised representative of the Company ("Authorised Representative") pursuant to Rule 3.05 of the Rules Governing the Listing of Securities on the Stock Exchange and Mr. Cheung Wai Lim William, an executive director and chief operating officer of the Company, has been appointed as the Authorised Representative. Mr. Law, aged 31, is appointed as an executive director and deputy chief financial officer of the Company overseeing the finance and treasury function of the Group.

He has extensive experience in the fields of financial and accounting management. Mr. Law received a Master of Science Degree in Business (Finance and Accounting) from the University of Warwick, United Kingdom and a Bachelor of Science Degree in Accounting, Business, Finance and Management from the University of York, United Kingdom. He is a Certified Practising Accountant of CPA Australia.

Mr. Law has not held any other directorships in listed public companies during the three years preceding the date of this announcement. Mr. Law has entered into a service contract with the Company for a term of three years with effect from the date of his appointment and shall be terminated by three months' prior notice in writing served by either party on the other. The service contract will be renewable automatically for successive terms of three years upon expiry of the term of the appointment.

Mr. Law is subject to the retirement by rotation and re-election pursuant to the bye-laws of the Company. Mr. Law is entitled to a monthly salary of HK$70,000, plus year end discretionary bonus which will depend on his working performance, as specified in his service contract with the Company. The salary is determined by reference to his duties and responsibilities with the Company and the prevailing market rate of similar position.

Mr. Law has no relationship with any directors, senior management, substantial shareholders or controlling shareholders of the Company. Within the meaning of Part XV of the Securities and Futures Ordinance, Mr. Law has personal interests in options with rights to subscribe for 600,000 shares in the Company at the exercise price of HK$0.572 each as at the date of this announcement. Mr. Li Shing Wai Lewis has resigned from his position as an executive director and chief financial officer of the Company as he will devote more time and focus on his role as executive director and chief financial officer of Celestial Asia Securities Holdings Limited.

The Board announced that Mr. Kwan Teng Hin Jeffrey, an existing executive director of the Company, has been promoted and appointed as deputy chief executive officer of the Company with effect from 1 June 2022. He will focus on corporate management and strategic development of the Group and will also assist the Board to formulate long-term strategy of the Group. The Board also announces that Mr. Li has ceased as an Authorised Representative with effect from June 1, 2022 due to his resignation as an executive director and chief financial officer of the Company.

The Board further announces that Mr. Cheung Wai Lim William, an existing executive director and chief operating officer of the Company, has been appointed as the Authorised Representative in place of Mr. Li with effect from June 1, 2022.