Cheuk Nang (Holdings) Limited announced that Mr. Ting Woo Shou Kenneth ("Mr. Ting") has resigned as an independent non-executive Director and a member of the Nomination Committee of the Company with effect from 29 February 2024 as he wishes to devote more time to his personal pursuits. Following his resignation, Mr. Ting does not hold any position in the Group. The Board announces that Mr. Chao Howard ("Mr. Chao") originally a non-executive Director of the Company, has been re-designated as an executive Director of the Company with effect from 29 February 2024.

Mr. Chao, aged 40, holds a Master of Science Degree in Real Estate from the University of Greenwich and a Bachelor of Arts Degree in Business Administration from California State University, Fullerton and was awarded a Certified of Completion for the Leadership Programme on Real Estate Sustainability by the University of Cambridge Institute for Sustainability Leadership. Mr. Chao has over 18 years of experience in real estate development, construction, corporate finance and asset management covering the region of Hong Kong, Mainland China, Malayasia and Macau. In 2021, Mr. Chao was a running candidate for office of the Legislative Council Election, under the functional constituency of Real Estate and Construction Sector.

Mr. Chao is currently the Chief Executive Officer of Maximus Capital Management Limited, Maximus Surveyors Limited, Maximus Property Management Ltd. He is also an independent non-executive director of Mexan Limited, a company listed on the Main Board of the Stock Exchange (Stock Code: 22). Save as disclosed herein, Mr. Chao does not hold other directorship in public companies the securities of which are listed on any securities market in Hong Kong or overseas during the three years preceding the date of his re-designation. Mr. Chao is also a member of the Chinese People's Political Consultative Conference of Chongqing, Hong Kong Southern District Council Member, Committee Member and the Vice-Chairman of Young Executives' Committee of the Chinese General Chamber of Commerce, Advisor of the Hong Kong Foundation, Director of the Hong Kong Securities Association, Vice-President of the Hong Kong Foundation, Director of the Hong Kong Securities Association, Vice-President of the Hong Kong Chongqing Friendship Federation and the Convenor of the Hong Kong Real Estate and Concerned Group, and a member of the Hong Kong Real Property Federation.

Mr. Chao is the elder son of Dr. Chao Sze Tsung Cecil, the Group Executive Chairman, and Executive Director and the controlling shareholder of the Company, and is the brother of Ms. Chao Gigi, an executive Director of the Company. Mr. Chao does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).