DCB Holdings Limited announce that Mr. Chui has been appointed as an executive director of the Company with effect from 23 December 2021. Mr. Chui joined the Hong Kong Government as Surveying Assistant III in 1974 and retired in 2013 from the position of Chief Survey Officer in the Planning Department. Since November 2021, Mr. Chui has been appointed as a director of a subsidiary of the Company. Mr. Chui received a Medal of Honour in 2014. In view of Mr. Chui's extensive management experience and exposure in the field of planning and development surveying, the Board believes that having Mr. Chui on board would help expand on the Company's existing fitting-out and renovation business and other new businesses. Mr. Chui is appointed as an executive director for an initial term of three years commencing from 23 December 2021, unless terminated by either party giving to the other not less than three months' prior notice in writing or payment in lieu of notice. His appointment is subject to the retirement by rotation and re-election at annual general meeting in accordance with the bye-laws of the Company. Mr. Chui is entitled to receive a discretionary performance bonus and share compensation by the Company as remuneration, if any, with reference to his responsibilities and performance, remuneration benchmark in the industry as well as prevailing market conditions. The Board announced that Prof. Leung has been appointed as a non-executive director of the Company with effect from 23 December 2021. Prof. Leung obtained a Bachelor of Science degree and a Doctor of Philosophy degree from The University of Hong Kong in 1982 and 1988 respectively. Prof. Leung has more than 30 years of experiences in engineering. He worked as an assistant environmental engineer of Hong Kong Electric Company from 1988 to 1989 and was later promoted and worked as environmental engineer between 1989 and 1993. Prof. Leung joined the Department of Mechanical Engineering in The University of Hong Kong in 1993 and is currently the Head of Department of Mechanical Engineering in The University of Hong Kong. He is currently fellow members of Institution of Mechanical Engineers, Energy Institute, and Hong Kong Institute of Engineers. In view of Prof. Leung's extensive management experience and exposure in the field of engineering, the Board believes that Prof. Leung will be able to provide valuable advices on the Company's existing fitting-out and renovation business and other new businesses. Prof. Leung is appointed as a non-executive director for an initial term of three years commencing from 23 December 2021, unless terminated by either party giving to the other not less than three months' prior notice in writing or payment in lieu of notice. His appointment is subject to the retirement by rotation and re-election at annual general meeting in accordance with the bye-laws of the Company. Prof. Leung is entitled to receive a discretionary performance bonus and share compensation by the Company as remuneration, if any, with reference to his responsibilities and performance, remuneration benchmark in the industry as well as prevailing market conditions. The Board announces that Mr. Chu has resigned as an independent non-executive Director, and a member of each of the audit committee, the remuneration committee and the nomination committee of the Company with effect from 23 December 2021 due to his decision to devote more time to his other businesses and personal affairs. Mr. Chu has confirmed that he has no disagreement with the Board and there are no matters relating to his resignation that needs to be brought to the attention of the shareholders of the Company and the Stock Exchange. The Board would like to take this opportunity to express its sincere gratitude to Mr. Chu for his valuable contributions to the Company during his tenure of office. The Board announced that Mr. Chow has been appointed as an independent non-executive Director and a member of each of the audit committee, the remuneration committee and the nomination committee of the Company, with effect from 23 December 2021. Mr. Chow, aged 66, has obtained a diploma in business management studies awarded jointly by The Hong Kong Polytechnic University and The Hong Kong Management Association in 1993. Mr. Chow joined the Hong Kong Police Force in 1974 as a police constable and retired in 2010 from the position of Superintendent of Hong Kong Police Force. Mr. Chow does not hold any other position within the Group and has not held any directorship in any other public listed company in the past three years. Mr. Chow entered into a letter of appointment with the Company for a fixed term of three years commencing on 23 December 2021 and is subject to retirement by rotation and re-election at annual general meeting in accordance with the bye-laws of the Company. Pursuant to his letter of appointment, Mr. Chow is entitled to receive a discretionary performance bonus and share compensation by the Company as remuneration, if any, with reference to his responsibilities and performance, remuneration benchmark in the industry as well as prevailing market conditions.