Great Harvest Maeta Holdings Limited announced that Ms. Zhao Lihong has tendered her resignation as an executive Director with effect from 28 April 2023 due to health reason. The Board announced that Mr. Pan Zhongshan has been appointed as an executive Director with effect from 28 April 2023. Mr. Pan, aged 58, has been responsible for the operation management of the Group's shipping business since January 2022.

Mr. Pan has 36 years of experience in the maritime industry. Mr. Pan graduated from Dalian Maritime University with a bachelor degree of Navigation in ocean-going profession driving. Before joining the Group, he had worked for China COSCO Shipping Corporation Limited in Qingdao Branch as third mate, second mate, chief mate and captain of ocean-going vessel from 1986 to 2002.

Mr. Pan joined Hong Kong Lihai International Shipping Limited as deputy general manager since 2002 and was its managing director from 2006 to 2019. Pursuant to the service agreement entered into between the Company and Mr. Pan dated 28 April 2023, Mr. Pan was appointed as an executive Director for an initial fixed term of three years commencing from 28 April 2023 renewable automatically for successive terms of one year each commencing from the day immediately after the expiry of the then current term of appointment, until terminated as contemplated pursuant to the termination provisions therein, or by not less than six months' written notice served by either party expiring at the end of the initial term of his appointment or any time thereafter. His appointment is subject to the rotational retirement and re-election requirements at the annual general meetings of the Company pursuant to the articles of association of the Company.

Mr. Pan is not entitled to any remuneration under his service agreement with the Company. Mr. Pan has also entered into an employment contract with Union Apex Mega Shipping Limited, a direct wholly-owned subsidiary, of the Company in January 2022, pursuant to which he is entitled to an annual remuneration of HKD 960,000, subject to annual review at the end of each financial year of the Company. The emolument of Mr. Pan is determined by the Board with reference to Mr. Pan's qualifications, experience, duties and responsibilities with the Group, as well as the Group's performance and the prevailing market conditions, and will be reviewed annually.

As at the date of this announcement, Mr. Pan held 602,500 shares of the Company.