Imperial Pacific International Holdings Limited announces that Mr. Luk Chi Shing resigned as an independent non-executive Director, a member of each of the audit committee of the Company (the "Audit Committee"), the remuneration committee (the "Remuneration Committee") and nomination committee (the "Nomination Committee") of the Company with effect from 1 June 2023 and Mr. Chi Yuan has resigned as an independent non-executive Director, the chairman of each of the Audit Committee, the Remuneration Committee and the Nomination Committee with effect from 10 October 2023. Each of Mr. Luk and Mr. Chi has confirmed that, save for the outstanding director's fee owing by the Company to Mr. Luk, each of them has no disagreement with the Board in any respect and there is no matter relating to the Resignations that need to be brought to the attention of the shareholders of the Company (the "Shareholders") and/or The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). The Board announced that, with effect from 10 October 2023, Dr. Chew Chee Wah, Mr. Lum Pak Sum and Mr. See Lee Seng, Reason have been appointed as independent non-executive Directors. Following the appointment, Mr. Lum will become the chairman of each of the Audit Committee, the Remuneration Committee and the Nomination Committee; each of Dr. Chew and Mr. See will become a member of each of the Audit Committee, the Remuneration Committee and the Nomination Committee. The biographies of the new independent non-executive directors are set out in the paragraphs below: Mr. Lum holds a master degree in business administration from the University of Warwick, UK and a LLB (Honor) degree from the University of Wolverhampton, UK. He is currently a fellow member of the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants, UK. Mr. Lum has over 25 years' experience in the compliance, financial field, the money market and capital market.
Mr. Lum has been the non-executive director and/or independent non-executive director in companies, which shares are listed on the Stock Exchange. Mr. Lum served in bank and financial groups with securities dealing, commodities, corporate finance & asset management. He has been a qualified responsible officer licensed under the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong) ("SFO") to carry out type 4 (advising on securities), type 6 (advising on corporate finance) and type 9 (asset management) regulated activities. He has completed corporate transactions, including IPOs, merger & acquisitions, funding raising, financial advisory, resumption and restructuring, for listed companies in the last 20 years engaging in the licensed business in Hong Kong. Dr. Chew, aged 59, holds a Doctor of Philosophy in Business Administration from Nueva Ecija University of Science and Technology in the Republic of the Philippines. Dr. Chew is a fellow member of the Australia Association of Taxation and Management Accountants. Dr. Chew has accumulated over 30 years of extensive working experience in corporate management, advisory and restructuring. From 11 July 2021 to 7 February 2022, Dr. Chew was the Chief Operating Officer and from 8 February to 18 May 2022, Dr Chew was the Chief Investment Officer of Solomon Financial Press Limited, a subsidiary of Jisheng Group Holdings Limited, a GEM listed company in Hong Kong (stock code: 8133). On 28 March 2017, Dr. Chew was appointed as an executive director of Natural Dairy (NZ) Holdings Limited ("Natural Dairy"), a company previously listed on the main board of Hong Kong (stock code: 462), and was primarily responsible for the restructuring of the Company. Prior to the appointment of Dr. Chew, Natural Dairy was in provisional liquidation since 22 December 2016 and the listing of the shares of Natural Dairy was cancelled on 28 November 2022. On 22 May 2014, Dr. Chew was appointed as an executive director of Tai Shing International(Holdings) Limited (now known as HMVOD Limited), a company listed on GEM of Hong Kong (stock code: 8103) and was the chairman of the board of directors of the Company from 29 July 2014 to 29 April 2016. Dr. Chew was appointed as the chairman and non-executive director of Golden Shield Holdings (Industrial) Limited ("Golden Shield") a company previously listed on the main board of Hong Kong (stock code: 2123), from 19 November 2014 to 11 May 2015, and was primarily responsible for overseeing the restructuring exercise and legal proceedings. The listing of the shares of Golden Shield was cancelled on 2 August 2021. From December 2011 to April 2014, Dr. Chew worked in Shenzhen, the People's Republic of China as a manager in the corporate finance advisory department of Deloitte. Biography of Mr. See Mr. See holds a Master of Science in Corporate Governance and Directorship from Hong Kong Baptist University in 2006. He has over 40 years of experience in fund and portfolio management, securities dealing and investment advisory services over the bullion, forex, units trusts, equity and commodity futures markets. Mr. See has held various executive positions of the Hong Kong Securities Professionals Association since 1996 and is currently its committee member. Mr. See works as the managing director of Silverbricks Asset Management Limited and the licensed representative of the corporation licensed under the SFO to carry out type 1 (dealing in securities), type 2 (dealing in futures contracts), type 4 (advising on securities),type 6 (advising on corporate finance) and type 9 (asset management) regulated activities. The Board further announces that with effect from 10 October 2023, the composition of the Board committees has been changed as follows: Audit Committee Mr. Lum Pak Sum (Committee Chairman) Dr. Chew Chee Wah Mr. See Lee Seng, Reason. Nomination Committee: Mr. Lum Pak Sum (Committee Chairman) Dr. Chew Chee Wah Mr. See Lee Seng, Reason, Remuneration Committee: Mr. Lum Pak Sum (Committee Chairman) Dr. Chew Chee Wah Mr. See Lee Seng, Reason.