The board of directors of Kwan On Holdings Limited announced that Mr. Wong Wa an executive director of the Company, has not attended any Board meetings since 29 November 2019 and the Company is unable to contact him. Pursuant to Article 86(3) of the Articles of Association of the Company, the office of a director shall be vacated if the director, among other things, without special leave of absence from the Board, is absent from meetings of the Board for six consecutive months, and his alternate director, if any, shall not during such period have attended in his stead and the Board resolves that his office be vacated. Based on the reason as set out above, the office of Mr. Wong as an executive director of the Company has been vacated on 4 September 2020 by resolution of the Board (the "Resolution") in accordance with Article 86(3) of the Articles of Association of the Company. Upon the passing of the Resolution, Mr. Wong has ceased to be an executive director of the Company with immediate effect.