Liu Chong Hing Investment Limited announced that Mr. Liu Kwun Bo, Darryl, Mr. Liu Chak Hung, Adrian, and Mr. Liu Kwun Hung, Tiger have been appointed by the Board as Executive Directors of the Company with effect from 10 August 2023. Mr. Liu Kwun Bo, Darryl (formerly known as Liu Shui Leung, Darryl and Liu Chak Tong, Darryl) (``Mr. Darryl Liu''), aged 30, joined the Group in July 2016. Since July 2021, he has held the position of Director, leading The Rockpool project and F&B of hospitality management. In recent years, Mr. Darryl Liu has driven significant projects of the Company by playing a pivotal role in the transformative redevelopment of The Rockpool, a local community mall which evolved from Chong Yip Centre located in Shek Tong Tsui, in 2019. He also demonstrated his exceptional leadership in the creation of The Praya, a contemporary restaurant located within the Group's One-Eight-One Hotel & Serviced Residences (``181 Hotel''), which marries traditional Chinese cuisine with modern culinary trends, in 2023. Mr. Darryl Liu is the grandson of Mr. Liu Lit Chi, the Chairman, Managing Director and Chief Executive Officer of the Company, the nephew of Mr. Liu Kam Fai, Winston, Deputy Managing Director of the Company, the cousin of Mr. Adrian Liu, an Executive Director, the brother of Mr. Tiger Liu, an Executive Director, and the nephew of Ms. Eva Liu, Head of Property Development of the Company. He is also a director of Alba Holdings Limited, a substantial shareholder of the Company. Save as disclosed above, Mr. Darryl Liu does not have any relationship with any other directors, senior management, substantial or controlling shareholders of the Company as defined in the Listing Rules. Mr. Darryl Liu is a director of 15 subsidiaries of the Group, including the principal subsidiaries Choengmon Real Estate Company Limited, Foshan Nanhai Hugh Glory Property Development Company Limited, Foshan Top New Property Development Company Limited, Guangzhou Trade Castle Property Consultancy Limited, Guangzhou Wealth Smart Property Management Company Limited and Shanghai Huang Pu Liu Chong Hing Property Development Company Limited.
Prior to his appointment as an Executive Director, Mr. Darryl Liu has entered into an employment agreement with the Company with no fixed term. For the year ended 31 December 2022, the emoluments of Mr. Darryl Liu consisted of an annual salary of HK$1,721,973 and other benefits which were determined with reference to his duties and responsibilities and the prevailing market conditions. For the year ending 31 December 2023, Mr. Darryl Liu will be entitled to a pro rata director's fee of HK$200,000 per annum on top of his annual salary and other benefits, which is not covered by a written agreement. As an Executive Director, Mr. Darryl Liu is subject to retirement and re-election pursuant to the Articles of Association of the Company (the ``Articles''). In accordance with the
Articles, Mr. Darryl Liu shall hold office until the next following annual general meeting of the Company and shall then be eligible for re-election.