The board of directors of National Arts Entertainment and Culture Group Limited (‘Company’, together with its subsidiaries, the ‘Group’) announced that with effect from 22 July 2021, Mr. Sin Kwok Lam (‘Mr. Sin’) resigned as the chairman of the Company (‘Chairman’) and an executive Director. Upon his resignation, Mr. Sin ceased to act as a member and the chairman of the nomination committee (‘Nomination Committee’) of the Board. Mr. Sin tendered his resignation as the Chairman and an executive Director since he will devote more of his time to social service. Following Mr. Sin's resignation, Mr. Chow Kai Weng (‘Mr. Chow’), the Associate Chairman of the Company (‘Associate Chairman’) and an executive Director, has been appointed as the Chairman and a member and the chairman of the Nomination Committee in place of Mr. Sin with effect from 22 July 2021. Mr. Chow, joined the Group in January 2010. Mr. Chow holds a Bachelor Degree of Business Administration with previous experiences in media and financial industries. Mr. Chow was appointed as an executive Director on 25 March 2011 and as the Associate Chairman on 4 May 2018. Mr. Chow is also a director of a number of subsidiaries of the Company.