The Board of Polyard Petroleum International Group Limited announced that Mr. Zhao Zhiyong has resigned as Executive Director and the Chairman of the Board of the Company due to his own personal affairs and reasons with effect from 31 May 2022. The Board also announces that Mr. Wang Xiaoyu has resigned as an Independent Non-executive Director and the member of the Remuneration Committee to the Board of the Company due to his personal business arrangement with effect from 31 May 2022. The Board further announces that Mr. Chan Shiu Chung has been appointed as Independent Non-executive Director, and the member of the Remuneration Committee to the Board of the Company with effect from 1 June 2022. Mr. Chan, aged 37, holds an MBA degree, majoring in international business from the University of Greenwich and graduated from the University of Hong Kong with a bachelor's degree in arts. He also completed a professional diploma in corporate governance and directorship from the Hong Kong Institute of Directors & Hong Kong Productivity Council and is a person licensed by HKSFC for Type 1, 4 and 9 regulated activities as well as is experienced in MNC corporate operation management, assets management, compliance, risk management, fund raising, IPOs, etc. At present, he works as General Manager and Manager-in-charge of Finance & Accounting and Information Technology in Emperio Securities And Assets Management Ltd, Emperio Group. He currently acts as the vice chairman of Youth Affairs Committee of Guangdong-Hong Kong-Macau (Shanxi) Trade Promotion Association, a standing committee member of Hong Kong Chido Association and a member of Hong Kong CPPCC Youth Association.
Mr. Chan has accepted an appointment offered by the Company for a term of one year which may be terminated by either party thereto giving to the other not less than one calendar month's prior notice in writing. He is entitled to a fixed monthly fee of HKD 6,000 which is determined by arm's length negotiation between Mr. Chan and the Company. Mr. Chan shall hold office only until the next following general meeting and shall be eligible for re-election at that meeting, and is subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the articles of association of athe Company.