Silk Road Logistics Holdings Limited announced that with effect from 11 December 2023, Mr. Lam Tin Faat ("Mr. Lam") has been re-designated from an independent non-executive Director to an executive Director and appointed as a member of the executive committee of the Company. Mr. Lam, aged 47, was appointed as an independent non-executive Director, the chairman of the Nomination Committee and a member of each of the Audit Committee and the Remuneration Committee on 11 September 2023. Mr. Lam holds a bachelor degree of business administration from The Chinese University of Hong Kong.

He has more than 10 years of experience in financial audit, accounting and financial management. He is a fellow member of the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants in the United Kingdom and a member of the Institute of Chartered Accountants in England and Wales. Mr. Lam is also the sole proprietor of TF Lam & Company, a CPA practice in Hong Kong, and a director of Top Team Secretary Limited.

Mr. Lam was an independent non-executive director of Yu Tak International Holdings Limited from July 2012 to June 2023, the shares of which are listed on GEM of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). Mr. Lam was an independent non-executive director of Centron Telecom International Holding Limited from April 2018 to February 2020. Centron was incorporated in the Cayman Islands and its principal business activities are investment holding.

On 25 April 2018, a petition was filed with the High Court of Hong Kong for the winding up of Centron in connection with the failure of Centron to settle the sum of HK$31,378,627.40. On 25 May 2018, Centron filed a petition in the Grand Court of the Cayman Islands for an order that Centron be wound up, and in conjunction with the petition for winding up, Centron filed a summons for appointment of joint provisional liquidators of Cayman Islands on the grounds that it was unable to pay its debts and intended to present a compromise or arrangement to its creditors. Joint provisional liquidators were appointed in June 2018.

Its provisional liquidation procedures in the Cayman Islands have commenced since 12 June 2018, and to the best of his knowledge, are still in progress. Mr. Lam was an independent non-executive director of Tenwow International Holdings Limited from November 2018 to February 2021. Tenwow was incorporated in the Cayman Islands and its principal business activities are investment holding.

In November 2018, a petition was filed with the Grand Court by a creditor for winding up of the Company in respect of an outstanding sum of USD 100,000 and seeking the appointment of joint official liquidators. Tenwow filed the application seeking the appointment of liquidators on a light touch basis for the purpose of restructuring, as an alternative to compulsory liquidation. Joint provisional liquidators were appointed in November 2018.

Its provisional liquidation procedures in the Cayman Islands have commenced in 2018, and to the best of his knowledge, are still in progress. Following the re-designation of Mr. Lam as disclosed above, the composition of the Board committees has changed with effect from 11 December 2023 as follows: (1) Mr. Lam has ceased to be the chairman of the nomination committee of the Company and a member of each of the audit committee of the Company (the "Audit Committee") and the remuneration committee of the Company; and (2) Mr. Chu Kin Wang Peleus ("Mr. Chu"), an independent non-executive Director and the chairman of the Audit Committee and a member of each of the Nomination Committee and the Remuneration Committee, has been appointed as the chairman of the Nomination Committee.