The board of directors of Summit Ascent Holdings Limited announced that Mr. Tsui Yiu Wa, Alec has resigned as an independent non-executive director, the chairman of the remuneration and corporate governance committees and a member of the audit and nomination committees of the company due to other business engagements with effect from 28 September 2018. The board also announced that, with effect from 28 September 2018, Mr. Gerard Joseph McMahon has been appointed as an independent non-executive director, the chairman of the remuneration and corporate governance committees and a member of the audit and nomination committees of the company. Mr. McMahon is qualified as a barrister in Hong Kong and New South Wales, Australia. He specialized in Hong Kong company law, securities and banking laws and takeovers and mergers regulations. Mr. McMahon is also a non-executive director and the chairman of the board of directors of Indonesian Investment Fund Limited till 21 May 2018 when it was delisted.