The board of directors of Summit Ascent Holdings Limited announced that Mr. Eric Daniel Landheer ("Mr. Landheer") has tendered a notice of resignation dated 23 March 2020 (the "Resignation Notice") with effect from the date thereof, pursuant to which he resigned as (i) the Executive Director; (ii) an authorised representative (the "LR Authorised Representative") of the Company under Rule 3.05 of the Rules Governing the Listing of Securities of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"); (iii) an authorised representative for accepting service of process and notices on behalf of the Company in Hong Kong as required under the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the "CO Authorised Representative", together with the LR Authorised Representative, collectively, the "Authorised Representatives"); and (iv) other positions in the subsidiaries of the Company (the "Resignation") due to his personal disagreement on the strategic business development directions with the Board as set out in the Resignation Notice. The Company received the Resignation Notice from Mr. Landheer on 23 March 2020 and decided to exercise its discretion to terminate his employment with the Company of even date by payment in lieu of notice in accordance with the terms of the relevant employment agreement. Mr. Landheer ceased to hold any position within the Group following the Resignation. The Board also announced that following the resignation of Mr. Landheer as the Authorised Representatives, Mr. Chiu King Yan, an existing Executive Director of the Company, has been appointed as the Authorised Representatives with effect from 23 March 2020.