Summit Ascent Holdings Limited announced that Mr. Chau Cheok Wa ('Mr. Chau') indicated his intention to resign from the posts of the chairman of the board of directors and a non-executive Director of the Company. The Board announced that a letter was received from Mr. Chau, tendering his resignation from the posts of the chairman of the Board and a non-executive Director with effect from 1 December 2021, for the reason that his resignation would (in view of the pending legal proceedings against him) be in the best interests of the Company, and also allow him to devote more time for his personal matters.