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TLT LOTTOTAINMENT GROUP LIMITED(Incorporated in Hong Kong with limited liability)
(Stock Code: 8022) (1) CHANGE OF DIRECTORS; AND (2) CHANGE OF CHAIRMAN AND MEMBERS OF THE AUDIT COMMITTEE, THE REMUNERATION COMMITTEE AND THE NOMINATION COMMITTEE
The Board is pleased to announce that Mr. Lau has tendered his resignation as the independent non-executive Director, and will, ipso facto, cease to be the chairman of the audit committee and the remuneration committee and also members of the audit committee, the remuneration committee and the nomination committee with effect from 16 January
2014.
The Board is also pleased to announce that (i) Mr. Yiu has been appointed as an independent non-executive Director and members of the audit committee, the remuneration committee and the nomination committee with effect from 16 January 2014; and (ii) Mr. Liu has been appointed as an independent non-executive Director, the chairman of the audit committee and the remuneration committee and member of the nomination committee with effect from 16 January 2014.
The board (the "Board") of directors (the "Directors") of TLT Lottotainment Group Limited (the " Company ", together with its subsidiaries, the " Group ") is pleased to announce that Mr. Lau Shu Yan ("Mr. Lau") has tendered his resignation as the independent non- executive Director and will, ipso facto, cease to be the chairman of the audit committee and the remuneration committee and also members of the audit committee, the remuneration committee and the nomination committee of the Company with effect from 16 January 2014 as he would like to pursue other career development opportunity.
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Mr. Lau has confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.
The Board would like to take this opportunity to express its sincere gratitude to Mr. Lau for his valuable contributions to the Company during his tenure of service and wish him all the best in the future.
The Board is also pleased to announce that Mr. Yiu Yuen Kai ("Mr. Yiu") and Mr. Liu Kwong Sang ("Mr. Liu") has been appointed as independent non-executive Directors with effect from 16 January 2014.
The biographic details of Mr. Yiu and Mr. Liu are as follows:
Mr. Yiu, aged 54, graduated from King's College in 1977. He had served as director in Sportstation, Olympic Square and Oi Man Bookshop in pass 10 years. Mr. Yiu has over 30 years' experience in marketing sales, employee training and sales management.
Mr. Yiu has not entered into a service contract with the Company. In accordance with the articles of association of the Company, Mr. Yiu is subject to retirement by rotation and re-election at the Company's general meetings. Mr. Yiu will receive a Director's fee of HK$120,000 per annum which is determined with reference to his duties and responsibilities with the Company, the Company's performance and the prevailing market situation. The Director's fee for Mr. Yiu will be reviewed annually by the Board with reference to his duties and responsibilities with the Company, the Company's performance and the prevailing market situation.
Mr. Liu, aged 51, has been practising as a Certified Public Accountant in Hong Kong with more than 24 years of experience. Mr. Liu graduated with honours from the Hong Kong Polytechnic University with a bachelor degree in Accountancy and obtained the master in business administration degree from the University of Lincoln, the United Kingdom. He is an associate member of the Institute of Chartered Accountants in England and Wales, fellow members of the Association of Chartered Certified Accountants, Institute of Financial Accountants, the United Kingdom, the Institute of Public Accountants, Australia, the Hong Kong Institute of Certified Public Accountants, the Taxation Institute of Hong Kong, a Certified Tax Adviser, and the Society of Registered Financial Planners.
Mr. Liu is currently an independent non-executive directors of Polytec Asset Holdings Limited ({!5f
