The board of directors of i-Control Holdings Limited announced that Mr. Lai Hing Kwong Joseph has resigned as an independent non-executive Director, a member of the audit committee and a member of the nomination committee of the Board with effect from 13 November 2018 due to his other business engagements. Mr. Lai has confirmed to the Board that he has no disagreement with the Board and that there are no other matters in relation to his resignation that need to be brought to the attention of the shareholders of the company or The Stock Exchange of Hong Kong Limited. The Board announces that Mr. Mong Cheuk Wai has been appointed as an independent non- executive Director, a member of the audit committee and a member of the nomination committee of the Board with effect from 13 November 2018. He has over 35 years of working experience in direct investments, industrial investments, private equity funds and real estate developments. Mr. Mong started his career with Chase Manhattan Bank and joined Nan Fung Group in 1999, responsible for establishing the alternative investment business for Nan Fung Group.