The board of directors of Power Financial Group Limited announced the following changes: Mr. Choi Chun Chung, Danny ("Mr. Choi") has tendered his resignation as the executive director ("Executive Director"), the chairman ("Chairman"), the chairman and a member of the nomination committee ("Nomination Committee"), a member of the remuneration committee ("Remuneration Committee") of the Company and an authorised representative of the Company, with effect from 30 September 2022 due to his other business and personal commitments. Following his resignation, Mr. Choi will act as an advisor to the Group with effect from 1 October 2022. The Board announced that Mr. Li Wing Cheong ("Mr. Li"), an Executive Director, has been appointed as (i) the Chairman and (ii) an Exchange Authorised Representative with effect from 30 September 2022, to fill the casual vacancy as a
result of Mr. Choi's resignation. In contemplation of the resignation of Mr. Choi, Mr. Li has been appointed as the
chairman and a member of the Nomination Committee and a member of the
Remuneration Committee, with effect from 30 September 2022.