The board (the "Board") of directors of National Electronics Holdings Limited announced that Mr. Sun Dai Wai David ("Mr. Sun") has been appointed as the independent non-executive Director with effect from 17 February 2022. Mr. Sun, aged 63, has extensive experience in the watch and clock industry prior to joining the Company. He has been an executive director of Sun International Limited, Sun International Trading Company Limited, Sun International Concepts Limited and AOM-Sun Limited since 1981. He was a committee member of the Watch & Clock Advisory Committee of the Hong Kong Trade Development Council from 1988 to 2007 and 2012 to 2016. He was the co-chairman of Hong Kong International Watch & Clock Fair in 1991. He has been a director of China Horologe Association since 2008. Mr. Sun is appointed by way of a letter of appointment with an initial term of three years
commencing from 17 February 2022 subject to early vacation of office with not less than three calendar months' notice in writing or payment in lieu of notice served by either the Company or Mr. Sun on the other and also subject to retirement by rotation and re-election pursuant to the bye-laws of the Company. The Board announced that (i) Mr. Sun has been appointed as the chairman of the remuneration committee of the Company (the "Remuneration Committee") and a member of each of the audit and risk management committee (the "Audit Committee") and the Nomination Committee with effect from 17 February 2022; and (ii) Mr. Chan Kwok Wai has been redesignated from a member to the chairman of the Audit Committee with effect from 17 February 2022.