The board of directors of P.B. Group Limited announces that Mr. YIP Chong Ho Eric will be appointed as the independent non-executive Director, the chairman of the audit committee (the "Audit Committee"), the chairman of the remuneration committee (the "Remuneration Committee") and the member of the nomination committee (the "Nomination Committee") of the company with effect from 23 April 2021. Mr. Yip, aged 31, holds a degree of Bachelor of Business Administration in Professional Accounting from The Open University of Hong Kong. Mr. Yip is a member of Hong Kong Institute of Certified Public Accountants. He has over 6 years of working experience in the field of accounting and finance. He is currently the audit manager of a professional accountants firm. Prior to that, Mr. Yip worked for several professional accountants firm for 4 years and the accounting department of a securities firm for about 2 years. Mr. Yip has entered into a letter of appointment with the Company for a term of one year commencing on 23 April 2021 and is subject to retirement and re-election at general meetings in accordance with the Company's Articles of Association. Mr. Yip is entitled to a director's fee of HK$120,000 per annum or such other sum as the Board and/or the Remuneration Committee may from time to time determine based on his level of responsibilities and by reference to market benchmark. The Board also announces that Mr. LEE Ming Tung ("Mr. Lee") has tendered his resignation as an independent nonexecutive Director, the chairman of the Audit Committee, the chairman of the Remuneration Committee and the member of Nomination Committee with effect from 23 April 2021 due to his other business engagement. Mr. Lee has confirmed that he has no disagreement with the Board and there are no other matters in relation to the resignation of Mr. Lee that should be brought to the attention of the Stock Exchange and the shareholders of the Company. The Board would like to take this opportunity to express its sincere gratitude to Mr. Lee for his contributions towards the Company during his tenure of office and its warmest welcome to Mr. Yip for joining the Board.