Silk Road Logistics : Announcements and Notices - RESIGNATION OF NON-EXECUTIVE DIRECTOR AND APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND CHANGE OF COMPOSITION OF THE BOARD COMMITTEES

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Silk Road Logistics Holdings Limited

絲路物流控股有限公司

(Incorporated in Bermuda with limited liability)

(Stock Code: 988)

RESIGNATION OF NON-EXECUTIVE DIRECTOR

AND

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

AND

CHANGE OF COMPOSITION OF THE BOARD COMMITTEES

The Board announces the following changes with effect from 14 December 2021:

1. Mr. Choi has resigned as a non-executive Director; and
2. Ms. Ang was appointed an independent non-executive Director and a member of each of the Audit Committee, the Nomination Committee and the Remuneration Committee.

RESIGNATION OF NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors", each a "Director") of Silk Road Logistics Holdings Limited (the "Company") announces that Mr. Choi Wai Hong Clifford ("Mr. Choi") has resigned as a non-executive Director with effect from 14 December 2021 as he would like to pursue other business developments.

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Mr. Choi has confirmed that (i) he has no disagreement with the Board; and (ii) there is no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

The Board expresses its gratitude to Mr. Choi for his valuable contributions to the Company during his term of service.

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND CHANGE

OF BOARD COMMITTEES

The Board is pleased to announce that Ms. Ang Mei Lee Mary ("Ms. Ang") was appointed as an independent non-executive Director and a member of each of the audit committee (the "Audit Committee"), the nomination committee (the "Nomination Committee") and the remuneration committee (the "Remuneration Committee") of the Company with effect from 14 December 2021.

The biographical details of Ms. Ang is as follows:

Ms. Ang, aged 57, obtained her diploma in accounting from City Polytechnic of Hong Kong (currently known as City University of Hong Kong). She is also an Accredited Accounting Technician (AAT) in Hong Kong and qualified with Association of Chartered Certified Accountants (ACCA) Diploma level 2. Ms. Ang has 23 years of experience as a professional auditor in Anthony Lui & Co, CPA and Fung & Lui, CPA. She also has extensive experience in company management and business operations.

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Ms. Ang served as an executive director of Hong Kong Resource Holdings Limited (stock code: 2882) from August 2008 to October 2008, an executive director of Zhidao International (Holdings) Limited (stock code: 1220) from September 2008 to January 2012, and a non-executive director of Hifood Holdings Co., Limited (stock code: 442) from July 2021 to November 2021, all companies are listed on the Main Board of the Stock Exchange. Ms. Ang was a non-executive director of Freeman Fintech Corporation Limited (now known as Arta Techfin Corporation Limited, "Arta", stock code: 279) from December 2020 to October 2021. As stated in the announcements of Arta, provisional liquidators were appointed and trading in its shares on the Stock Exchange was suspended from 28 February 2020 and would remain suspended pending fulfilment of the resumption conditions and such other further conditions that imposed or might be imposed by the Stock Exchange. According to the announcement of Arta dated 29 October 2021, Arta would fulfill all the resumption conditions imposed by the Stock Exchange on 1 November 2021 upon the dismissal of the petition and the discharge of the provisional liquidator on the same day pursuant to the order granted by the High Court of Hong Kong on 4 October 2021. Trading in the shares of Arta on the Stock Exchange has resumed on 1 November 2021. Based on the information published by Arta, Arta and its subsidiaries have principally been engaged in the financial services sector. Arta was incorporated in the Cayman Islands. Ms. Ang informed that she was appointed as a non-executive director of Arta after the appointment of provisional liquidator and suspension of trading of its shares on the Stock Exchange. There was no wrongful act on her part leading to the appointment of provisional liquidators of Arta.

Ms. Ang will enter into a service agreement with the Company for a term of one year, she is subject to retirement by rotation in accordance with the Bye-Laws of the Company and the Listing Rules. The service agreement can be terminated by either party by giving the other party one month's written notice in advance or otherwise in accordance with the terms of the service agreement. Ms. Ang will hold office until the first general meeting of the shareholders of the Company after her appointment and will then be eligible for re-election at such meeting. Ms. Ang is entitled to remuneration of HK$150,000 per annum, which is determined with reference to her duties and responsibilities within the Company, the Company's remuneration policy and the prevailing market conditions. Ms. Ang is not entitled to any bonus payment by the Company.

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Save as disclosed above, Ms. Ang has not held any directorship in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years preceding the date of this announcement. Ms. Ang does not hold any other positions in the Company and its subsidiaries and does not have any relationship with any Directors, senior management, substantial shareholders or controlling shareholders of the Company. As at the date of this announcement, Ms. Ang does not have any interests in the shares or underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance Chapter 571 of the Laws of Hong Kong.

Save as disclosed above, the Company is not aware of any matters that needs to be brought to the attention of the shareholders of the Company in relation to the appointment of Ms. Ang and there is no other information which is required to be disclosed pursuant to any of the requirements set out in Rules 13.51(2)(h) to (v) of the Listing Rules.

The Board would like to extend its warmest welcome to Ms. Ang.

By order of the Board

Silk Road Logistics Holdings Limited

Cheung Ngai Lam

Executive Director

Hong Kong, 14 December 2021

As at the date of this announcement, the Board comprises two executive Directors, namely Mr. Cheung Ngai Lam and Mr. Chung Wai Man; one non-executive Director, namely Ouyang Nong; and four independent non-executive Directors, namely Ms. Choy So Yuk, Mr. Wu Zhao, Chen Wai Chung Edmund and Ms. Ang Mei Lee Mary.

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