The board of directors of Summit Ascent Holdings Limited announced that, with effect from 31 October 2018: Mr. Pang Hing Chung, Alfred has resigned as an Independent Non- executive Director and a member of the Audit Committee of the Company due to other business engagements. Mr. Pang has confirmed that he has no disagreement with the Board and there is no other matter regarding his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited and Dr. Tyen Kan Hee, Anthony has resigned as an Independent Non- executive Director, the chairman of the Audit and Nomination Committees and a member of the Remuneration and Corporate Governance Committees of the Company due to other business engagements. Dr. Tyen has confirmed that he has no disagreement with the Board and there is no other matter regarding his resignation that needs to be brought to the attention of the shareholders or the Hong Kong Stock Exchange. The board appointed Mr. Lau Yau Cheung has been appointed as an Independent Non- executive Director, the chairman of the Nomination Committee and a member of the audit and remuneration committees of the company. Lau has over 24 years of experience in business strategies and corporate finance and 6 years of experience in the securities trading business. He and corporate finance and 6 years of experience in the securities trading business. He has served in various senior management positions with both private and public companies in Hong Kong and overseas. Mr. Lau is currently an independent non- executive director and chairman of the board of the directors of Sandmartin International Holdings Limited. A winding up petition dated 5 July 2017 was filed by a petitioner against Sandmartin, which was prior to the appointment of Mr. Lau as an independent non-executive director of Sandmartin on 7 August 2017 and chairman of the board of directors of Sandmartin on 18 August 2017. As at the date Mr. Li Chak Hung has been appointed as an Independent Non-executive Director, the chairman of the Audit Committee and a member of the Corporate Governance Committee of the Company. Mr. Li has over 25 years' experience in accounting, auditing, taxation and financial management. Mr. Li is currently an independent non-executive director of DreamEast Group Limited, Asiasec Properties Limited and Sandmartin, and he was an independent non-executive director of ChinaVision Media Group Limited from September 2004 to June 2014, all of them are listed on the Hong Kong Stock Exchange.