The board of directors of Tai Kam Holdings Limited announced that the following will take effect on 6 January 2019: the resignation of Mr. Lau King Shun (" Mr. KS Lau ") as the chairman of the Board, executive Director, chief executive officer, authorised representative, compliance officer and both as a member and the chairman of the nomination committee of the company as he shall simply concentrate on the internal business operations of the company's subsidiaries; and the resignation of Ms. Ho Man Wai (" Ms. Ho ") as the company secretary, financial controller and authorised representative of the company as she wishes to devote more time to her personal commitments. Each of Mr. KS Lau and Ms. Ho has confirmed that each of them has no disagreement with the Board and that there are no matters in respect of their resignation that need to be brought to the attention of the shareholders of the company. The Board also announced that the following will take effect on 6 January 2019: the appointment of Ms. Tsui Tsz Fa Mabel (" Ms. Tsui "), an executive Director, as the chairman of the Board, chief executive officer, authorised representative, compliance officer and both as a member and the chairman of the nomination committee of the company in place of Mr. KS Lau; and the appointment of Mr. Hui Chi Kong ("Mr. Hui") as the company secretary and authorised representative of the company in place of Ms. Ho.

Ms. Tsui, aged 41, is an executive Director, a member of the remuneration committee and has extensive experience in the construction industry in Hong Kong. Prior to joining the company, Ms. Tsui has served several senior positions in engineering companies in Hong Kong and has been responsible for overall planning and management of construction projects and also supervision of construction teams since 2000. Ms. Tsui has entered into a service agreement with the company.

The principal particulars of the service agreement are commencing from 16 May 2018, which may be terminated by not less than one month's notice served by either party on the other; subject to termination provisions therein and provisions on retirement by rotation of Directors as set out in the amended and restated memorandum and articles of association of the company; and Ms. Tsui is entitled to a remuneration of HKD 180,000 per annum, which was determined with reference to her duties and responsibilities with the company. Mr. Hui, aged 37, obtained a degree of Bachelor of Business Administration in Accountancy from Hong Kong Polytechnic University in 2006 and is a member of the Hong Kong Institute of Certified Public Accountants. He has over 10 years' experience in the auditing, finance and accounting field.