Value Partners Group Limited announced that following the re-designation of Dato' Seri Cheah Cheng Hye and Mr. So Chun Ki Louis as Co-Chairmen and Co-Chief Investment Officers of the Company, the Board has resolved that with effect from 26 July 2019, Mr. Ho Man Kei, the Group's Senior Investment Director, is re-joining the Board as an Executive Director; and Dr. Au King Lun, who will serve as a President in the Group's senior management team, a member of the Leadership Committee (described below), and the Chairman of the Risk Management Committee and be responsible for the Group's corporate affairs, retires from the Board as Executive Director and Chief Executive Officer of the Company. Dr. Au ceased to be a member of the Nomination Committee and Mr. Ho has been appointed to this position in replacement of Dr. Au, with effect from 26 July 2019. Dr. Au ceased to be an Authorised Representative and Mr. Ho has been appointed to this position in replacement of Dr. Au, with effect from 26 July 2019.

The function of the chief executive of the Company will in the meantime be taken up by the Leadership Committee, currently comprising Dato' Seri Cheah, Mr. So and Dr. Au. Dr. Au has confirmed that there is no disagreement between him and the Board and there is no matter relating to his stepping down from the Board which needs to be brought to the attention of shareholders of the Company and The Stock Exchange of Hong Kong Limited. Mr. Ho, aged 52, is a Senior Investment Director of the Group, where he is a leader in the Group's investment process, including a high degree of responsibility for portfolio management.

He is also a director of certain subsidiaries of the Group.