Alco Holdings Limited announces that Mr. YIP, Wing Shing has notified the Board of his plan of retirement and will retire as executive director of the Company with effect from 9 September 2022. The Board also announced that, with effect from 9 September 2022, Ms. Choi Ka Ying resigned as an independent non-executive director of the Company as she has other work arrangement. Ms. Choi also resigned as the chairman of the audit committee of the Company, a member of the nomination committee of the Company and a member of the remuneration committee of the Company.

The Board also announced that with effect from 9 September 2022, Mr. Chu Hoi Kan has been appointed as an INED, the chairman of the Audit Committee, a member of the Nomination Committee and a member of the Remuneration Committee. Mr. Chu, aged 35, has over 10 years of experience in the accounting and corporate finance industries. He is currently an associate director in Honestum International Limited performing corporate finance advisory work since January 2019.

Prior to that, he was mainly engaged in corporate finance advisory work at CLC International Limited from December 2012 to January 2019 with his last position as a manager. He also gained accounting experience from Deloitte Touche Tohmatsu from October 2010 to November 2012, with his last position as an audit senior in the audit function. Mr. Chu obtained a degree of Bachelor of Business Administration in Finance and Professional Accounting with first class honors from the Hong Kong University of Science and Technology in November 2010.

He has been certified as a member of the Hong Kong Institute of Certified Public Accountants since September 2014.