Hong Kong Education 'l Investments : CHANGE OF EXECUTIVE DIRECTOR

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Hong Kong Education (Int'l) Investments Limited

香 港 教 育（ 國 際 ）投 資 集 團 有 限 公 司

(Incorporated in the Cayman Islands and continued in Bermuda with limited liability)

(Stock Code: 1082)

CHANGE OF EXECUTIVE DIRECTOR

The Board announces that with effect from 15 April 2021, Mr. Wong resigned as an executive Director and Mr. Yip has been appointed as an executive Director.

RESIGNATION OF AN EXECUTIVE DIRECTOR

The board ("Board") of directors ("Directors", and each, a "Director") of Hong Kong Education (Int'l) Investments Limited ("Company", together with its subsidiaries, the "Group") announces that Mr. Wong King Hoi ("Mr. Wong") resigned as an executive Director with effect from 15 April 2021 due to his other business engagements and commitments.

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

The Board would like to express its gratitude to Mr. Wong for his valuable contribution towards the Company during his tenure of service as an executive Director.

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APPOINTMENT OF AN EXECUTIVE DIRECTOR

The Board is pleased to announce that Mr. Yip Kai Pong ("Mr. Yip") has been appointed as an executive Director with effect from 15 April 2021. Biographical details of Mr. Yip are set out below:

Mr. Yip, aged 42, joined the Group in February 2021 and is currently a business development manager of a subsidiary of the Company ("Group Company"). Mr. Yip graduated from The Hong Kong University of Science and Technology in 2002 with a degree of Bachelor of Business Administration in Economics. He has more than 10 years of experience in the securities industry with extensive management and compliance experience, in particular experience as a responsible officer and a representative specialised in Type 1 (dealing in securities), Type 2 (dealing in futures contracts), Type 4 (advising on securities) and Type 9 (asset management) regulated activities under the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) ("SFO").

On 15 April 2021, the Company has entered into a letter of appointment ("Letter of Appointment") with Mr. Yip in relation to Mr. Yip's appointment as an executive Director for a term of three years commencing from 15 April 2021, unless terminated by not less than two months' notice in writing served by either party on the other. The appointment of Mr. Yip as an executive Director is subject to rotation and re-election pursuant to the bye-laws of the Company and the Rules Governing the Listing of Securities on the Stock Exchange ("Listing Rules"). Pursuant to the Letter of Appointment, Mr. Yip is entitled to a monthly director's fee of HK$10,000 and an annual discretionary bonus as may be determined by the remuneration committee of the Board ("Remuneration Committee"). The remuneration of Mr. Yip was determined by the Remuneration Committee with reference to his background, experience, duties and responsibilities with the Group and the prevailing market conditions. Pursuant to the employment contract dated 22 February 2021 signed between the Group Company and Mr. Yip, he is also entitled to a monthly basic salary of HK$45,000 and an annual performance bonus at the sole discretion of the Group Company (or such pro-rated payment of performance bonus for employment of not less than three months in case of an incomplete year of employment) as a business development manager of the Group Company.

Mr. Yip was a director of Royal Honour Limited ("Royal Honour"), a limited company incorporated in Hong Kong. Royal Honour was dissolved by deregistration on 24 March 2017 under section 751 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong). Prior to its dissolution, Royal Honour was principally engaged in trading. To the best knowledge and belief of Mr. Yip, Royal Honour was solvent at the time of its dissolution.

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Save as disclosed above, as at the date of this announcement, Mr. Yip:

1. does not hold any other positions in the Company or in any other members of the Group;
2. has not held other major appointments or professional qualifications, nor any directorships in any other listed public companies in the last three years in Hong Kong or overseas;
3. does not have any relationships with any Directors, members of the senior management, substantial shareholder of the Company or controlling shareholder of the Company (both of which have the meanings ascribed to them respectively under the Listing Rules);
4. does not hold any interests in the shares of the Company within the meaning of Part XV of the SFO; and
5. does not receive any other remuneration from the Group.

Save as disclosed above, there is no other information relating to the appointment of Mr. Yip which is required to be disclosed pursuant to Rules 13.51(2)(h) to (v) of the Listing Rules. There is also no further information which needs to be brought to the attention of the shareholders of the Company in respect of the appointment of Mr. Yip.

The Board would like to take this opportunity to welcome Mr. Yip to join the Company.

By order of the Board

Hong Kong Education (Int'l) Investments Limited

Tsang Ka Wai

Executive Director

Hong Kong, 15 April 2021

As of the date of this announcement, the executive Directors are Mr. Tsang Ka Wai and Mr. Yip Kai Pong; and the independent non-executive Directors are Ms. Jor Stephanie Wing Yee, Mr. Leung Ki Chi James and Mr. Fenn David.

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