The board of directors of ICO Group Limited announced that Mr. Lee Cheong Yuen will be appointed as an executive Director of the Company with effect from 1 November 2020. Mr. Lee, aged 53, is the director of ICO Limited, which is a indirectly wholly-owned subsidiary of the Company. Mr. Lee is primarily responsible for overseeing the business development, in-house operations, overall strategic planning, devising market strategies and business expansion plans of ICO Limited. In the past years, he led ICO Limited to successfully complete several large-scale IT application and solution development projects for major clients in the public sector, private sector, banking and finance sector and logistics sector. He has over 30 years of experience in the IT industry. Mr. Lee is also the directors of most of subsidiaries of the Company within the Group. Mr. Lee was a Director of the Company on 26 April 2013 and was re-designated as an executive Director on 29 January 2014. He was also the chairman and chief executive officer of the Company. Upon passing of the ordinary resolutions at the adjourned EGM on 22 April 2020, and as not prohibited by the Hong Kong Codes on Takeovers and mergers and Share Buy-backs, Mr. Lee ceased his offices in the Company on 22 April 2020.