The Board of Directors (Board) of Luk Hing Entertainment Group Holdings Limited (Company) announced that with effect from 13 October 2022, Mr. TANG Tsz Tung (Mr. Tang) has tendered his resignation as an independent non-executive Director, ceased to be a member of the audit committee (Audit Committee) of the Company, the chairman of the remuneration committee (Remuneration Committee) of the Company and a member of the nomination committee (Nomination Committee) of the Company as he would like to devote more time on his other work commitments. The Board further announce that following the resignation of Mr. Tang, the Company will only have 2 independent non-executive Directors. The number and composition of independent non-executive directors fail to meet the requirements under (i) Rule 5.05(1) of the GEM Listing Rules which requires the board of directors must include at least 3 independent non-executive directors; (ii) Rule 5.05(A) of the GEM Listing Rules which requires the Company must appoint independent non-executive directors representing at least one-third of the board; (iii) Rule 5.28 of the GEM Listing Rules requires the audit committee to comprise a minimum of three members and at least one of whom is an independent non-executive director with appropriate professional qualifications or accounting or related financial management expertise as required in Rule 5.05(2); and (iv) Rule 5.34 of the GEM Listing Rules which requires the Remuneration Committee to comprise a majority of independent non-executive Directors.

As such, the Board will make its best endeavors to identify suitable candidates to fill the vacancy as soon as practicable and in any event within three months from 13 October 2022 in order to ensure compliance by the Company with the requirements under the GEM Listing Rules. The Company will make further announcement(s) as and when appropriate.