Sheung Moon Holdings Limited Announces Board Changes
Agent and the Compliance Officer with effect from 19 October 2023. Ms. Shen, aged 41, has experience in business management, development, business operation in food and beverages industry. From August 2018 to September 2020, Ms. Shen was a business director of Hongganguo Information Tech Co., Limited. On 6 January 2022, she was appointed as the executive director of Dragon King Group Holdings Limited, the shares of which are listed on GEM of the Stock Exchange and served as the chairman of the board. On 12 October 2023, Ms. Shen was re-designated as a non-executive director of Dragon King Group Holdings Limited and has ceased to be the chairman of the board. Ms. Shen entered into a service agreement with the Company for a term of 2 years, which may be terminated by either party giving not less than three months' written notice. The appointment of Ms. Shen is subject to retirement by rotation and re-election at the general meetings of the Company in accordance with the articles of association of the Company. Pursuant to the Service Agreement, Ms. Shen is entitled to receive a remuneration of HKD 100,000 per month, which is determined by the Board based on the recommendation of the remuneration committee of the Board after considering a range of factors including salaries paid by comparable companies, time commitment, duties and responsibilities of Ms. Shen, the Company's performance and profitability and prevailing market benchmark. Her future remuneration will be subject to review by the remuneration committee of the Company from time to time pursuant to the power conferred on it by the Board. The Board announces that following the resignation of Mr. Tang as an executive Director and ceased to act as a member of the risk management committee of the Board. Ms. Shen has been appointment as a member of the risk management committee of the Board with effect from 19 October 2023.