DreamEast Group Limited announced that each of Mr. Lau King Pak and Mr. Chiu Wai Shing has been appointed as a non-executive director of the Company with immediate effect. Mr. Lau, aged 50, has more than 25 years' experience in the accounting industry. Mr. Lau obtained a bachelor degree of Business Administration in accounting from the Hong Kong University of Science and Technology in 1995.

Mr. Lau joined KPMG in August 1995, with his last position as accountant before he left in January 1997. Mr. Lau worked in Beijing office of Ernst & Yong from 2000 to 2011, with his last position as a partner. Mr. Lau joined Deloitte and was a partner from 2011 to 2021.

He is currently a managing director of MC CPA Ltd, a certified public accountant firm in Hong Kong. Mr. Lau is a practicing member of the Hong Kong Institute of Certified Public Accountants. He was a committee member of the Information and Finance Committee of China Chain Store and Franchise Association.

He was also a think tank member of the Retail Industry International Investment Promotion Committee by the Investment Promotion Agency of the Ministry of Commerce in the People 's Republic of China. As at the date of this announcement, Mr. Lau has entered into a letter of appointment with the Company. He will receive a director's fee and allowances of HKD 120,000 per year, determined with reference to his background, duties and responsibilities with the Company, the remuneration policy of the Company and prevailing market conditions.

He will hold office until the next following annual general meeting of the Company at which he will be eligible for re-election. The directorship of Mr. Lau with the Company will be subject to rotation requirements and re-election pursuant to the Articles of Association of the Company. Mr. Chiu, aged 55, has over 30 years' experience in the accounting and finance industry.

Mr. Chiu obtained a bachelor of business administration from Hong Kong Baptist University in 1990 and a master of business administration from Chinese University of Hong Kong in 2001. Mr. Chiu worked as staff accountant for Grant Thornton from August 1990 to December 1993. He joined Ernst & Young as a senior auditor and worked at Ernst & Young from January 1994 to July 1996.

Mr. Chiu worked as assistant manager (finance) at New World Infrastructure Limited and New World Development Limited from August 1996 to December 1997. Mr. Chiu was the finance controller of Jebsen Motors from January 2005 to June 2009 and the finance controller of Jebsen Industrial from July 2009 to November 2010. He was the finance director of Jebsen Consumer from December 2010 to April 2020.

He has been the director of was Business Service Limited since May 2020. Mr. Chiu has been a fellow member of the Association of Chartered Certified Accountants since March 2001 and a fellow member of Hong Kong Institute of Certified Public Accountants since April 2002. As at the date of this announcement, Mr. Chiu has entered into a letter of appointment with the Company.

He will receive a director's fee and allowances of HKD 120,000 per year, determined with reference to his background, duties and responsibilities with the Company, the remuneration policy of the Company and prevailing market conditions. He will hold office until the next following annual general meeting of the Company at which he will be eligible for re-election. The directorship of Mr. Chiu with the Company will be subject to rotation requirements and re-election pursuant to the Articles of Association of the Company.

Save as disclosed in this announcement, as at the date hereof, both Mr. Lau and Mr. Chiu do not hold any other position with the Company or its subsidiaries; have any relationship with any other directors of the Company, senior management or substantial or controlling shareholders of the Company; and hold any other directorships in public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years. Each of Mr. Lau and Mr. Chiu does not have any interest in the shares or underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). Save as disclosed above, there is no other information relating to the appointments of Mr. Lau and Mr. Choi which is required to be disclosed.

The Board also announces that, with immediate effect, both Mr. Lau and Mr. Chiu have been appointed as members of the Audit Committee, Remuneration Committee and Nomination Committee.