The board of directors of ICO Group Limited announced as follows: Mr. Leong Yeng Kit has stepped down from the position of the chairman of the Board, together with the chairman of the nomination committee of the company with effect from 17 August 2021 to devote more time to his other business, but remain as an executive Director. The company announced that Mr. Lee Cheong Yuen ("Mr. Lee"), currently as an executive Director, has been appointed as the Chairman and the chairman of the Nomination Committee with effect from 17 August 2021. The Board would also like to extend its warm welcome to Mr. Lee to the new positions. Dr. Choi Chiu Fai Stanley has been appointed as a non-executive Director and the vice chairman of the Board (the "Vice Chairman") and a member of the audit committee of the Company (the "Audit Committee") with effect from 17 August 2021. Dr. Choi Chiu Fai Stanley ("Dr. Choi"), aged 52. Dr. Choi possesses more than 20 years of experience in financial service and merger and acquisition projects. Dr. Choi was appointed as, and has since been holding the positions of an executive director and the chairman of the board of directors of International Entertainment Corporation, a company listed on the main board of the Stock Exchange ("IEC"), in May 2017 and in June 2017 respectively. He is also the chairman of the executive committee of IEC, the authorized representative of IEC and a director of various subsidiaries of IEC. Dr. Choi is the chairman of Head & Shoulders Financial Group Limited and the chairman of Head & Shoulders X Inc. Head & Shoulders X Inc. is principally engaged in fintech and blockchain projects. The company also announced that The Hon. Ip Kwok Him, G.B.M., G.B.S., JP. has been appointed as an independent non-executive Director and a member of each of the Remuneration Committee and the Nomination Committee with effect from 17 August 2021. The Hon. Ip Kwok Him, G.B.M., G.B.S., JP. ("The Hon. Ip") aged 69. The Hon. Ip is presently a Hong Kong Deputy to the 13th National People's Congress of People's Republic of China for HKSAR, a non-official member of the Executive Council of the Government of the Hong Kong SAR, the Chairman of Mandatory Provident Fund Schemes Advisory Committee, the Deputy Chairman of Private Columbaria Licensing Board, the Chairman of Hon Wah Educational Organization, and a Party Affair Advisor of the Democratic Alliance for Betterment and Progress of Hong Kong. The Hon. Ip is the Chairman of the Panel on Security and Committee on Members' Interests and of the Legislative Council of the Hong Kong SAR. The Hon. Ip was also a member of the Legislative Council of the Hong Kong between 1995-1997, a member of the Provisional Legislative Council of the Hong Kong SAR between 1997-1998, a member of the Legislative Council of the Hong Kong SAR representing the district council functional constituency between 2000-2004 and between 2008-2016, and was an elected member of the Central and Western District Council between 1992-2003 and between 2007-2015. The Hon. Ip was appointed as a Justice of the Peace in 1999, and was awarded the Gold Bauhinia Star in 2004 and the Grand Bauhinia Medal in 2017.