The board of directors of Phoenitron Holdings Limited announces that Mr. Leung Ka Kui, Johnny ("Mr. Leung") has tendered his resignation as an independent non- executive Director due to his other business commitments which require more of his attention and dedication, and has ceased to act as a member of each of the audit committee (the "Audit Committee"), the nomination committee (the "Nomination Committee") and the chairman of the remuneration committee (the "Remuneration Committee") of the Board, all with effect from 15 December 2022. Mr. Leung has confirmed that he has no claim against the Company in respect of his resignation and has no disagreement with the Board. Mr. Leung further confirmed that there are no matters in relation to his resignation that need to be brought to the attention of the shareholders of the Company (the "Shareholders") and The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). The Board announced that Mr. Yeung Man Chit, Daniel ("Mr. Yeung") has been appointed as an independent non-executive Director and a member of each of the Audit Committee, the Nomination Committee and the Remuneration Committee, all with effect from 15 December 2022. Mr. Yeung, aged 49, is a member of the Hong Kong Institute of Certified Public Accountants and a fellow member of the Association of Chartered Certified Accountants. Mr. Yeung has extensive experiences in accounting, financial management and company secretarial works. He holds a Bachelor of Arts (Hons) Degree in Accountancy from The Hong Kong Polytechnic University. Mr. Yeung is the financial controller and company secretary of Chaoda Modern Agriculture (Holdings) Limited, a company listed on the Main Board of the Stock Exchange. The Company has entered into a service contract with Mr. Yeung for a term of one year commencing from 15 December 2022 and renewable automatically for successive periods of one year unless terminated by either party giving to the other at least one month's written notice. His directorship in the Company is subject to retirement by rotation and/or re-election at general meetings in accordance with the articles of association of the Company. Mr. Yeung is entitled to director's fee of HKD14,000 per month. His remuneration package was determined by the Board
with recommendation of the remuneration committee of the Board after considering a range of factors including his experience, his duties and responsibilities in the Group, the remuneration structure of the Group and levels of remuneration for peers in the market. The Board further announces that following the resignation of Mr. Leung, Mr. Chan Siu Wing,
Raymond, an independent non-executive Director, has been appointed as the chairman of the Remuneration Committee with effect from 15 December 2022.