The board of directors of Silver Grant International Holdings Group Limited announced that Mr. Chen Yongcun has been appointed as a co-chief executive officer of the Company with effect from 13 May 2022. Mr. Chen will focus on the daily operation and management of the Group pursuant to his role as a Co-CEO under the Appointment. Following the Appointment, Mr. Chu Hing Tsung the chairman of the Board and an executive Director, will be re-designated from the chief executive officer of the Company to a Co-CEO with effect from 13 May 2022 Mr. Chu will focus on the overall strategic and business development of the Group pursuant to his role as a Co-CEO under the Re-designation. Mr. Chen has over 20 years of experience in finance and investment. The Company and Mr. Chen have entered into an employment service contract under which Mr. Chen has been appointed as a Co-CEO, a deputy
general manager of the Company, and the legal representative and the managing director of East Gate for a term of three years from 13 May 2022 to 12 May 2025, unless terminated by not less than one month's prior notice in writing served by either party on the other.