APAC Resources Limited has announced that the reference refers to the announcement dated 26 September 2023 and the company circular dated 26 October 2023 regarding, inter alia, the retirement of Mr Chang Chu Fai, Johnson Francis. The Company’s Board of Directors has announced that Mr. Chang has retired as an independent non-executive director as of the close of the Company’s annual general meeting held on 23 November 2023 (“AGM”). Mr. Chang has confirmed that he has no disagreements with the Board of Directors and that there are no matters relating to his retirement that should be of concern to the shareholders of the Company (“Shareholders”).

The Board has announced that Mr Kelvin Chau Kwok Wing (“Mr Chau”) has been appointed as an Independent Non-Executive Director with effect from 23 November 2023. Mr Chau, aged 61, is the former Chairman of Rothschild & Co in Hong Kong. He has more than 30 years of experience in investment banking advising companies and governments and currently serves as Senior Advisor at Harmony Capital International Limited.

He is an independent non-executive director of Allied Group Limited and Travel Expert (Asia) Enterprises Limited, both listed on the Hong Kong Stock Exchange Limited, and is a member of the Finance and Investment Committee of the City University Council of Hong Kong. He earned a law degree from the University of Buckingham, England. The Board of Directors hereby announces that Mr. Brett Robert Smith (“Mr. Smith”) has resigned as Vice Chairman of the Board of Directors and Executive Director effective November 24, 2023, as he wishes to devote more of his time to others. business obligations.

Mr. Smith has confirmed that he has no disagreements with the Board of Directors and there is nothing regarding his resignation that needs to be communicated to Shareholders. The Board further announces that: (a) Mr Chang will no longer be a member of the Audit Committee, Remuneration Committee and Nomination Committee of the Company as of the close of the AGM; (b) Mr. Chau has been appointed to each of the Company’s Audit Committee, Compensation Committee, and Nomination Committee effective November 23, 2023; and (c) Mr. Smith is no longer a member of the Company’s executive committee, effective November 24, 2023.