Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers
On December 10, 2020, Mr. Chi Kin Loo ("Mr. Loo"), a majority shareholder of the
Company, was appointed as a director of the Board, effective immediately.
The biography for Mr. Loo is set forth below:
Chi Kin Loo, age 52, is our major shareholder prior to his appointment as a
director of the Board on December 10, 2020. Prior to joining the Company, Mr.
Loo has been working in the financial industry for over 15 years, specialized in
wealth management and insurance. Since 2011, Mr. Loo has been a regional manager
of FTLife Insurance Company Limited, a wholly-owned subsidiary of NWS Holdings
Limited. In 2014, Mr. Loo was awarded the Distinguished Manager Award by the
Life Underwriters Association of Hong Kong Ltd. From 2011 to 2014, Mr. Loo
served as a director of Universal Mining Group Holdings Ltd. Mr. Loo has been
granted license Type 1, 7 and 8 by the Hong Kong Securities and Investment
Institute. Mr. Loo graduated from Buddhist Sum Heung Lam Memorial College in
1985.
Mr. Loo has no family relationships with any of the executive officers or
directors of the Company. There is no employment agreement between the Company
and Mr. Loo, nor are there any arrangements or plans in which the Company will
provide compensation, bonus, pension, retirement, or similar benefits to Mr.
Loo. There have been no transactions to which the Company was or is to be a
party, in which Mr. Loo had, or will have, a direct or indirect material
interest.
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