Ascent International Holdings Limited announced that the mandatory unconditional cash offer being made by Lego Securities on behalf of the Waterfront Holding Group Co. Ltd. to acquire all the offer shares. As at the Latest Practicable Date, the Board is made up of four Directors, comprising one executive Directors (being Ms. Wang Wei) and three independent non-executive Directors (being Mr. Chong Man Hung Jeffrey, Mr. Liang Jianhai and Mr. Wong Kwun Ho). It is expected that all of the existing Directors will resign with effect from such date as being required by the Offeror or the earliest time permitted under the Takeovers Code or the Stock Exchange, whichever is the later. The Offeror intends to nominate two executive Directors, namely, Mr. Zhao and Mr. Fan Xin (together, the 'Proposed Directors') to the Board to facilitate the business operation, management and strategy of the Group and such appointments will be subject to the approval of the Board and will not take effect earlier than the date of posting of this Composite Document or such other date as permitted under the Takeovers Code. In addition, the Offeror is in the course of identifying additional candidates for the Board, subject to compliance with the Takeovers Code and the Listing Rules. Any of such appointments will be made in compliance with the Takeovers Code and the Listing Rules and will take effect on the earliest day permitted under the Takeovers Code.