The board of directors of Melbourne Enterprises Limited announced that hung Yin Shu, Frederick ("Mr. Frederick Chung"), an executive Director, has been ppointed as the Chairman of the Company and has resigned from his position as the ecretary of the Company (the "Company Secretary") with effect from 31 May 2023. Mr. Chung Yin Shu, Frederick, aged 78, graduated from Prince Alfred College in 1964. He worked at Cathay Pacific Airways Limited from 1964 to 1967.

He joined Melbourne Enterprises Limited and was appointed as executive Director in 1967. He was also the founding director of a security brokerage company incorporated in Hong Kong. He is a director of Aik San Realty Limited, Fu Hop Investment Company Limited and Good Earning Investment Company Limited.

He is the son of the late Mr. Chung Ming Fai and brother of Mr. Chung Wai Shu, Robert, a non-executive Director of the Company. Mr. Frederick Chung does not hold any other position with the Company or other members of the Group and has not held any directorships in the last three years in public companies the securities of which are listed on any securities market in Hong Kong or overseas. Mr. Frederick Chung has confirmed that he resigned as Company Secretary in order to focus on his duties and responsibilities as the Chairman of the Company and that he has no disagreement with the Board and that he is not aware of any matters relating to his resignation as the Company Secretary of the Company that need to be brought to the attention of the shareholders of the Company.

The Board also announces that Mr. Chung Wai Shu, Robert, a non-executive Director of the Company, has been appointed as the Company Secretary with effect from 31 May 2023. The Board further announces that Mr. Wong Tak Wai, Alvin ("Mr. Wong") has been appointed as a non-executive Director and a member of the audit committee of the Board (the "Audit Committee"), and Ms. Ling Kit Sum, Imma ("Ms. Ling") has been appointed as an independent non-executive Director and a member of the Audit Committee, both with effect from 31 May 2023. Mr. Wong Tak Wai, Alvin, aged 66, holds a Bachelor of Commerce at the University of Otago in New Zealand.

Mr. Wong has extensive experience in audit and advisory services. He was a partner of PricewaterhouseCoopers from 1992 to 2017. He is a Fellow member of the Hong Kong Institute of Certified Public Accountants and a member of the Institute of Chartered Accountants of Australia and New Zealand.

Mr. Wong was the president of the Hong Kong Institute of Certified Public Accountants ("HKICPA") in 2002 and served as a council member of HKICPA from 1997 to 2003. During the period when Mr. Wong was a council member of HKICPA, he was chairman of the Auditing Standards Committee, chairman of the Legal Committee and also member/chairman of the Professional Standards Monitoring Committee. After retiring from the Council of HKICPA, Mr. Wong then served as a member of the Remuneration Committee and the Disciplinary Panel.

In addition, during the period from 2008 to 2015, Mr. Wong also served as deputy chairman and chairman of the Audit Committee of the HKICPA. Mr. Wong also represented the HKICPA to serve in the Auditing Practices Committee from 1998 to 2000 and Compliance Committee from 2002 to 2003 of the International Federation of Accountants. Mr. Wong was a member of the advisory board on accounting studies of the Chinese University of Hong Kong from 1998 to 2002, a member of the Standing Committee of Company Law Reform from 1998 to 2005 and chairman of its Corporate Reporting sub-committee in 2004.

He was an adjudicator of Immigration Tribunal from 1998 to 2002; an adjudicator of Registration of Persons Tribunal from 1998 to 2005; a member of the Vetting Committee of the Education and Manpower Bureau for start-up loan for post-secondary education providers from 2001 to 2020, a member of the Selection Committee of the Education and Manpower Bureau for the allocation of sites to post-secondary education providers from 2002 to 2012; an independent director of Travel Industry Council of Hong Kong from 2003 to 2009 and chairman of its Compliance Committee from 2007 to 2009; a member of the Mandatory Provident Fund Schemes Advisory Committee from 2005 to 2011; a member of Notaries Public Disciplinary Tribunal Panel from 2007 to 2013; a member of the Financial Reporting Review Panel of the Financial Reporting Council from 2007 to 2013; a council member of Consumer Council from 2010 to 2015 and the convenor of its Audit Committee from 2013 to 2015; a member of the Standing Committee on Legal Education and Training from 2011 to 2019; and a member of the Sustainable Agricultural Development Fund Advisory Committee from 2016 to 2022. Mr. Wong has entered into a letter of appointment with the Company in respect of his directorship with the Company with effect from 31 May 2023. His term of appointment does not have a specific term and is subject to retirement and re-election at the annual general meetings of the Company in accordance with the Company's articles of association.

Ms. Ling Kit Sum, Imma, aged 68, holds a Diploma in Accountancy from The Hong Kong Polytechnic (now known as The Hong Kong Polytechnic University) and a Master of Science in Corporate Governance and Directorship (Distinction) from the Hong Kong Baptist University. Ms. Ling has extensive experience in auditing, due diligence and initial public offerings. She was an assurance partner of PricewaterhouseCoopers and retired from the partnership in 2013.

Ms. Ling is a member and Certified Public Accountant of the Hong Kong Institute of Certified Public Accountants, a fellow of the Association of Chartered Certified Accountants and a member of the Chartered Professional Accountants of Canada, and Chartered Institute of Management Accountants. She is also an accredited general mediator of the Hong Kong Mediation Accreditation Association Limited. Ms. Ling serves as an independent non-executive director of a number of companies listed on the Stock Exchange.

She is currently an independent non-executive director of Raymond Industrial Limited EVA Precision Industrial Holdings.