The board of directors of Able Engineering Holdings Limited announced that Mr. CHEUNG Ho Yuen (Mr. CHEUNG) has informed the company that, with effect from 29 August 2023, he will cease to serve as an the chief executive officer of the company in order to devote more time to the operations of the Group. Mr. CHEUNG will remain as a director of certain subsidiaries of the Group. Following Mr. CHEUNG's resignation, Mr. YAU Kwok Fai (Mr. YAU) has been appointed as the CEO with effect from 29 August 2023.

Mr. YAU will also continue to serve as an Executive Director, the Chairman of the Board and the chairman of the nomination committee of the company as well as a member of the remuneration committee of the company. Mr. YAU, aged 57, joined the Group in 1996, has been an Executive Director of the Company since July 2016 and be appointed as the Chairman of the Board in september 2022. Mr. YAU is a director of certain subsidiaries of the Group.

He is also the chairman of the Nomination Committee and a member of the Remuneration Committee. Mr. YAU is responsible for management of the Board, formulating policy and overall development of the Group. Mr. YAU was the deputy chairman of the board of directors and an executive director (from July 2000 to October 2020) and the chief executive officer (from July 2004 to October 2020) of Vantage International (Holdings) Limited (a company incorporated in Bermuda and which shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited (stock code: 15) from 8 September 2000 to 22 October 2020, ceased to be the intermediate holding company of the Company on 19 November 2020).

Mr. YAU has over 30 years of experience in the construction industry. Mr. YAU obtained a Bachelor of Engineering degree in Civil Engineering (First Class Honours) from the Hong Kong Polytechnic University in 1990, a diploma from the Imperial College London of the United Kingdom ("UK") in 1991 and a Master of Science degree with distinction in Structural Steel Design from the University of London of the UK in 1991. Mr. YAU is a Member of the Hong Kong Institution of Engineers, the Institution of Civil Engineers and the Institution of Structural Engineers of the UK.

He is also a Registered Professional Engineer (Civil & Structural) and a Registered Structural Engineer under the Buildings Ordinance of Hong Kong. Mr. YAU and Mr. NGAI Chun Hung (a non-executive Director and the controlling shareholder of the Company), are brothers-in-law.