The Board (the "Board") of Directors (the "Director(s)") of Able Engineering Holdings Limited (the "Company") announces that Mr. NGAI Chun Hung ("Mr. NGAI") will (i) be redesignated from an executive Director to a non-executive Director (the "Redesignation"), (ii) resign from the chairman of the Board and the chairman of the nomination committee of the Company (the "Nomination Committee") and (iii) cease to be a member of the Nomination Committee with effect from 1 September 2022. Mr. NGAI, aged 59, is a controlling shareholder of the Company. Mr. NGAI joined the Group in February 1996 and has been the Chairman of the Board and an Executive Director of the Company since July 2016. Mr. NGAI is also the chairman of the Nomination Committee of the Company and a director of certain subsidiaries of the Group. Mr. NGAI has over 25 years of experience in the construction industry. He is primarily responsible for the management of the Board and the strategic planning of the Group. Mr. NGAI was the chairman of the board of directors and an executive director of Vantage International (Holdings) Limited ("Vantage", the shares of which were listed on the Main Board of The Stock Exchange from 8 September 2000 to 22 October 2020, ceased to be an intermediate holding company of the Company on 19 November 2020). Save as aforesaid, Mr. NGAI has not hold any directorship in other listed companies in the last three years. To fill the vacancy in the chairmanship of the Board and the Nomination Committee after the resignation of Mr. NGAI, the Board has appointed Mr. YAU as the new chairman of the Board, a member of the Nomination Committee and the new chairman of the Nomination Committee, with effect from 1 September 2022. Mr. YAU, aged 56, joined the Group in February 1996, has been an executive Director of the Company since July 2016. Mr. YAU is a director of certain subsidiaries of the Group. He is also a member of the Remuneration Committee. Mr. YAU is mainly responsible for formulating policy and overall development of the Group. Mr. YAU was the deputy chairman of the board of directors and an executive director of Vantage from July 2000 to October 2020, and the chief executive officer of Vantage from July 2004 to October 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 in 1990, a diploma from the Imperial College London of the United Kingdom (the "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 Chartered Engineer and a Member of the Institution of Civil Engineers, the Institution of Structural Engineers of the UK and the Hong Kong Institution of Engineers. He is also a Registered Professional Engineer (Civil & Structural) and a Registered Structural Engineer under the Buildings Ordinance of Hong Kong.