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CELESTIAL ASIA SECURITIES HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

(Stock code: 1049)

CHANGE OF CHIEF EXECUTIVE OFFICER

The board of directors ("Board") of Celestial Asia Securities Holdings Limited ("Company", together with its subsidiaries "Group") is pleased to announce that Mr Tsui Wing Cheong Sammy ("Mr Tsui"), currently an executive director and deputy chief executive officer of the Company, has been promoted to chief executive officer of the Company with effect from 2 January 2014. He is in charge of the corporate development and management of the Group and will assist the Chairman of the Board in formulating the overall business strategy of the Group.
Mr Tsui, aged 48, joined the Group in October 2013. He has been appointed as an executive director and deputy chief executive officer of the Company since 7 October 2013. He will remain as an executive director of the Company. He has extensive experience in media management and advertising.
Mr Tsui was an executive director and chief executive officer of China Outdoor Media Group Limited (stock code: 254) during the period from 6 April 2011 to 28 September 2013. He is the founder of the Taobao Tianxia Weekly Magazine in Hong Kong. He has also served as the group chief executive officer of BMA Investment Limited, chief operating officer of Sing Tao Magazines Group Limited, chief executive officer of Sing Tao Publishing Group Limited and publisher of South China Media Limited. He is the founder of "auto22.com" which used to be held by a company then known as New World Cyberbase Limited, an online automobile trading platform. Mr Tsui is also a mentor in the Mentorship Program at the Journalism and Media Studies Center of the University of Hong Kong. Save as disclosed above, Mr Tsui has not held any other directorships in listed public companies during the three years preceding the date of this announcement.
Mr Tsui has entered into a service contract with the Company for a term of two years since the commencing of his directorship on 7 October 2013 and will continue thereafter until terminated by three months' notice in writing served by either party on the other. Mr Tsui is subject to the retirement by rotation and re-election pursuant to the bye-laws of the Company. Mr Tsui is entitled to a monthly salary of HK$150,000, plus a year end discretionary bonus which will depend on his working performance, as specified in his service contract with the Company. The salary is determined by reference to his duties and responsibilities with the Company and the prevailing market rate of similar position.
Mr Tsui has no relationship with any directors, senior management, substantial shareholders or controlling shareholders of the Company.
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Within the meaning of Part XV of the Securities and Futures Ordinance, Mr Tsui has personal interest of options with right to subscribe for 5,500,000 shares at an exercise price of HK$0.48 in the Company.
Save for disclosed above, the Board is not aware of any other matters in relation to the appointment of Mr Tsui that need to be brought to the attention of the shareholders of the Company or any information that should be disclosed pursuant to any of the requirements of Rules 13.51(2)(h) to
13.51(2)(v) of the Listing Rules.
Due to the aforesaid promotion, Mr Kwan Pak Hoo Bankee ("Mr Kwan") has relinquished his role as the chief executive officer of the Company with effect from 2 January 2014. Mr Kwan will remain as the Chairman of the Board and an executive director of the Company.
The Board would like to congratulate Mr Tsui on his new appointment.
On behalf of the Board Bankee P. Kwan Chairman
Hong Kong, 2 January 2014
As at the date hereof, the directors of the Company are:-

Executive directors: Independent non-executive directors:

Mr Kwan Pak Hoo Bankee Mr Leung Ka Kui Johnny
Mr Tsui Wing Cheong Sammy Mr Wong Chuk Yan
Mr Law Ping Wah Bernard Dr Chan Hak Sin
Mr Ng Hin Sing Derek
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