Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
On November 21, 2022, the Board of Directors (the "Board") of HWGC Holdings
Limited, a Nevada corporation (the "Company"), increased the size of the Board
from two directors to four directors pursuant to the Amended and Restated Bylaws
of the Company. The Board appointed Mok Lip Bin and Lim Chun Hoo to the Board to
fill these two new directorships, effective immediately.
Mok Lip Bin, age 33, is the executive director and Chief Executive Officer of
HWGG Capital, P.L.C. ("HWGG") where he has served since 2018. He originally
joined HWGG as its Business Development Executive in March 2015. He has served
as a director of Ho Wah Genting Group ("Ho Wah") since March 1, 2017, as well as
a director of a Ho Wah subsidirary, Ho Wah Genting Holiday Sdn Bhd, a travel
agency specialized in promoting vacation packages, tours and entertainment
facilities. From September 2012 to August 2014, Mr. Mok worked at CIMB Bank BHD
as an Assistant Sales Manager and Mortgage Advisor. He received his Bachelor of
Arts in Management and Marketing from the Keele University, Malaysia and a
diploma in Business Administration from KDU University College, Malaysia.
There are no arrangements or understandings between Mr. Mok and any other person
pursuant to which Mr. Mok was appointed as a director of the Company. In
addition, there are no family relationships between Mr. Mok and any of the
Company's executive officers or directors. Mr. Mok has no direct or indirect
material interest in any transactions required to be disclosed pursuant
to Item 404(a) of Regulation S-K.
Lim Chun Hoo, age 32, has served as the Chief Executive Officer and as a
director of Ho Wah since November 8, 2016 and November 4, 2016, respectively. On
March 1, 2017, he was also appointed to serve as Ho Wah's Chief Financial
Officer and Chief Operating Office. He also serves as executive director of Ho
Wah Genting Holiday Sdn Bhd. In May, 2014, Mr. Lim founded an information
technology company, Beedo, where he serves as its director. From August, 2013 to
May, 2014, he was Senior Share Investment Executive at Public Bank Berhad. From
August, 2010 to August, 2013, he served as a costing executive under PT Ho Wah
Genting, Indonesia. Mr. Lim received a Bachelor of Arts (Honours) in Finance and
Investment Management from the University of Northumbria, Newcastle-upon-Tyne,
United Kingdom in 2010.
There are no arrangements or understandings between Mr. Lim and any other person
pursuant to which Mr. Lim was appointed as a director of the Company. In
addition, there are no family relationships between Mr. Lim and any of the
Company's executive officers or directors. Mr. Lim has no direct or indirect
material interest in any transactions required to be disclosed pursuant
to Item 404(a) of Regulation S-K.
The expertise of each of Messrs. Mok and Lim in the Company's industry led the
Board to conclude that they would each be a valuable member of the Board.
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