Founder Holdings Limited announced that the Board announced that Mr. Li Fat Chung and Ms. Wong Lam Kit Yee resigned as independent non-executive directors with effect from 1 April 2020 due to the intention to concentrate on their respective business engagements. Mr. Li Fat Chung also ceased to be a member and chairman of both the audit committee and the remuneration committee of the Board and Ms. Wong Lam Kit Yee ceased to be a member of the audit committee, the remuneration committee and the nomination committee of the Board with effect from 1 April 2020 due to their resignation. The Board announced that Mr. Lau Ka Wing and Mr. Lai Nga Ming, Edmund were appointed as independent non-executive directors with effect from 1 April 2020. Mr. Lau is the sole proprietor of Lau Ka Wing Certified Public Accountant since March 2015, and a practicing director of Unity CPA Limited since August 2019. Mr. Lau is an independent non-executive director of Green Energy Group Limited since February 2020; and Peking University Resources (Holdings) Company Limited, 60.01% of equity interest of which is held by a subsidiary of (Peking University Founder Group Company Limited, a substantial shareholder of the Company), since April 2020. Mr. Lai is the company secretary of Luxxu Group Limited since November 2016. He is an independent non-executive director of PKU Resources since April 2020. With effect from 1 April 2020, Mr. Chan Chung Kik, Lewis was appointed to replace Mr. Li Fat Chung as the chairman of the audit committee of the Board; Mr. Lau Ka Wing was appointed to replace Mr. Li Fat Chung as a member of the audit committee and the chairman of the remuneration committee of the Board; and Mr. Lai Nga Ming, Edmund was appointed to replace Ms Wong Lam Kit Yee as a member of the audit committee, the remuneration committee and the nomination committee of the Board.