The board of directors of i-Control Holdings Limited (the ‘Company', together with its subsidiaries, the ‘Group') announced that, with effect from 31 May 2022, Mr. Li Ying Wai Wayne (‘Mr. Li') has resigned as an independent non-executive Director, the chairman of the remuneration committee, a member of the audit committee and a member of the nomination committee of the Board to focus on his own business engagements. The Board also announced that, with effect from 31 May 2022, Mr. Lai Kai Ming Ricky (‘Mr. Lai') has been appointed as an independent non-executive Director, the chairman of the remuneration committee, a member of the audit committee and a member of the nomination committee of the Board. Mr. Lai, aged 51, obtained a higher diploma in English for professional communication from City Polytechnic of Hong Kong (currently known as City University of Hong Kong) in 1994 and holds a Master of Business Administration degree from The University of Lancaster, the United Kingdom.

Mr. Lai is also a Certified Anti-Money Laundering Specialist of The Association of Certified Anti-Money Laundering Specialist since 2015. From 1996 to 2016, Mr. Lai worked in several international banking roles with Standard Chartered Bank, Deutsche Bank AG and The Hongkong and Shanghai Banking Corporation Limited (‘HSBC') in London, Tokyo and Hong Kong in relation to corporate banking, risk management and compliance. Mr. Lai's last position with HSBC was Head of Client Management, Global Banking and Markets in Hong Kong.

Mr. Lai was the Chief Executive Officer of FWM Group from December 2016 to April 2022, a multi-concept hospitality group operating restaurant concepts, including Morton 's of Chicago, Morton's Grille and The Butchers Club in Beijing, Shanghai, Guangzhou, Hong Kong, Shenzhen and Taipei. Mr. Lai had been instrumental in building up FWM Group's restaurant network across China, with over 24 new units opening during his tenure with the FWM Group.