CHEUK NANG HOLD (00131.HK): INED Wong Chun Shek Resigns, Three Listing Rule Requirements Unmet

NewTimeSpace News: On 22 September 2026, Cheuk Nang (Holdings) Limited (stock code: 00131) announced that, with effect from 22 September 2026, Mr. Wong Chun Shek has resigned as an independent non-executive Director, the chairman of the audit committee and a member of the remuneration committee, due to his heavy workload and time constraints and other personal commitments which prevented him from devoting sufficient time to the Company.

Mr. Wong has confirmed that he has no disagreement with the Board and that there are no matters relating to his resignation that need to be brought to the attention of the Company's shareholders.

Following Mr. Wong's resignation, (i) none of the independent non-executive Directors possesses the appropriate professional qualifications, or accounting or related financial management expertise, as required under Rule 3.10(2) of the Listing Rules; (ii) the number of members of the audit committee has fallen below the minimum of three members as required under Rule 3.21 of the Listing Rules; and (iii) the remuneration committee is not chaired or composed of a majority of independent non-executive Directors as required under Rule 3.25 of the Listing Rules.

The Board said it will use its best endeavours to identify a suitable candidate for the new chairman of the audit committee and to appoint a new member of the remuneration committee, and the Company will issue a further announcement in due course.

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