Basic House New Life Group Limited — Board/Management Information 2021

Aug 2, 2021

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

AL Group Limited

利 駿 集 團（香 港）有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8360)

RESIGNATION OF EXECUTIVE DIRECTOR

AND

CHANGES OF CHAIRMAN OF THE BOARD AND COMPOSITION OF BOARD COMMITTEE

The Board hereby announces the following resignation of executive Director and changes of Chairman of the Board and composition of the Board Committee with effect from 2 August 2021:

1. Mr. Lam has tendered his resignation as an executive Director and the Chairman. Subsequent to his resignation, Mr. Lam has ceased to be the chairman of the Nomination Committee;

2. Mr. Kwan, an executive Director and Chief Executive Officer, has been appointed as the Chairman; and

3. Mr. Tse, an independent non-executive Director, has been appointed as the chairman of the Nomination Committee.

RESIGNATION OF EXECUTIVE DIRECTOR AND CHAIRMAN OF THE BOARD

The board (the “ Board ”) of directors (the “ Directors ”) of AL Group Limited (the “ Company ”) hereby announces that Mr. Lam Chung Ho, Alastair (“ Mr. Lam ”) has tendered his resignation as an executive Director and the Chairman of the Board (the “ Chairman ”) of the Company with effect from 2 August 2021 as he needs to devote more time and dedication on his personal and other business commitments.

Mr. Lam has confirmed to the Board that he has no disagreement with the Board and there is nothing relating to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”).

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The Board would like to take this opportunity to express its gratitude to Mr. Lam for his contributions to the Company during his terms of service.

CHANGE OF CHAIRMAN OF THE BOARD

Following the resignation of Mr. Lam as an executive Director and the Chairman, the Board hereby announces Mr. Kwan Tek Sian (“ Mr. Kwan ”), an executive Director and chief executive officer (the “ Chief Executive Officer ”) of the Company, has been appointed as the Chairman with effect from 2 August 2021.

The change of the Chairman will make the Company derivate from code provision A.2.1 of the Corporate Governance Code as set out in Appendix 15 to the GEM Listing Rules which requires that the roles of the Chairman and Chief Executive Officer should be separate and should not be performed by the same individual.

The Directors will review the effectiveness of the new structure and assess whether the separation of the roles of Chairman and Chief Executive Officer is necessary.

CHANGE OF COMPOSITION OF BOARD COMMITTEE

Subsequent to the resignation of Mr. Lam, Mr. Lam has also ceased to be the chairman of the nomination committee of the Company (the “ Nomination Committee ”) with effect from 2 August 2021. Mr. Tse Wai Hei (“ Mr. Tse ”), an independent non-executive Director of the Company, has been appointed as the chairman of the Nomination Committee with effect from 2 August 2021.

By Order of the Board AL Group Limited Kwan Tek Sian

Chairman, Chief Executive Officer and Executive Director

Hong Kong, 2 August 2021

As at the date of this announcement, the executive Director is Mr. Kwan Tek Sian; and the independent non-executive Directors are Mr. Tse Chi Shing, Mr. Tse Wai Hei and Mr. Tam Chak Chi.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the “Latest Listed Company Information” page on the GEM website at www.hkgem.com for a minimum period of 7 days from the date of its publication and on the Company’s website at www.AL-Grp.com.

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