Web3 Meta Limited — Board/Management Information 2018

Dec 20, 2018

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.

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MILLION STARS HOLDINGS LIMITED 萬 星 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability) (Stock Code: 8093)

CHANGES OF INDEPENDENT NON-EXECUTIVE DIRECTORS AND COMPOSITION OF BOARD COMMITTEES

The Board announces the following changes of the Company with effect from 1 January 2019:

1. Ms. Chen Feng has resigned as an Independent Non-Executive Director, the Chairlady of the Remuneration Committee and a member of each of the Audit Committee, Nomination Committee and Corporate Governance Committee of the Company due to her other personal commitments; and

2. Ms. Ji Fang will be appointed as an Independent Non-Executive Director, the Chairlady of the Remuneration Committee and a member of each of the Audit Committee, Nomination Committee and Corporate Governance Committee of the Company.

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board (the “ Board ”) of directors (the “ Director(s) ”) of Million Stars Holdings Limited (the “ Company ”) announces that Ms. Chen Feng (“ Ms. Chen ”) has resigned as an Independent Non-executive Director, the Chairlady of the Remuneration Committee and a member of each of the Audit Committee, Nomination Committee and Corporate Governance Committee of the Company with effect from 1 January 2019 due to her other personal commitments.

Ms. Chen confirmed that she has no disagreement with the Board and there are no other matters in relation to her resignation that need to be brought to the attention of the shareholders of the Company.

The Board would like to express its sincere gratitude and appreciation to Ms. Chen for her contributions to the Company during her tenure of office.

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APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board is pleased to announce that Ms. Ji Fang (“ Ms. Ji ”) will be appointed as an Independent Non-executive Director of the Company with effect from 1 January 2019.

The biographical details of Ms. Ji are as follows:

Ms. Ji, aged 44, has over 20 years’ experience in senior corporate management, industrial investment and capital operations. She specializes in large enterprise cost control, multinational supply chain management, sales operation management, risk assessment, investment decision-making, and project management, etc. Since October 2016, Ms. Ji has served as the chief executive officer of Guangzhou Parallel Line Investment Management Co., Ltd. (廣州平行綫投資管理有限公司). Ms. Ji held senior management positions at several famous companies in the past, including chief executive officer of Sichuan Bangminrong Investment Guarantee Consulting Co., Ltd. (四川省邦民融投資擔保諮詢有限公司) from October 2013 to September 2016; vice chairlady of Zhejiang Zhengrui Industrial Investment Co., Ltd.* (浙江正瑞實業投資 有限公司) from March 2009 to August 2013; assistant to the president of Otis Elevator Company North Asia Pacific Headquarters and key clients manager of Otis Elevator Company in China region from March 2004 to March 2009.

Ms. Ji holds an undergraduate degree in economic management from the Southwest Minzu University and a master's degree in business administration from Edinburgh Business School, Heriot-Watt University in the United Kingdom. She has completed a postgraduate course in political economics at Sichuan University. She is familiar with the investment environment and policies of the People’s Republic of China. Ms. Ji has a deep understanding of the project incubation and corporate mergers and acquisition practice in areas such as emerging manufacturing, new materials and the Internet. She was invited to be the guest lecturer of the business administration program for president course of Shanghai Jiao Tong University.

Save as disclosed herein, as at the date of this announcement, Ms. Ji confirms that (i) she does not hold any position in the Company or any of its subsidiaries nor have any relationship with any Director, senior management or substantial or controlling shareholders (having the meaning ascribed to it in the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited (the “ GEM Listing Rules ”)) of the Company; (ii) she has not held any directorship in other public companies, the securities of which are listed on any securities market in Hong Kong or overseas in the past three years or other major appointments and professional qualifications; and (iii) she does not have any interest in the shares or underlying shares of the Company or any of its associated corporations which is required to be disclosed under Part XV of the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong).

Ms. Ji will enter into a letter of appointment with the Company under which she is appointed for a period of three years, but is subject to retirement by rotation and re-election at the annual general meeting of the Company at least once every three years in accordance with the articles of association of the Company.

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Ms. Ji is entitled to a director’s fee of HK$180,000 per annum, which is same as that payable to other Independent Non-executive Directors of the Company. The remuneration of Ms. Ji has been reviewed by the Remuneration Committee of the Company and was determined by reference to her duties and responsibilities with the Company, the Company’s performance and the prevailing market conditions. The remuneration of Ms. Ji is subject to review by the Board and the Remuneration Committee from time to time.

Save as disclosed herein, the Board is not aware of any other information in relation to Ms. Ji that is required to be disclosed to the Company nor any other information which is required to be disclosed pursuant to rules 17.50(2)(h) to (v) of the GEM Listing Rules or any other matter that needs to be brought to the attention of the shareholders of the Company in relation to Ms. Ji’s appointment.

The Board would like to take this opportunity to welcome Ms. Ji to join the Board.

CHANGE IN COMPOSITION OF BOARD COMMITTEES

The Board further announces that following the resignation of Ms. Chen, Ms. Ji will be appointed as the Chairlady of the Remuneration Committee and a member of each of the Audit Committee, Nomination Committee and Corporate Governance Committee of the Company with effect from 1 January 2019.

By Order of the Board Million Stars Holdings Limited Zhu Yongjun Chairman

Hong Kong, 20 December 2018

* For identification purposes only

As at the date hereof, the Board comprises Mr. Zhu Yongjun, Ms. Wang Fei and Ms. Tian Yuan as executive Directors; Mr. Chong Ka Yee as a non-executive Director; and Mr. Chen Ce, Mr. Gao Shuo and Ms. Chen Feng as independent non-executive Directors.

This announcement, for which the Directors of the Company collectively and individually accept full responsibility, includes particulars given in compliance with the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited 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 GEM website at http://www.hkgem.com on the “Latest Company Announcements” page for at least 7 days from the day of its publication and on the website of the Company at http://www.millionstars.hk.

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