Most Kwai Chung has announced that one of its executive directors Tsui Ka-ho has resigned and he will not retain any role in the company from 1 August onwards. In a statement, Most Kwai Chung said the board can confirm that Tsui tendered his resignation from his position as an executive director with effect from 1 August 2021 to devote more time for his personal commitments. Following his resignation, Tsui will also cease to retain any role in the group with effect from even date.
Meanwhile, the board has confirmed that on 1 August 2021, executive directors Iu Kar-ho, Luk Ka-chun entered into the sale and purchase agreement with Tsui. The sale share at a total consideration of HK$8 million, subject to the terms and conditions of the sale and purchase agreement. Also, Iu and Luk undertook to Tsui that within six months after the date of completion, each of them shall procure Blackpaper BVI to transfer 6,750,000 ordinary shares in the company held by Blackpaper BVI to certain long-serving employees of the group as designated by Tsui.
After the transaction, both Iu and Luk will hold 50% of the shares of Blackpaper BVI, which holds 67.5% of the entire issued share capital of the company.
In the same statement, Most Kwai Chung also confirmed that Tsui had no disagreement with the board and there was no matter relating to his resignation that needs to be brought to the attention of the shareholders of the company. The board expressed its sincere appreciation to Tsui for his contribution to the company and the board during his tenure of service.
On his personal Facebook page, Tsui also announced the news of his resignation and explained the reasons for the decision. He said that he was afraid of getting bored in the same position and hopes to have new challenges. Also, his resignation had nothing to do with health issues, plans to emigrate, disagreement with other board members, being forced to leave or acquisition from other companies. He added that although he was the "boss", he also wanted to leave his comfort zone and resign.
After finishing a drama (大辭職日) two years ago co-launched by 100most and W Theatre, Tsui said he determined to leave and started arranging his duties to other collages and transition plans to minimise the impact. He thanked every colleague for their contributions and added that he would share some thoughts related to his resignation a few days later.
"If there's nothing else, I hope to leave and gain some weight," he concluded.
Tsui starred in several ads before. For example, he and singer Leon Lai were featured in a NESCAFÉ campaign in 2016, where Lai included a lot of his famous quotes in the ad and recreated the lyrics of the song Words of Love Not Yet Spoken by Lai. It was reported that the ad was viewed by about three million people within a day after its launch.
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