Sino-Ocean Group Holding Ltd.'s independent nonexecutive director and chairman of the audit committee Hing Lun Tsang died June 4.

With his passing, the board is required to appoint a fifth independent nonexecutive director that will also be a member of the audit committee, under the listing rules of Hong Kong's stock exchange. The board will further name an independent nonexecutive director to chair the committee, all within three months from his death.

Tsang was also a member of the investment committee.