Ares Asia Limited announced that Mr. CHANG Jesse retired as the independent non-executive Director with effect from the conclusion of the AGM held on 15 September 2023 given that the resolution numbered 2(B) was not passed by the Shareholders at the AGM in accordance with the amended and restated bye-laws of the Company. Following the retirement of Mr. CHANG Jesse as the independent non-executive Director, Mr. CHANG Jesse ceased to be the chairman of the remuneration committee of the Company and a member of each of the audit committee and the nomination committee of the Company with effect from 15 September 2023.