Café De Coral Holdings Limited Announces the Demise of Choi Ngai Min, Michael, an Independent Non-Executive Director of the Company, the Chairman of the Remuneration Committee, and Member of the Nomination Committee and the Audit Committee

Café de Coral Holdings Limited announced with deepest sorrow that Mr. Choi Ngai Min, Michael, an independent non-executive director of the Company, the chairman of the Remuneration Committee, and a member of the Nomination Committee and the Audit Committee of the Company passed away on 14 May 2023. The late Mr. Choi had been an independent non-executive director of the Company since 1994. The Board would like to express its appreciation for Mr. Choi's invaluable contributions to the Company over the years and convey its heartfelt condolences to his family.

Following the passing away of Mr. Choi, the position of chairman of the Remuneration Committee has vacated and the number of independent non-executive directors of the Nomination Committee of the Company has fallen below the majority required under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").