The Board of Capital Appreciation Limited announced that Mr. Michael (Motty) Sacks, will retire as Non-Executive Chairman of the Company, with effect from 28 February 2023. Motty, a co-founder of the Company has served in the capacity of Non-Executive Chairman since the Company's listing on 16 October 2015. Motty will also retire as a member of the Board Committees, on which he presently serves.

The Board will immediately commence with the process of appointing a successor Chairman and a further announcement will be made in due course.