China Maple Leaf Educational Systems Limited announced that reference is made to the circular of the Company dated 3 February 2023 that Mr. Lap Tat Arthur Wong had notified the Board of his intention to retire as an Independent Non-executive Director at the AGM and his decision of not to offer himself for re-election due to his intention to devote more time to his family and pursue other business opportunities. His retirement took effect at the conclusion of the AGM held on 28 February 2023. Mr. Wong also ceased to be the chairman of the audit committee of the Board; and the chairman of the independent board committee of the Board (IBC) established for, among other matters, conducting the Independent Investigation.

The Board also announced that Mr. King Pak Lau has been appointed as an independent non-executive Director and the chairman of each of the Audit Committee and the IBC, with effect from 28 February 2023 immediately after the conclusion of the AGM held on 28 February 2023. Mr. Lau, aged 51, has more than 25 years' experience in the accounting and auditing industry. Mr. Lau obtained a bachelor degree of Business Administration in Accounting from the Hong Kong University of Science and Technology in 1995.

Mr. Lau worked at KPMG from August 1995 to January 1997, with his last position as accountant. Mr. Lau worked in Beijing office of Ernst & Young from September 2000 to April 2011, with his last position as a partner. Mr. Lau joined Deloitte and was a partner from April 2011 to January 2021.

He was a managing director of MC CPA Ltd, a certified public accountant firm in Hong Kong from January 2022 to November 2022. Mr. Lau is a practicing member of the Hong Kong Institute of Certified Public Accountants and holds a Certified Public Accountant (Practising) certificate issued by Accounting and Financial Reporting Council. Since 17 June 2022, Mr. Lau has been appointed as a non-executive director of DreamEast Group Limited.

Pursuant to the appointment letter entered into between the Company and Mr. Lau, Mr. Lau is appointed for a fixed term from 28 February 2023 to 28 February 2026 and his appointment is subject to retirement by rotation and re-election at the annual general meetings of the Company in accordance with the provisions of the articles of association of the Company and the Listing Rules.