Founder Holdings Limited announced that Mr. Lau has tendered his resignation as an Independent Non-Executive Director with effect from 16 March 2023 due to his other business commitments. Accordingly, Mr. Lau will cease to be a member of the audit committee of the Company (the Audit Committee). Mr. Lau will also cease to be a member and the chairman of the remuneration committee of the Company (the Remuneration Committee).

Mr. Lau has confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of the holders of securities of the Company and the Stock Exchange. On 16 Mach 2023, following the resignation of Mr. Lau, Mr. Lai Nga Ming, Edmund, has been appointed as the chairman of the Remuneration Committee.