The board of directors of Geotech Holdings Ltd. announced that Mr. So Wai Man ("Mr. So") has resigned as an independent non-executive Director, the chairman of the remuneration committee of the Company (the "Remuneration Committee") and a member of each of the audit committee of the Company (the "Audit Committee") and the nomination committee of the Company (the "Nomination Committee") with effect from 1 December 2023 in order to devote more time to his personal and other business commitments. Mr. So has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the holders of securities of the Company. The Board further announces that, upon the recommendation of the Nomination Committee, Ms. Yip Wai Ching ("Ms. Yip") has been appointed as an independent non-executive Director, the chairman of the Remuneration Committee and a member of each of the Audit Committee and the Nomination Committee with effect from 1 December 2023. Ms. Yip Wai Ching, aged 41, graduated from The Hong Kong Polytechnic University and obtained a Master`s degree in Corporate Governance in September 2017 and a Bachelor of Arts in Accountancy in November 2004. She is also a member of The Hong Kong Chartered Governance Institute and The Hong Kong Institute of Certified Public Accountant. Ms. Yip has nearly 20 years of experience in the accounting industry. Ms. Yip is currently a director of Fung, Yu & Co. CPA Limited. Before she joined Fung, Yu & Co. CPA Limited, she worked in various local and international audit firms. Ms. Yip has entered into an appointment letter with the Company for an initial term of one year commencing from 1 December 2023, and thereafter from year to year, and may be terminated in accordance with its terms. She will hold office until the first annual general meeting of the Company after her appointment and will be eligible for re-election at such annual general meeting, thereafter, she shall be subject to retirement by rotation and re-election at least once every three years in accordance with the second amended and restated memorandum and articles of association of the Company and the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules"). Pursuant to the appointment letter with the Company, Ms. Yip will be entitled to a director's
fee of HKD 15,000.00 per month, which is determined by the Board upon the recommendation of the Remuneration Committee by reference to her experience, qualifications, duties and responsibilities undertaken in the Company and the prevailing market conditions.