GS Holdings Limited announced retirement of Chan Chun Kit as Independent Director, Chairman of the Remuneration Committee and a member of the Audit and Risk Committee and Nominating Committee. Mr. Chan will be retiring as an Independent Director of the Company pursuant to Article 113 of the Company's Constitution at the conclusion of the Annual General Meeting to be held on 19 July 2022. Mr. Chan is not seeking re-election as a Director of the Company as he is required to devote more time to his principal work commitments due to new role and responsibilities in 2022.

Notwithstanding his retirement, Mr. Chan has assured the Company that he will continue to provide the Company with any assistance required from him, including assistance for the purposes of the ongoing independent review. Based on its enquiries, the Sponsor is satisfied that, save as disclosed in the announcement, there are no other material reasons for the cessation of Mr. Chan as an Independent Director of the Company.