The board of directors of Infinities Technology International (Cayman) Holding Limited announces with sadness that Mr. Choi Onward, an independent non-executive Director and a member of each of the audit committee and the remuneration committee of the Board, passed away on 12 June 2023. The late Mr. Choi had been an independent non-executive Director since May 2022. On behalf of the Company, the Board would like to express its deepest sorrow for the departure of Mr. Choi and convey its condolences to his family.

The Board would also like to express its sincere appreciation to the late Mr. Choi for his valuable contribution to the Company in the past. Following the pass away of Mr. Choi, the composition of the Board comprises two executive Directors, two non-executive Directors and two independent non-executive Directors. Hence, the number of the independent non-executive Directors and the members of the Audit Committee has fallen below the minimum number required under Rules 3.10(1) and 3.21 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Remuneration Committee no longer comprise a majority of independent non-executive Directors as required under Rule 3.25 of the Listing Rules.

The Board is in the process of identifying a suitable candidate to fill the vacancies of the independent non-executive Director, the member of the Audit Committee and the Remuneration Committee, and it will use its best endeavours to ensure that a suitable candidate is appointed as soon as practicable and, in any event, within three months from the date of the pass away of Mr. Choi pursuant to Rules 3.11, 3.23 and 3.27 of the Listing Rules. The Company will make further announcement(s) as and when appropriate.