SingAsia Holdings Limited announced that Mr. Lim Cheng Hock, Lawrence (Mr. Lim CH) retired as an independent non-executive Director after the conclusion of the AGM and did not offer himself for re-election at the AGM due to his other commitments. Mr. Lim Wee Pin (Mr. Lim WP) retired as an independent non-executive Director after the conclusion of the AGM and did not offer himself for re-election at the AGM due to his other commitments. Mr. Lim CH and Mr. Lim WP have confirmed that they did not have any disagreement with the Board and that there were no matters in relation to their retirement as independent non-executive
Directors that needed to be brought to the attention of the Stock Exchange or the Shareholders. Upon the retirement of Mr. Lim WP and Mr. Lim CH, the number of the Company's independent non-executive Directors will be less than 3 and will represent less than one-third of the Board as required by Rules 5.05(1) and 5.05A of the GEM Listing Rules. The Company will endeavor to identify appropriate candidates as soon as possible to ensure compliance with the GEM Listing Rules.