The board of directors of Tai Ping Carpets International Limited announced that Mr. Andrew Clifford Winawer Brandler ("Mr. Brandler") has tendered his resignation as a Non-Executive Director of the Company with effect from 15 December 2023 in order to devote more time to his other personal commitments. The Board further announces that Mr. Frederick Edward Elkin Mocatta ("Mr. Mocatta") has been appointed by the Board as a Non-Executive Director of the Company with effect from 15 December 2023. Mr. Mocatta, aged 36, is an executive at Sir Elly Kadoorie & Sons Limited.

From 2017 to 2022, he led a division of Shanghai Pharmaceuticals Holding Co. Ltd. ("SPH"), latterly as Managing Director responsible for SPH's investments. He started his career financing industrial projects and in investment management.

Mr. Mocatta serves as a board member of various charitable institutions, including Carmel School. He studied Chinese at Yale University and National Taiwan University. He holds a BA degree from Yale University.