Timeless Software Limited announced that Ms. Tsang Wai Chun Marianna has tendered her resignation as an Independent Non- Executive Director, a member and the chairlady of the Audit Committee, and a member of each of the Nomination Committee and Remuneration Committee of the Company with effect from 31 March 2023 due to her decision to devote more time to other personal engagements. Ms. Tsang has confirmed that she has no disagreement with the Board and there is no matter relating to her resignation that needs to be brought to the attention of the shareholders of the Company and the Exchange. The company also announced The appointment of Mr. Yu Leung Fai as an Independent Non-Executive Director of the Company, a member and the chairman of the Audit Committee, and a member of each of the Nomination Committee and Remunertion Committee of the Company shall take effect from 31 March 2023.

Mr. Yu, aged 46, has extensive experience in the field of accounting and corporate services. He joined Fung, Yu & Co. CPA Limited (formerly known as Fung, Yu & Co.) in 2001 and is currently its managing partner.

He holds a Bachelor of Commerce (Honour) degree from the University of Toronto and a Bachelor of Laws degree from the University of London. Mr. Yu is also a member of the American Institute of Certified Public Accountants, Certified Practicing Accountants of Australia and the Hong Kong Institute of Certified Public Accountants, and a Certified Trust Practitioner of the Hong Kong Trustee Association. Mr. Yu has been the independent non-executive director and company secretary of certain listed companies in Hong Kong.

He has been the independent non-executive director of Realord Group Holdings Limited and Dowway Holdings Limited since 2014 and 2019 respectively. Mr. Yu has also been the independent non-executive director of The Sincere Company, Limited and CSMall Group Limited since 2021. Mr. Yu has been the joint company secretary or company secretary of Beijing Media Corporation Limited, Yuanda China Holdings Limited, and Sany Heavy Equipment International Holdings Company Limited since 2010, 2012 and 2017 respectively.