The board of directors of VCREDIT Holdings Limited (the 'Company') refers to the retirement of Dr. Seek Ngee Huat ('Dr. Seek') as an independent non-executive director of the Company at the annual general meeting of the Company held on 1 June 2020. As a result of Dr. Seek's retirement, Mr. Chen Penghui, an independent non-executive director, has been appointed to the Nomination Committee.