Willas-Array Electronics (Holdings) Limited announced that with reference is made to the announcement of the company dated May 30, 2023 in relation to the retirement by rotation of Mr. Lim Lee Meng, one of the independent non-executive directors of the company (INEDs), with effect from the conclusion of the annual general meeting of the Company held on July 28, 2023. Following Mr. Lim's retirement, the board of directors of the Company (the "Board") comprises only two INEDs and the audit committee of the Board comprises two members, the number of both of which falls below the minimum number requirement under Rules 3.10(1) and 3.21 of the Hong Kong Listing Rules respectively, and the latter of which also falls below the minimum number requirement under Rule 704(8) of the Listing Manual of the Singapore Exchange Securities Trading Limited (the "Singapore Listing Manual"). As disclosed in the May Announcement, the Company has begun its process of identifying suitable candidates to fill the vacancy of the position left by Mr. Lim since May 2023.

However, the Company still has not identified any appropriate candidates as of the date of this announcement. The Company will use its best endeavors to identify suitable candidates to fill the vacancies within two months and in any event within three months from July 28, 2023 so as to fulfill the requirements under Rules 3.10(1) and 3.21 of the Hong Kong Listing Rules, as well as Rule 704(8) of the Singapore Listing Manual.