The board of directors of Yu Tak International Holdings Limited announced that Mr. LAM Tin Faat (Mr. LAM) has ceased to serve the Company as an independent non-executive Director (INED) since 20 June 2023. Mr. LAM had served the Company for more than nine years and he did not offer for re-election in the Annual General Meeting of 20 June 2023 in compliance with the newly adopted Code Provisions B.2.4 of GEM Listing Rule Appendix 15. Prior to his retirement, Mr. LAM was as the Chairman of Audit Committee, Remuneration Committee and Nomination Committee, Mr. LAM has confirmed that he has no claim against the Company and has no disagreement with the Board.

In addition, there are no matters that need to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited in relation to his retirement. The appointment of Mr. POON Hon Yin (Mr. POON) as an INED was approved by the shareholders by ordinary resolution in the Annual General Meeting of 20 June 2023. Mr. POON has been the company secretary, financial controller, and an authorized representative of Innovative Pharmaceutical Biotech Limited, a listing company in Hong Kong (0399.HK) since 14 May 2013.

He is qualified as a Certified Public Accountant registered with the Hong Kong Institute of Certified Public Accountants and is also a fellow member of the Association of Chartered Certified Accountants. The Company has entered a service contract with Mr. POON for a term of three years commencing 20 June 2023 as an INED. He is also appointed as the Chairman of Audit Committee, Remuneration Committee and Nomination Committee.

The contract will be automatically renewable for successive terms of one year subject to retirement by rotation and re-election at annual general meetings and in accordance with the Bye-laws of the Company.