TEN PAO GROUP Proposes Appointment of New Independent Non-Executive Directors

TEN PAO GROUP (01979) announced that Mr. Zhu Yipeng will retire by rotation as an independent non-executive director. He will also step down from his positions as Chairman of the Audit Committee and member of both the Remuneration Committee and Nomination Committee, effective upon the conclusion of the Annual General Meeting.

Mr. Li Junxiong will retire by rotation as an independent non-executive director. He will cease to serve as Chairman of the Remuneration Committee and member of both the Audit Committee and Nomination Committee, effective upon the conclusion of the Annual General Meeting.

The Board has proposed the appointment of Mr. Zhang Zhanhao as an independent non-executive director. His appointment is subject to approval by shareholders via an ordinary resolution at the Annual General Meeting. If approved, it will take effect upon the conclusion of the meeting. Following his appointment, Mr. Zhang will also be appointed as Chairman of the Audit Committee and a member of both the Remuneration Committee and Nomination Committee.

The Board has also proposed the appointment of Ms. Ferheen Mahomed as an independent non-executive director. Her appointment is subject to shareholder approval by ordinary resolution at the Annual General Meeting and, if approved, will become effective upon the conclusion of the meeting. Upon her appointment, Ms. Mahomed will also join the Remuneration Committee and Nomination Committee as a member.

Concurrently, Dr. Lui Yan-wing, the current independent non-executive director, will see his role on the Remuneration Committee change from member to Chairman, effective upon the conclusion of the Annual General Meeting.