Accrelist Ltd. announced that Ng Li Yong not be seeking re-election and will retire as the Lead Independent Director of the Company at the close of forthcoming annual general meeting of the Company after having served on the Board for an aggregate period of more than 9 years. Upon his retirement, Mr. Ng will step down from his position as the Lead Independent Director, Chairman of the Nominating Committee and Remuneration Committee, and a member of the Audit Committee of the Company. In view of Mr. Ng's retirement, the positions of Chairman of the Nominating Committee and Remuneration Committee will become vacant until the appointment of a new Chairman of the Nominating Committee and Remuneration Committee by the Board as soon as practicable.

Based on its enquiries and to the best of its knowledge, the Sponsor is satisfied that, save as disclosed in this announcement, there are no other material reasons for the retirement of Mr. Ng. The Company will be assessing suitable candidates to fill the vacancy to meet the minimum number of members within the Audit Committee of the Company pursuant to the Catalist Rules. Other DirectorShips Past C&G Environmental Protection Holdings Limited.