The board of directors of CIL Holdings Limited announced that Mr. Chan Siu Kay ("Mr. Chan") advised he is not in a position to devote his time to the affairs of the Company with immediate effect on 19 December 2022. Mr. Chan also ceased Chairman of Audit Committee, Member of Remuneration Committee and Nomination Committee with effect from 19 December 2022. Mr. Chan has confirmed that he has no disagreement with the Company and there is no matter relating to his cessation that needs to be brought to the attention of the shareholders of the Company.

Following the resignation of Mr. Chan, the Company has two Independent Non-executive Directors, which results in the current number of Independent Non-executive Directors falling below the minimum number required under Rule 3.10(1) of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules") or one-third of the board as required under Rule 3.10A of Listing Rules; two members of Audit Committee, which results in the number of Audit Committee falling below the minimum number required under Rule 3.21 of the Listing Rules; no Chairman of Audit Committee, which does not comply with Rule 3.25 of the Listing Rules.