The Board of Directors of CSE Global Limited announced that the company has received a notification from Non- Independent Non-Executive Director, Mr. Lim How Teck that he will be taking a leave of absence from his director role in CSE for an initial period of 6 months following the on-going investigations of him together with certain individuals including current directors of Raffles Education Corporation Limited for a potential offence under the Securities and Futures Act 2001. Investigations are currently ongoing and Mr. Lim had been notified to attend the CAD's offices for the purposes of effecting their formal arrest and posting and release of bail. The Board has agreed, that it would be in the best interests of the Company for Mr. Lim to take a leave of absence from his duties as Non-Executive Non-Independent Director while the matter is being dealt with.

During Mr. Lim's absence from the Board, he will not participate in the meetings of the Board/Board Commitees and will abstain from all board's deliberation. Notwithstanding Mr. Lim's leave of absence, the Board is of the view that the current board composition maintains sufficient diversity in terms of skills, experience and knowledge to oversee the Company and Group's business affairs and to provide leadership and guidance to the Company, supported by a strong element of independent directors on the Board.