Foresta Group Holding Limited advises that Managing Director, Ramon Dudley Mountfort, has formally resigned from the Board effective July 12, 2024. Furthermore, the Company advised that Russell Wayne Allen has been appointed to the Board as a Non-Executive Director effective 12 July 2024. Russell Wayne Allen is a highly successful businessman, entrepreneur and investor.

Mr. Allen has over 40 years' experience across several industries including international business, global trading, transport and logistics, construction, retail, hospitality, property development and investment. He has built, owned and operated several successful businesses over his career. He was previously Managing Director of Alenco Pty Ltd. and Noirot Pty Ltd. Mr. Allen is currently Managing Director of Formosa Group Australia Pty Ltd. Mr. Allen has a wealth of business experience, expertise and acumen, and represents a valuable addition to the Board.