Hosen Group Ltd. announced cessation of Lim Heng Seng as Non-Executive Independent Director, Chairman of the Nominating Committee and a member of the Audit Committee and Remuneration Committee. Mr. Lim Actively participated in the proceedings and decision-making process of the Board and the Board Committees' meetings. Mr. Lim Heng Seng (Mr. Lim) has been serving in the Board of Directors since 5 July 2004.

He has indicated his intention to resign as the Non-Executive Independent Director, the Chairman of the Nominating Committee and a member of the Audit Committee and Remuneration Committee with effect from 31 October 2023 to pave the way for Board refreshment and to comply with the nine-year tenure limit for independent directors which has been announced by the Singapore Exchange Regulation on 11 January 2023. After having interviewed Mr. Lim and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in the announcement, there are no other material reasons for the resignation of Mr. Lim as the Non-Executive Independent Director of the Company.