Infinities Technology International (Cayman) Holding Limited announced Following the pass away of Mr. Choi, the composition of the Board comprises two executive Directors, two non-executive Directors and two independent non-executive Directors. As such, the number of the independent non-executive Directors and the members of the Audit Committee have fallen below the minimum number as required under Rules 3.10(1) and 3.21 of the Listing Rules, and the Remuneration Committee no longer comprised a majority of independent non-executive Directors as required under Rule 3.25 of the Listing Rules. As disclosed in the announcement of the Company dated 11 October 2023, over the past few months, the Company had taken steps actively to identify suitable candidates to be appointed as an independent non-executive Director and to fill the vacancy in the Audit Committee and the Remuneration Committee.

Previously, the Company had identified a potential candidate, but the Company has yet to agree on the proposed terms of appointment with such candidate. Therefore, the Company has commenced the identification process for the independent non-executive Director again. Considering the board diversity policy of the Company and the current gender composition of the Board (i.e. being all male Directors), the Company intends to appoint a female independent non-executive Director.

Nevertheless, the Board does not rule out the possibility of appointing a male independent non-executive Director.