The board of directors of Nanyang Holdings Limited announced that Kwan Wing Kwong Zachary has informed the Board of his intention to retire voluntarily as INED at the AGM. Following his retirement, with effect from the conclusion of the AGM, Kwan will cease to be an INED, the chairman of the Remuneration Committee, a member of the Audit Committee and a member of the Nomination Committee of the company. The Board also resolved to appoint Wong Chi Kwong Patrick, an INED, as the chairman of the Remuneration Committee of the Company with effect from the conclusion of the AGM.