Net Pacific Financial Holdings Limited announced the cessation of Francis Lee Fook Wah as Independent Non-Executive Director. Reason For Cessation: Francis Lee Fook Wah ("Mr Francis") joined the Board in 2012. He has decided to step down to allow board renewal as well as to pursue other directorship opportunities.

After having interviewed Mr. Francis and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr. Francis as an Independent Non-Executive Director of Net Pacific Financial Holdings Limited.