The Board of iBuyNew Group Limited has accepted the resignation of Mr. Alex Caraco as Managing Director and CEO of the company. His resignation is effective immediately. The Board has appointed Mr. Bill Nikolouzakis as CEO with immediate effect.

Bill is the founder of Nyko Property (which iBuyNew acquired in 2016). Bill is already closely familiar with the company and its business given that he was previously Head of Corporate Partnerships for iBuyNew. The Board is also announced that current Non-Executive Director Warren McCarthy will assume the role of Non-Executive Chairman of the iBuyNew group with immediate effect, while Calvin Ng will step down as Non- Executive Chairman but will remain on the Board as Non-Executive Director.