Spackman Entertainment Group Limited announced cessation of Richard Lee as Executive Director and Interim CEO. Richard Lee has been the interim Chief Executive Officer ("CEO") since January 2018. As the Company has found a suitable candidate to serve as the permanent CEO, Mr. Lee shall transition to be a Non-executive Director.

Given Mr. Lee's extensive experience in the investment in media and technology sector, he shall provide direction, guidance and advice to the Group for new business ventures and M&As. He shall also be focusing on other interests and businesses of the wider Spackman Group and remain as a Director of the Group's associated company, Spackman Media Group Limited. Based on its enquiries the Company's Sponsor, RHT Capital Pte.

Ltd., is satisfied that other than as disclosed in this announcement, there are no other material reasons for the resignation of Mr. Lee as the Interim CEO of the Company.