The board of directors of Transcenta Holding Limited to announce that Dr. Kumar Srinivasan ("Dr. Srinivasan") has been appointed as an independent non-executive Director of the Company and a member of the nomination committee of the Board and the remuneration committee of the Board, with effect from December 19, 2022. The biographical details of Dr. Srinivasan are set out below: Dr. Srinivasan, aged 58, prior to joining the Company, served as the executive vice president and chief business officer of Turning Point Therapeutics (a biopharmaceutical company previously listed on NASDAQ, stock code: TPTX, but was delisted on August 16, 2022 and became a subsidiary company of Bristol Myers Squibb, a pharmaceutical manufacturer listed on the New York Stock Exchange) and was responsible for crafting and leading corporate strategy, licensing, business development and alliance of management activities. Prior to that, Dr. Srinivasan served as the vice president and global head of biopharmaceuticals for AstraZeneca Pharmaceuticals (a subsidiary of AstraZeneca PLC, which was listed on NASDAQ, stock code: ANZ), in which he was responsible for and leading all licensing and business development and alliance management activities across multiple therapy areas for the biopharmaceuticals business unit. Dr. Srinivasan holds an MBA from the University of Chicago's Booth School of Business in the United States, a
Ph.D. degree in organic chemistry from the Case Western Reserve University in the United States and a bachelor and master's degree with concentration in chemistry from the University of Madras in India. Dr. Srinivasan has entered into a letter of appointment with the Company for a term of three years commencing from December 19, 2022 and until terminated by either party by giving at least three months' notice. Dr. Srinivasan is subject to retirement by rotation and re-election at the forthcoming annual general meeting in accordance with the memorandum and articles of association of the Company and the Corporate Governance Code as set out in Appendix 14 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). Dr. Srinivasan will receive a director's fee of RMB200,000 per annum and is entitled to additional benefits (including any options and/or awards under the rules of any share option scheme or share award scheme to be adopted by the Company) at the Board's discretion, which has been determined by the Board upon recommendation of the remuneration committee of the Board with reference to his experience and duties with the Company and prevailing market conditions. Save as disclosed above, as at the date of this announcement, (i) Dr. Srinivasan does not hold any other directorships in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three (3) years; (ii) Dr. Srinivasan does not hold any other position in the Company or members of the Group; (iii) Dr. Srinivasan does not, and is not deemed to have any interests or short positions in any shares, underlying shares or debentures of the Company or any of its associated corporations within the meaning of Part XV of the SFO; and (iv) Dr. Srinivasan does not have any relationship with any Directors, senior management, substantial shareholders (as defined under the Listing Rules) or controlling shareholders (as defined under the Listing Rules) of the Company.