The board of directors of Vestate Group Holdings Limited announced that with effect from 1 April 2021, Mr. Kang Jianming ("Mr. Kang") resigned from his office of executive Director in order to devote more time to their other personal commitment, but remain as a consultant to the Group to contribute his experience and expertise. The Board announces that with effect from 1 April 2021, Mr. CHAU Wai Hing resigned as an independent non-executive Director and cease to be the member of the audit committee, remuneration committee and nomination committee of the Board, in order to devote more time to their other personal commitments. Following the resignation of Mr. Chau with effect from 1 April 2021, the Company has two independent non-executive Directors and the audit committee of the Board comprises of only two members. It results in non-compliance with the requirements under Rules 3.10(1) and 3.21 of the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules").