The board of GREENTECH I-NEW (00195) has announced the formation of an independent board committee in accordance with the Takeovers Code. This committee, comprising independent non-executive directors with no interest in the partial offer, has been established to advise eligible shareholders on the matter.

The independent directors on the committee are Datin Sri Lim Mei Ling, Mr. Jin Yuliang, and Ms. Peng Wenting. Following the committee's approval, the company has appointed FIRST SHANGHAI Capital Limited as its independent financial advisor.

FIRST SHANGHAI Capital, a licensed corporation authorized for Type 6 regulated activities (advising on corporate finance) under the Securities and Futures Ordinance, will provide the independent board committee with advice regarding the partial offer and the acceptance of its terms.