ContiOcean Group has announced that Ms. Wu Xianqiao has tendered her resignation as an independent non-executive director to dedicate more time to her other professional commitments and personal affairs.

In accordance with the company's articles of association, Ms. Wu will continue to perform her duties as an independent non-executive director until a successor is appointed. Her resignation will become effective upon the election of a new independent non-executive director at an extraordinary general meeting to be convened by the company.

Upon the effective date of her resignation, Ms. Wu will cease to be a member of both the company's audit committee and nomination committee.

Following the relevant provisions of the articles of association, the board of directors, upon the recommendation of the nomination committee, has nominated Ms. Gong Wen as a candidate for independent non-executive director. This nomination will be submitted for consideration at the company's forthcoming extraordinary general meeting.

Should Ms. Gong be appointed as an independent non-executive director, she will also be appointed as a member of both the audit committee and the nomination committee. Her term will commence from the date of approval at the extraordinary general meeting and will last until the expiry of the current term of the second board of directors.