CAPITAL VC (02324) announced the establishment of an independent board committee, comprising all independent non-executive directors, namely Ms. Li Huanyan, Mr. Zhang Weijian, and Ms. Luo Yanling. The committee has been formed to advise independent shareholders on whether the terms of the rights issue are fair and reasonable and in the interests of the company and shareholders as a whole, and to provide recommendations to independent shareholders on voting at the special general meeting.

Ronggao Finance Limited, a licensed corporation approved by the Securities and Futures Commission to conduct Type 1 (dealing in securities) and Type 6 (advising on corporate finance) regulated activities under the Securities and Futures Ordinance, has been appointed as the independent financial advisor to advise the independent board committee and independent shareholders on whether the terms of the rights issue are fair and reasonable. The appointment of the independent financial advisor has been approved by the independent board committee.