Aspial Lifestyle Limited announced cessation of Tan Keh Yan, Peter as Lead Independent Director. Mr. Peter Tan has been serving as an Independent Director of the Company for more than nine (9) years since his appointment. In compliance with the amended Rule 406(3)(d)(iv) of the listing manual Section B: Rules of the Catalist of the Singapore Exchange Securities Trading Limited, which prescribed a nine-year tenure limit for independent directors, Mr. Peter Tan has decided to step down as an Independent Director of the Company upon the conclusion of the forthcoming Annual General Meeting on 29 April 2024.

The Sponsor has interviewed Mr. Peter Tan, and is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the cessation of Mr. Peter Tan as an Independent Director.