IMS Group Holdings Limited announced that the term of office of Mr. Chu Yin Kam ("Mr. Chu"), an independent non-executive Director, will expire on 25 January 2021 and his term of office will not be renewed as Mr. Chu wants to devote more time for his other business engagement. Accordingly, Mr. Chu will cease to be the chairman of the Audit Committee and a member of the Nomination Committee under the Board with effect from 25 January 2021. Mr. Chu confirmed that he has no claim against the Company for loss of office as an independent non-executive Director whether by way of compensation, remuneration, benefits or otherwise. He also confirmed that he has no disagreement with the Board and there are no other matters in relation to the change of independent non-executive Directors that need to be brought to the attention of the shareholders of the Company. The Board also announces that Mr. Li Chun Hung (" Mr. Li ") has been appointed as an independent non-executive Director with effect from 25 January 2021 and at the same time succeed Mr. Chu for all the above positions vacated by him under the Board. Mr. Li, aged 59, is a certified public accountant in Hong Kong and has over 20 years of experience in professional accounting. Mr. Li is a fellow member of the Hong Kong Institute of Certified Public Accountants, a fellow member of the Association of International Accountants, a fellow member of the Institute of Certified Management Accountants, a fellow member of the Taxation Institute of Hong Kong, a member of the Society of Chinese Accountants and Auditors as well as a member of the Chartered Institute of Arbitrators. Mr. Li is currently an independent non-executive director of Smart Globe Holdings Limited. Pursuant to the appointment letter between the Company and Mr. Li, his appointment as an independent non-executive Director shall be for an initial term of three (3) years commencing from 25 January 2021. To fill the casual vacancy of the Board, Mr. Li shall hold office until the first general meeting after his appointment and shall then be subject to rotation and re-election at annual general meetings of the Company in accordance with the Articles of Association of the Company and the Rules Governing the Listing of Securities on GEM of The Stock Exchange of Hong Kong Limited.