The board of directors of Innovax Holdings Limited received the resignation letter tendered by Mr. Lo Wai Kwan, a director of the Company, on 18 December 2020. Mr. Lo has resigned from his position as a director of the Company, a member of audit committee, the chairman of the remuneration committee and a member of the nomination committee with effect from 31 December 2020 due to his wishes to devote more time to his personal commitments. Following his resignation, Mr. Lo ceased to be a member of the audit committee, the chairman of the remuneration committee and a member of the nomination committee of the Board. The Board further announced that with effect from 31 December 2020, Mr. Choi Wai Ping has been appointed as a member of the audit committee and the chairman of the remuneration committee to take the place of Mr. Lo.