Change - Announcement of Appointment::Appointment of Chief Financial Officer

The Audit Committee, Nominating Committee and the Board, having reviewed and considered the qualifications, work experience and suitability of Ms Tan Lay Lee ('Ms Tan'), are of the view that Ms Tan possesses the requisite experience and capabilities to assume the responsibilities as the Chief Financial Officer of the Group. Accordingly, the Nominating Committee and Audit Committee have recommended, and the Board has approved, the appointment of Ms Tan as Chief Financial Officer.

The Board refers to the announcement dated 6 November 2019 pertaining to the cessation of the outgoing Chief Financial Officer, Mr Lee Chong Ping, with effect from 24 January 2020, and wish to highlight that the appointment of Ms Tan with effect from 10 January 2020 will allow smooth transition and handover process.

Ms Tan has provided an undertaking (in the form set out in Appendix 7H) to the Company required under Rule 720(1) of the Catalist Rules.

Ms Tan was the Financial Controller of Mary Chia Holdings Ltd ('MCH') from 8 December 2015 to 10 March 2017, overseeing the Group's finance.

Two (2) announcements were made by MCH on the following dates :-

(a) On 13 May 2016, MCH announced that their CEO, Ms Wendy Ho was charged for receipts of financial guarantees from employees for two of MCH's subsidiaries - Spa Menu Pte Ltd. and Urban Home Urban Homme Face and Body Studio for Men Pte. Ltd.

(b) On 8 June 2016, one of MCH's subsidiary, Spa Menu Pte. Ltd. was charged under Section 5(1) of the Employment of Foreign Manpower Act (Chapter 91A) for failure to obtain a valid work pass for a foreign employee and MCH's CEO, Ms Wendy Ho was charged for breach of Rule 7(2) and Condition 5 of the Massage Establishment Act by the Singapore Police Force.