OTS Holdings Limited announced that cessation of Toh Kiam Hwee as Group financial controller. The overall finance, accounting and taxation functions across Group's businesses. He heads the finance team and also supports the senior management team on investments made by Group.

To pursue other career opportunities. Mr. Toh Kiam Hwee ("Mr Toh") has confirmed that there are no concerns with regard to financial reporting that led to his resignation and there are no disagreements with regard to practices that will have an impact on the Group's financial reporting. SAC Capital Private Limited, after having enquired Mr. Toh, is satisfied that, save as disclosed in this announcement, there are no material reasons for the resignation of Mr. Toh.

Whilst the Company is in the midst of identifying a replacement and will make the necessary announcement in due course, Mdm Ong Chew Yong, Executive Director, shall oversee the Group's finance and accounting function during this period and will be assisted by the Group Finance Manager from the existing finance team. The Nominating Committee has done an exit interview with Mr. Toh and ascertained that there are no material reasons in respect of the Company for his resignation.