Addvalue Technologies Ltd. announced that Mr. Lim who had served on the Board for more than 19 years did not seek re-election so as to comply with the Code of Corporate Governance, which, unless otherwise adequately explained by the Board, deems any independent director who serves for an aggregate period of more than 9 years to be not independent. Following his retirement, Mr. Lim also ceased to be the Chairman of the Audit Committee, the Chairman of the Nominating Committee and a member of the Remuneration Committee, but shall instead serve as a non-board executive Finance Director of the Company.