Shen Yao Holdings Limited announced resignation of Teo Qin Pei, Jessica as Deputy Chief Executive Officer. Ms Teo is resigning as she wishes to pursue other opportunities. Notwithstanding her resignation as Deputy Chief Executive Officer of the Company, Ms Teo will remain as a consultant to the Group during the transitional period until 31 December 2022, which may be extended on a monthly basis as agreed between parties.

The Sponsor, having spoken to Ms Teo, is satisfied that, other than as disclosed in this announcement, there are no other material reasons for the resignation of Ms Teo.