The board of directors of Transcorp Holdings Limited announced that Mr. Kevin John Chia ("KJC") has tendered his resignation as Non-Executive and Non-Independent Director of the Company with effect from 22 March 2020. KJC informed the Company of his resignation via email on 22 March 2020. Upon receiving KJC's notice of resignation, the Board discussed with KJC and set out that KJC had to settle the three matters as stated below before the Company could effect his resignation. This arises from the current lack of resources in the Company.