The board of directors of Yorkshine Holdings Limited refers to the announcements released by the Company on 17 December 2019 in relation to the respective resignations of Mr. Foo Teck Leong ("Mr. Foo") and Mr. Tang Chi Loong ("Mr. Tang") as independent non-executive directors of the Company. The Board wishes to clarify and update shareholders that Mr. Foo and Mr. Tang will remain on the Board as independent non-executive directors of the Company, and will facilitate discussions with the Company on whether a reasonable exit offer to shareholders will be forthcoming from the Company or the controlling shareholder of the Company. The Board will continue to keep shareholders updated on any further material developments.