The Board of Directors of 17LIVE Group Limited referred to the various relevant announcements of Vertex Technology Acquisition Corporation Ltd. (VTAC) and the Company from 2 October 2023 to 8 December 2023, in relation to the Proposed Transactions, including the Proposed Business Combination. The Board announced that the conditions precedent for the completion of the Proposed Business Combination have been fulfilled or deemed fulfilled and the Proposed Business Combination has been completed on 7 December 2023 after trading hours (Completion). Following Completion, Mr. Tan Hup Foi (Independent Non-Executive Director) and Dr. Steve Lai Mun Fook (Independent Non-Executive Director) have been appointed to the Board. In accordance with the Sale and Purchase Agreement, Mr. Chua Kee Lock has resigned as the Non-Executive Chairman of VTAC. Following the changes, the Board Committees have been reconstituted with effect from 7
December 2023 as: Audit Committee: Mr. Tan Hup Foi (Chairman), Dr. Steve Lai Mun Fook (Member) and Ms. Chen Xiuling (Member). Nominating Committee: Dr. Steve Lai Mun Fook (Chairman), Mr. Hideto Mizuno (Member) and Ms. Chen Xiuling (Member). Remuneration Committee: Dr. Steve Lai Mun Fook (Chairman), Mr. Tan Hup Foi (Member) and Mr. Hideto Mizuno (Member). The Board considers the members of the Audit Committee (namely, Mr. Tan Hup Foi, Dr. Steve Lai Mun Fook and Ms. Chen Xiuling) to be independent for the purpose of Rule 704(8) of the Mainboard Rules.