Change - Announcement of Cessation::Resignation of Independent Non-Executive Director

Issuer & Securities

Issuer/ Manager
17LIVE GROUP LIMITED
Securities
17LIVE GROUP LIMITED W281207 - KYG9481M1116 - VT2W
17LIVE GROUP LIMITED - KYG8074N1060 - LVR
Stapled Security
No

Announcement Details

Announcement Title
Change - Announcement of Cessation
Date &Time of Broadcast
16-Oct-2025 07:06:49
Status
New
Announcement Sub Title
Resignation of Independent Non-Executive Director
Announcement Reference
SG251016OTHR2KYP
Submitted By (Co./ Ind. Name)
Eunice Hooi
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
Resignation of Independent Non-Executive Director.

DBS Bank Ltd. acted as the sole issue manager for the business combination of Vertex Technology Acquisition Corporation Ltd with 17LIVE Inc.

Additional Details

Name Of Person
Chen Xiuling
Age
43
Is effective date of cessation known?
Yes
If yes, please provide the date
15/10/2025
Detailed Reason (s) for cessation
The Board of Directors of 17LIVE Group Limited ("17LIVE") refers to several media reports published on 15 October 2025.

The Board was made aware on the evening of 15 October 2025, that its Independent Director, Ms. Chen Xiuling, has been included in the Specially Designated Nationals List by The U.S Department of the Treasury's Office of Foreign Assets Control (OFAC).

The Board wishes to inform that 17LIVE Group has interacted with Ms. Chen Xiuling in her role as Independent Director. Besides providing oversight as a director and member of the Board sub-committees, Ms. Chen Xiuling is not involved in the business and operations of 17LIVE. Further, 17LIVE has never done business with Ms. Chen Xiuling, the company she works in, DW Capital or the shareholder of DW Capital, Chen Zhi.

The Board wishes to announce that Ms. Chen Xiuling has voluntarily resigned as a director of 17LIVE last evening and the Board has accepted her resignation.

The Board will look for and identify a new independent director to be appointed to the Board in due course.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
No
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Yes
If Yes, Please provide full details
Please refer to the above.
Any other relevant information to be provided to shareholders of the listed issuer?
Yes
If Yes, Please provide full details
Please refer to the above.
Date of Appointment to current position
07/12/2023
Does the AC have a minimum of 3 members (taking into account this cessation)?
No
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
2
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
0
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Independent Non-Executive Director, Member of Audit Committee and Nominating Committee
Role and responsibilities
Non-Executive.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
NIL
Shareholding interest in the listed issuer and its subsidiaries?
No
Other Directorships
Past (for the last 5 years)
1. Coleman College Pte. Ltd.
2. Huntsman Investments Pte. Ltd.
3. Cub House Pte. Ltd.
4. Key Advisors Pte. Ltd.
Present
1. DW Capital Holdings Pte. Ltd.
2. Neil Professional Services Pte. Ltd.
3. Citylink Solutions Pte. Ltd.
4. Atlaswise Consultants Pte. Ltd.
5. Warpcapital Yacht Management Pte. Ltd.
6. Capital Zone Warehousing Pte. Ltd.
7. Cloud Xero Management Pte. Ltd.
8. Sterling Capital Management Pte. Ltd.
9. Elite Afterschool Care Pte. Ltd.
10. Good Equity Team Pte. Ltd.