Max Ventures and Industries Limited at its board meeting held on January 21, 2022, approved Arthur Sater resigned from the position of Non-Executive Director of the Company with effect from the closure of the business hours on January 31, 2022. Arthur Seter was appointed on the Board as a nominee of New York Life Insurance Company. In view of resignation of Arthur-Seter, NYL has nominated Ka Luk Stanley Tai for appointment as a director of the Company.

Accordingly, Tai has been appointed as a Non-Executive Additional Director on the Board with effect from February 01, 2022. Saket Gupta had resigned from the position of Company Secretary and Compliance Officer of the Company vide his resignation letter dated December 02, 2021, in order to pursue opportunities outside the Company. The Board of Directors have accepted his resignation and he shall be relieved from the services of the Company with effect from the close of business hours on January 31, 2022.

Tai is a managing director at the office of the chief investment officer at New York Life Insurance Company.