Serrano Limited announced cessation of Choh Thian Chee Irving as Independent Chairman from the Board with effect from January 16, 2018. Further to the approval of Scheme Creditors for the respective amended schemes of arrangement of the company and Serrano Holdings on 20 December 2017, Mr. Choh Thian Chee Irving has resigned to facilitate the restructuring of the Board of Directors of the company. The Company is assessing suitable candidate(s) for its Board and board committees, and will announce any new appointments in due course. Based on its enquiries, the Company's Sponsor is satisfied that, other than as disclosed in this announcement, there are no material reasons for the cessation of Mr. Choh Thian Chee Irving as the Independent Chairman of the company.