Shareholders requested the removal of executive director Wang Juan from LANCANG TEA (06911).

LANCANG TEA (06911) issued an announcement that the Board of Directors received a written proposal from a shareholder (proposing shareholder) dated January 2, 2025 regarding the agenda for the first extraordinary general meeting of shareholders in 2025 (the extraordinary general meeting). The proposing shareholder requested the Board of Directors to propose a resolution at the upcoming 2025 first extraordinary general meeting of shareholders to remove Ms. Wang Juan from her position as executive director (proposed removal of executive director). According to the proposal, the proposing shareholder acknowledges Ms. Wang Juan's efforts and contributions during her tenure with the company, but believes that her management philosophy does not align with the group's current market environment and development needs, and is therefore not conducive to the group's business development at this stage. To further optimize the group's governance structure, enhance management and operational efficiency, and ensure the long-term and sustainable development of the group, the proposing shareholder put forward this proposal. After conducting all reasonable inquiries, the Board of Directors became aware that as of the proposal date, the proposing shareholder collectively holds a total of 8,550,000 shares in the company, representing 6.79% of the total share capital of the company. According to Article 59 of the company's articles of association, a shareholder holding 3% or more of the company's shares individually or collectively can propose an extraordinary resolution and submit it in writing to the convener of the shareholders' meeting at least 10 days before the meeting. The convener shall issue a supplementary notice of the shareholders' meeting within two days of receiving the proposal, announcing the content of the extraordinary proposal. Therefore, the Board of Directors will present a resolution to remove the executive director for voting by shareholders at the extraordinary general meeting.