Luk Fook Holdings (International) Limited announced the following changes resulting from the election of Chairman, and Deputy chairman and retirement of non-executive directors following the Board meeting and AGM held on August 22, 2012. Mr. LO Mun Lam, Raymond, aged 59, joined the group as Independent Non-Executive Director since 2004 and was elected as Chairman of the Board on April 12, 2005. Owing to personal reasons, he did not offer himself for re-election as Chairman at the Board meeting held immediately after the AGM on August 22, 2012.

However, Mr. LO remains an Independent Non-Executive Director and Chairman of the Audit Committee and Nomination Committee. He is also a member of the Remuneration Committee. Mr. WONG Wai Sheung, aged 62, the founder and Chief Executive of the group, has been elected as Chairman of the company, with effect from the Board meeting held immediately after the AGM on August 22, 2012.

He is also a member of the Remuneration Committee and Nomination Committee. He has over 45 years of experience in the jewellery industry and is responsible for the overall strategic planning and management of the group. Mr. Wong is a member of the Guangzhou Huadu District Municipal Committee of the Chinese People's Political Consultative Conference, the Associate Director of The Kowloon Gold Silver and Jewel Merchant's Staff Association, the Honorary Permanent Chairman of Hong Kong Jade Association, Chairman of Supervisory Committee of The Kowloon Pearls, Precious Stones, Jade, Gold and Silver Ornament Merchants Association, the Honorary Chairman of Macau Goldsmith's Guild, the Honorary Chairman of the First General Committee of Guangdong Golden Jewelry and Jade Industry's Association, the Honorary Vice-president of the Gems & Jewelry Trade Association of China, the Honorary Chairman of the Hong Kong Small and Medium Enterprises Association, the Honorary Chairman of Hong Kong Gemstone Manufacturers' Association.

Mr. WONG Ho Lung, Danny, aged 35, was elected Deputy Chairman. He is also the Director and Operations Manager of the Group. He joined the Group in 2002 and is responsible for the execution and implementation of the group's operation directions and strategies and actively participates in management information systems including hardware integration and software development.

He is also in charge of the group's image rebranding and the design of its retail outlets. With rich overseas experiences and background, Mr. Wong is principally responsible for the design and establishment of the Group's branches worldwide. Mr. Wong is also an active participant in the community and is currently a Standing Committee member for Sihui County, Guangdong Province, of the Chinese People's Political Consultative Conference; Permanent President of Sze Wui and Kwong Ning Clansman's Association (Hong Kong) Limited; Honorary President of Junior Police Call of Kwai Tsing District; Honorary President of Kwai Tsing Fire Safety Ambassador Management Committee; Vice-president of the Executive Committee of Sham Shui Po Council For the Promotion of Cultural & Recreational Services Ltd. Mr. WONG Koon Cheung and Mr. CHAN Wai, Non-Executive Directors, owing to personal reasons did not offer themselves for re-election at the company's Annual General Meeting (‘AGM') held on August 22, 2012.

Therefore, both Mr. WONG and Mr. CHAN ceased to be directors of the company with effect from the conclusion of the AGM.