CAA Resources : Change of Independent Non-executive Director and Chairman of Audit Committee

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CAA Resources Limited 優庫資源有限公司 *

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 02112)

CHANGE OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND CHAIRMAN OF AUDIT COMMITTEE

The board (the "Board") of directors (the "Directors") of CAA Resources Limited (the "Company"), together with its subsidiaries, the "Group") hereby announces that, Mr. Kong Chi Mo ("Mr. Kong") has resigned as an independent non-executive director of the Company in order to focus on his other business and personal commitments, with effect from 21 August 2017. Subsequent to his resignation, Mr. Kong will cease to be the chairman of the audit committee of the Company.

Mr. Kong has confirmed that he has no disagreement with the Board and is not aware of any matter in relation to his resignation that shall be brought to the attention of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and the shareholders of the Company (the "Shareholders"). Save as disclosed above, the Board is not aware of any other matter in relation to his resignation that shall be brought to the attention of the Stock Exchange and Shareholders.

The Board wishes to express its sincere gratitude to Mr. Kong for his contribution to the Company during his tenure of service.

Appointment of Mr. Leung Yiu Cho

The Board is pleased to announce that, Mr. Leung Yiu Cho (梁耀祖) ("Mr. Leung"), aged 38, is appointed as an independent non-executive director and chairman of audit committee of the Company with effect from 21 August 2017.

Mr. Leung has over 10 years of experience in financial management and corporate finance. Mr. Leung was appointed as independent non-executive director of Zheng Li Holdings Limited (a company listed on the Growth Enterprise Market of the Stock Exchange with the stock code of 8283) since 21 October 2016 and an executive director of Primeview Holdings Limited ( "Primeview" , formerly known as "Artini China Co. Ltd." ) (Stock Code: 0789), a company listed on the Main Board of the Stock Exchange ( "Main Board" ) since 1 December 2016. Mr. Leung joined Primeview as its chief financial officer in December 2013 and has been its investment principal since October 2015. As the investment principal of Primeview, Mr. Leung is responsible for monitoring corporate finance transactions and investors relationship. Prior to that, Mr. Leung started his employment with Deloitte Touche Tohmatsu in June 2005 as a semi- senior accountant before leaving as a senior accountant in July 2006. Between July 2006 and August 2007, he was the assistant financial controller of Ta Yang Group Holdings Limited (大洋集團控股有限公司) (Stock Code: 1991), a company listed on the Main Board. From August 2007 to September 2008, Mr. Leung joined CSC Securities (HK) Limited (群益證券（香港）有限公司) as an executive in the investment banking department. Mr. Leung was the financial controller and board secretary of United Technology Holdings Company Limited (聯合科技控股有限公司) in 2011. From March 2012 to August 2013, he joined Highland Asset Management Corporation (漢 鎰 資 產 管 理 股 份 有 限 公 司) as its senior deputy finance manager and board secretary.

Mr. Leung graduated from Lingnan University (嶺南大學) in Hong Kong, in December 2001 with a bachelor of business administration degree. He then obtained his masters of corporate finance degree from The Hong Kong Polytechnic University (香港理工大學) in December 2006. He was admitted as a member of the Associate of Chartered Certified Accountants in March 2014. Save as disclosed above, Mr. Leung did not hold any directorships in any public listed companies in the last three years.

As at the date of this announcement, Mr. Leung does not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) and has no relationships with any directors, senior management, substantial shareholders, or controlling shareholders of the Company.

Mr. Leung has entered into an appointment letter with the Company for a term of three years with effect from 21 August 2017 subject to re-election. He is subject to retirement but eligible for re-election at the next general meeting of the Company. Thereafter, he is subject to retirement by rotation and re-election in accordance with the articles of association of the Company. Mr. Leung shall be entitled to an annual fee in a sum of HK$240,000 which has been determined by the Board with reference to the prevailing market conditions, his duties and responsibilities.

Save as disclosed in this announcement, the Board is not aware of any other information that are required to be disclosed pursuant to Rule 13.51(2) of the Listing Rules on the Stock Exchange or any other matters that need to be brought to the attention of the shareholders of the Company.

The Board would like to extend its warmest welcome to Mr. Leung to join the Board.

By Order of the Board

CAA Resources Limited Chu Lok Fung Barry

Company Secretary

Hong Kong, 21 August 2017

As at the date of this announcement, the executive Directors are Mr. Li Yang, Ms. Li Xiaolan, Mr. Wang Er, Ms. Xu Mijia, and the independent non-executive Directors are Mr. Leung Yiu Cho, Dr. Li Zhongquan and Dr. Wang Ling.

* For identification only