The board of directors of TeleEye Holdings Limited announced that Ms. Wu Yi Shuan and Mr. Miao Benny Hua-ben have been appointed as independent non-executive Directors with effect from 27 June 2016. Ms. Wu Yi Shuan is most recently Special Assistant to the managing director at Linpo Group. Ms. Wu will hold office until the next annual general meeting of the Company and is eligible for re-election at the meeting, and is subject to retirement by rotation and re-election at least once every three years at the annual general meeting of the company.

Mr. Miao Benny Hua-ben is currently managing director and Head of Corporate Finance at the Hong Kong Branch of Cathay United Bank and is responsible for its international investment banking business. Mr. Miao was formerly Senior Portfolio Manager with the Dutch pension asset manager APG Asset Management Asia and was responsible for originating, structuring and executing direct and fund investments in Asia-Pacific. Mr. Miao will hold office until the next annual general meeting of the Company and is eligible for re-election at the meeting, and is subject to retirement by rotation and re-election at least once every three years at the annual general meeting of the company.

With effect from 27 June 2016, Dr. Ma Chi Kit has resigned as executive Director and Mr. Luk Chi Shing, Mr. Yau Chi Ming and Mr. Chang Kin Man have resigned as independent non-executive Directors. The resignation of the aforesaid resigned Directors was due to the change in control of the company after the close of the unconditional mandatory general offer on 10 June 2016, and each of the resigned Directors has confirmed that he has no disagreement with the Board and that there are no other matters in relation to his resignation that need to be brought to the attention of the shareholders of the company. Mr. Chen Haining has resigned as the chairman and the chief executive officer of the company with effect from 27 June 2016.

He remains as an executive Director. Mr. Chen's aforesaid resignation was due to the change in control of the Company after the close of the unconditional mandatory general offer on 10 June 2016. Mr. Chen confirmed that he has no disagreement with the Board and there are no other matters in relation to his resignation that need to be brought to the attention of the shareholders of the company.

Dr. Woo Kwok Fai Louis has been appointed as the chairman and the chief executive officer of the Company with effect from 27 June 2016. Dr. Woo Kwok Fai Louis is an executive Director. He is currently the Special Assistant to the Chief Executive Officer of Hon Hai Precision Industry Co.

Ltd. and the Head of its Channel Business Group. He is also the Chairman of NCIH Holdings Limited. The Board announced that, following the above changes of Directors and with effect from 27 June 2016: Mr. Tse Tik Yang Denis, Mr. Yeung Wai Hung Peter, Ms. Wu Yi Shuan and Mr. Miao Benny Hua-ben have been appointed as members of the audit committee of the Company (the Audit Committee).

Ms. Wu Yi Shuan has also been appointed as chairman of the Audit Committee. Mr. Chang Kin Man has resigned as member and chairman of the Audit Committee; and Mr. Luk Chi Shing and Mr. Yau Chi Ming have resigned as members of the Audit Committee; Dr. Woo Kwok Fai Louis, Mr. Tse Tik Yang Denis, Mr. Yeung Wai Hung Peter, Ms. Wu Yi Shuan and Mr. Miao Benny Hua-ben have been appointed as members of the remuneration committee of the Company (the Remuneration Committee). Mr. Yeung Wai Hung Peter has also been appointed as the chairman of the Remuneration Committee.

Mr. Luk Chi Shing has resigned as member and chairman of the Remuneration Committee; and Mr. Chang Kin Man and Mr. Yau Chi Ming have resigned as members of the Remuneration Committee; and Mr. Tse Tik Yang Denis, Mr. Yeung Wai Hung Peter, Ms. Wu Yi Shuan, and Mr. Miao Benny Hua-ben have been appointed as members of the nomination committee of the Company (the Nomination Committee). Mr. Miao Benny Hua-ben has also been appointed as the chairman of the Nomination Committee. Mr. Chen Haining has resigned as member and chairman of the Nomination Committee; and Mr. Luk Chi Shing and Mr. Yau Chi Ming have resigned as members of the Nomination Committee.

Mr. Chen Haining and Mr. Choi Wai Yip have resigned as authorised representatives of the Company under the GEM Listing Rules with effect from 27 June 2016. Dr. Woo Kwok Fai Louis and Mr. Tse Tik Yang Denis have been appointed as authorised representatives of the Company under the GEM Listing Rules with effect from 27 June 2016. Mr. Chen Haining has resigned as the authorised representative of the Company to accept service of process in Hong Kong pursuant to the Companies Ordinance with effect from 27 June 2016.

Dr. Woo Kwok Fai Louis has been appointed as the authorised representative of the Company to accept service of process in Hong Kong pursuant to the Companies Ordinance with effect from 27 June 2016. Mr. Chen Haining has resigned as the compliance officer of the Company, and Dr. Woo Kwok Fai Louis has been appointed as the compliance officer of the Company, with effect from 27 June 2016. Mr. Choi Wai Yip has resigned as the company secretary of the Company with effect from 27 June 2016.

Mr. Choi's resignation was due to the change in control of the Company after the close of the unconditional mandatory general offer on 10 June 2016. Mr. Choi confirmed that he has no disagreement with the Board and there is no other matter that need to be brought to the attention of the shareholders of the Company in relation to his resignation. Ms. Lo Yuen Yee has been appointed as the company secretary of the Company with effect from 27 June 2016.

Ms. Lo Yuen Yee is the company secretary of China Baofeng (International) Limited.