The board of directors of Guangnan (Holdings) Limited announced that Mr. Sung Hem Kuen has tendered his resignation as an Executive Director and Chief Financial Officer of the company with effect from 25 March 2016 due to the pursuance of his other career aspirations. Sung Hem Kuen confirmed that he has no disagreement with the board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the company.