The board of directors of Newtree Group Holdings Limited announced that Mr. Tam Chak Chi has resigned as independent non-executive director of the company, a member of the audit committee and nomination committee of the company and the chairman of the remuneration committee of the company with effect from 30 November 2015 as he requires more time to pursue his other business engagements. Mr. Tam has confirmed that he has no claims whatsoever against the Company for fees, severance payments, expenses, damages, remuneration or compensation for loss of office or otherwise and no disagreement with the Board and there is no matter that needs to be brought to the attention of the Stock Exchange and the shareholders of the company in relation to his resignation. The Board announced that Mr. Kwok Kam Tim, an independent non-executive director of the company, has been appointed as the chairman of the remuneration committee of the company with effect from 30 November 2015.