Playmates Holdings Limited announced that Mr. Tsim Tak Lung ("Mr. Tsim"), a non-executive director and the deputy chairman of the Company, will retire from the Board upon expiry of his present term of directorship at the AGM for personal reason and he will not offer himself for re-election. Consequently, Mr. Tsim will cease to be a director of the Company at the conclusion of the AGM. Upon his retirement from the Board, Mr. Tsim will also cease to be a member of the Audit Committee and a member of the Compensation Committee of the Company.

Mr. Tsim has confirmed that he has no disagreement with the Board and there is no matter in relation to his retirement that needs to be brought to the attention of the Shareholders.