Cheong Ming Investments Limited announced that as a result of the change in control of the company, the board announced that with effect from the close of the offer at 4:00 p.m. on July 18, 2014, Mr. Brian Lui has resigned as executive Director, chairman of the Board and member of the remuneration committee of the Company; Mr. SC Lui has resigned as executive Director and managing director of the Company; Mr. Victor Lui has resigned as executive Director; Dr. Lam Chun Kong has resigned as independent non-executive Director and member of each of the audit committee and the remuneration committee of the company; Mr. Lo Wing Man has resigned as independent non-executive Director, chairman of the remuneration committee and member of the audit committee of the company; and Dr. Ng Lai Man, Carmen has resigned as independent non-executive Director, chairman of the audit committee and member of the remuneration committee of the company. Each of Mr. Brian Lui, Mr. SC Lui, Mr. Victor Lui, Dr. Lam Chun Kong, Mr. Lo Wing Man and Dr. Ng Lai Man, Carmen has confirmed to the board that he/she has no disagreements with the board and that there are no other matters in relation to his/her resignation that need to be brought to the attention of the shareholders or the stock exchange. With effect from the close of the offer at 4:00 p.m. on July 18, 2014, Mr. Lin has been appointed as the chairman of the Board, and Madam Su has been appointed as the chief executive officer of the company.

With effect from the close of the offer at 4:00 p.m. on July 18, 2014, the following directors have been appointed to the respective roles in the audit committee and remuneration committee of the company: audit committee: Mr. Yu Leung Fai (chairman), Mr. Fang Jixin (member), Dr. Li Jue (member). Remuneration committee: Dr. Li Jue (chairman), Mr. Lin (member), Mr. Yu Leung Fai (member). With effect from the close of the offer at 4:00 p.m. on 18 July 2014, the company has established the nomination committee of the company in accordance with Code A.5 of the Corporate Governance Code as set out in Appendix 14 of the Listing Rules.

The nomination committee comprises three members upon its establishment, namely Mr. Lin, Mr. Yu Leung Fai and Mr. Fang Jixin. Mr. Lin has been appointed as the chairman of the nomination committee. With effect from the close of the offer at 4:00 p.m. on 18 July 2014, Mr. Brian Lui and Mr. SC Lui have resigned as the authorized representatives of the company under Rule 3.05 of the Listing Rules; Mr. Victor Lui and Mr. Tsang Chin Pang have resigned as the alternate authorized representatives of the Company under Rule 3.05 of the Listing Rules; and Mr. Brian Lui and Mr. SC Lui have resigned as the authorized representatives for accepting service of process and notices in Hong Kong on behalf of the Company under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong).

With effect from the close of the offer at 4:00 p.m. on 18 July 2014, Mr. Lin and Mr. Tsang Chin Pang (the company secretary of the Company) have been appointed as the authorized representatives of the Company pursuant to Rule 3.05 of the Listing Rules; and Mr. Tsang Chin Pang has been appointed as the authorized representative of the company for accepting service of process and notices in Hong Kong on behalf of the company pursuant to Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong).