The board of directors of Sitoy Group Holdings Limited announced that, Mr. Yu Chun Kau will cease to be an executive Director upon his retirement from the Board at the conclusion of the company's forthcoming annual general meeting to be held on November 16, 2012 in order to pursue his career development. Mr. Yu will therefore retire at the AGM and will not seek for re-election as a rotating Director. Mr. Yu will also cease to be the chief financial officer of the Group with effect from December 7, 2012.

The Board also announced that Mr. Chin Wee Hon has been appointed as the group financial controller of the Group with effect from December 7, 2012. Mr. Chin joined the Group in May 2012 and will be primarily responsible for the Group's overall financial management and reporting, internal control and other day-to-day financial administration. Mr. Chin has over 5 years auditing experience and 15 years accounting experience in several listed companies in Hong Kong and Singapore.

The Board further announced that with effect from December 7, 2012, Mr. Yu will cease to be the company secretary of the company and an authorised representative of the company for the purpose of Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Ms. Lee Pui Shan has been appointed as the Company Secretary and Authorised Representative in place of Mr. Yu. Ms. Lee joined the Group in September 2012.