The Board of Fraser Holdings Limited announced that, following Mr. Yu's resignation as the chairman on 26 July 2017, Mr. Zhou has been appointed as the chairman with effect on the same day. The Board announced that, following Mr. Yu's resignation as the chief executive officer on 26 July 2017, Mr. Zhou has been appointed as the chief executive officer with effect on the same day. The Board announced that, following the resignation of the Directors, the composition of the committees of the Board is changed as follows: Mr. Law ceased to be the chairman of the audit committee while Mr. Wong and Mr. Wong Law Fai ceased to be members of the audit committee with effect from 26 July 2017.

The audit committee comprises of Mr. Raymond Wong (as chairman), Mr. Zheng and Mr. Tang. Mr. Wong ceased to be the chairman of the nomination committee while Mr. Wong Law Fai and Mr. Law ceased to be members of the nomination committee with effect from 26 July 2017. The nomination committee comprises of Mr. Zhou (as chairman), Mr. Raymond Wong and Mr. Zheng.

Mr. Wong Law Fai ceased to be the chairman of the remuneration committee while Mr. Yu and Mr. Wong ceased to be members of the remuneration committee with effect from 26 July 2017. The remuneration committee comprises of Mr. Tang (as chairman), Mr. Raymond Wong and Mr. Zheng. Mr. Law ceased to be the chairman of the legal compliance committee while Ms. Wong, Mr. Wong and Mr. Wong Law Fai ceased to be members of the legal compliance committee with effect from 26 July 2017.

The legal compliance committee comprises of Mr. Tang (as chairman), Mr. Raymond Wong and Mr. Zheng. Following the resignation of Mr. Yu and Ms. Wong, they have also ceased to be the authorised representatives under Rule 5.24 of the GEM Listing Rules. The Board announced that with effect from 26 July 2017, Mr. Zhou and the company secretary, Ms. Hui Wai Man Shirley has been appointed as the authorised representative.