361 Degrees International Limited announced that Mr. Yan Man Sing Frankie has tendered his resignation as an independent non-executive Director to spend more time on his other business endeavours with effect from 1 July 2016. Mr. Yan will also cease to be a member of each of the audit committee remuneration committee and nomination committee of the Board and the chairman of the Audit Committee, with effect from the same date. the Board appointed Mr. Li, the Nomination Committee has considered the education, experience and achievements of Mr. Li, in particular in the disciplines of strategy, innovation and entrepreneurship. The Nomination Committee believes that with Mr. Li's background, the appointment of Mr. Li as an independent non-executive Director will complement the development of the Company and enhance the corporate governance practices of the Company. Mr. Li Yuen Fai Roger is the sole practitioner for Roger Li & Co, a certified public accountant firm in Hong Kong from 2003 to now and from 1994 to 2003, Mr. Li was the Senior Vice President and Executive Director of Sunbase International (Holdings) Limited and was responsible for finance management, business development and making investments in China. The Board appointed as the chairman of the Audit Committee and a member of the Remuneration Committee; Mr. Tsui will cease to be the chairman, but will continue to act as a member, of the Nomination Committee; and Mr. Li Yuen Fai Roger will be appointed as a member of each of the Audit Committee and Nomination Committee and the chairman of the Nomination Committee. The Board would like to express its appreciation to Mr. Yan for his contribution made to the Company throughout his tenure of service and take this opportunity to extend a warm welcome to Mr. Li in joining the Company.