The board of China Zhongsheng Resources Holdings Limited has on May 2, 2014 received a resignation letter from Mr. Huang Zhaobo, the deputy business head of the group. Mr. Huang had resigned as the deputy business head due to his other personal commitments with effect from May 2, 2014.
On May 2, 2014, as reaching the age of retirement, Mr. Liu Quan Xuan, the chief ore dressing technician of the group and Mr. Gao Zefu, the deputy production head of the group and head of Yangzhuang Iron Mine had tendered their retirement application to the board. The board had accepted the retirement application of Mr. Liu and Mr. Gao with effect from 2 May 2014. Each of Mr. Huang, Mr. Liu and Mr. Gao has confirmed that they had no disagreement with the board and there were no matters relating to their resignation or retirement that need to be brought to the attention of the shareholders of the company.