The Board of each of Allied Group Limited and APL (collectively, the "Boards") announce that Mr. Li will also retire from his positions as the Group Financial Controller of AGL, which he joined in January 1996, and the Financial Controller of APL with effect from 1st July, 2018. The Board of AGL has requested and Mr. Li has agreed to serve as General Consultant of AGL with effect from the same day and in that capacity to continue to contribute to AGL and its subsidiary companies, including APL as well as its associates, on significant matters. Mr. Kelvin Lam Kam Wing ("Mr. Lam"), currently the Assistant Financial Controller of AGL who has worked at AGL for 26 years, will be re-designated as the Acting Group Financial Controller of AGL and the Acting Financial Controller of APL with effect from 1 July, 2018.