The board of directors of South West Eco Development Limited announced that Dr. Lee Tse Ching, Elaine (also known as Dr. Eick Lee Tse Ching, Elaine) (Dr. Elaine Eick) has tendered her resignation to resign from her office as executive director of the company with effect from 1 April 2015; and Mr. Cheng Bun has tendered his resignation to resign from his office as executive director of the Company with effect from 20 March 2015. Mr. Cheng will also cease to be the Compliance Officer of the company upon his resignation becoming effective. The resignation of Dr. Elaine Eick and Mr. Cheng was due to the change in control of the company in December 2014.

Both of them have then stayed on the Board to ensure a smooth transition to the new management before their resignation. Dr. Elaine Eick and Mr. Cheng have each confirmed that he or she has no disagreement with the Board and there are no matters in respect of his or her resignation that need to be brought to the attention of the shareholders of the company. The Board would like to express its gratitude to Dr. Elaine Eick and Mr. Cheng for their valuable contributions to the Group during their tenure of service.

The Board announced that Ms. Wu Xiaomin has been appointed as non-executive director of the company with effect from 20 March 2015. Ms. Wu Xiaomin, aged 60. She graduated from Shandong University in 1982 and majored in Japanese.

She is a translator and senior economist. Ms. Wu currently serves as chairwoman and Party Secretary and other positions of Xiamen C&D Corporation Limited. Ms. Wu has been working in Xiamen C&D Corporation Limited and C&D Real Estate Corporation Limited for many years, she currently serves as chairwoman and Party Secretary of Xiamen C&D Corporation Limited and director of C&D Real Estate Corporation Limited.

Ms. Wu also serves as director of Xiamen C&D Inc. Ms. Wu has been chairwoman of Xiamen Overseas Chinese Electronic Co. Ltd. The Board announced that Mr. Zhuang Yuekai, chairman of the Board, has been appointed as a member of and will serve as the chairman of the nomination committee with effect from 16 March 2015.