China New Economy Fund Limited announced that with effect from the conclusion of the 2015 AGM, Mr. Gu Xu, a current executive Director, be appointed to replace Mr. Lindsay as the Chairman of the Board and the Chief Executive Officer responsible for the provision of leadership to the Board and the company's business development and daily management generally. Mr. Gu, aged 50, was appointed as executive Director of the Company since 25 November 2010. The Board announced that with effect from the conclusion of the 2015 AGM, Mr. Chan Cheong Yee, a current executive Director, be appointed as an authorized representative of the company, to fully replace Mr. Lindsay for all the affairs that Mr. Lindsay was originally responsible for in relation to the listing of the Company on the Stock Exchange.

Mr. Chan, aged 51, was appointed as an executive Director since 1 June 2013. The Board announced that, with effect from the conclusion of the 2015 AGM, Mr. Faris Ibrahim Taha Ayoub, a current independent non-executive Director, is to be appointed to replace Mr. Dally as the chairman of the nomination committee of the company. Mr. Ayoub, aged 35, was appointed as an independent non-executive Director since 1 February 2014.