The board of directors of Convenience Retail Asia Limited announced the Dr. Raymond CH'IEN Kuo Fung, Independent Non-executive Director of the company, will resign from the Board with effect from April 1, 2014 due to his other commitments. Dr. Ch'ien has confirmed that he has no disagreement with the Board. With effect from April 1, 2014, Dr. Sarah Mary LIAO Sau Tung will be appointed as Independent Non-executive Director of the company.

Dr. Liao's extensive experience in socially and environmentally sustainable development will no doubt provide the Board and management with valuable and independent guidance on the Group's strategy. Dr. Liao is currently the Acting Director of the Kadoorie Institute of the University of Hong Kong and was Senior Advisor to the Vice-Chancellor on Sustainability in 2008 - 2014. She has been a member of the Chinese Council for International Cooperation on Environment and Development since 2009 and is on the Board of Trustees of the Environmental Defense Fund.

The company also announced the composition of the Audit Committee of the company will be changed as follows with effect from April 1, 2014: (a) Dr. Raymond CH'IEN Kuo Fung will cease as Chairman and member of the Audit Committee; (b) Mr. Anthony LO Kai Yiu, current member of the Audit Committee, will be appointed as Chairman of the Audit Committee; and (c) Mr. ZHANG Hongyi will be appointed as member of the Audit Committee. The company also announced the composition of the Remuneration Committee of the company will be changed as follows with effect from April 1, 2014: (a) Dr. Raymond CH'IEN Kuo Fung will cease as member of the Remuneration Committee; and (b) Dr. Sarah Mary LIAO Sau Tung will be appointed as member of the Remuneration Committee.