Culturecom Holdings Ltd. announced that Mr. Chung had tendered his resignation as an Executive Director with effect from 31 July 2015. However, pursuant to Rule 7 of the takeovers code, the Directors should not resign until the shareholders of the company have voted on the Whitewash Waiver (if the Proposed Subscription materialises). The company has requested Mr. Chung, and Mr. Chung has agreed, to withdraw his resignation.

Accordingly, Mr. Chung continues to be an executive Director.