The Board of Ernest Borel Holdings Limited announced that with effect from 4 October 2016, Mr. Wong Pong Chun James resigned as an executive Director and the chairman of the Board as he would like to focus on his other business commitments; Mr. Cheung Kam Min Mickey resigned as an independent non-executive Director as he would like to devote more time to his personal and other business commitments; Dr. Yau Bun resigned as an independent non-executive Director as he would like to devote more time to his other business commitments; Mr. Xiong Wei has been appointed as an executive Director. He worked in PICC Property and Casualty Company Limited from 1986 to 2001. He was the chairman and legal representative of Beijing Dongfang Yinfeng Property Development Limited from 2001 to 2006. Since 2004, he was and still is the chairman of Prime Route Investment Limited. Ms. Lou Liuqing has been appointed as a non-executive Director. Ms. Lou has over 30 years of experience in the watches and clocks industry. Ms. Lou was a manager in the China Clocks Factory from 1976 to 1986 and a sales manager of Shanghai Electronic Clocks Factory from 1989 to 1996. Ms. Lou was a deputy factory manager of the Second Shanghai Electronic Clocks Factory from 1996 to 2000. Since 2000, Ms. Lou was and still is a general manager of Shanghai Zhongyao Trading Company Limited. Mr. To Chun Kei has been appointed as an independent non-executive Director. He was an independent non-executive director, chairman of the audit committee and remuneration committee of China Development Bank International Investment Limited, the shares of which are listed on the Stock Exchange. Mr. Choi Tze Kit Sammy has been appointed as an independent non-executive Director. Mr. Choi, aged 53, has over 30 years of experience in finance and auditing. Mr. Choi is an independent non-executive director of PanAsialum Holdings Company Limited, the shares of which are listed on the Stock Exchange. and from January 2007 to November 2015, he was an independent non-executive director of Fufeng Group Limited, the share of which are listed on the Stock Exchange. Mr. Sit Yau Chiu, an executive Director, has been appointed as the chairman of the Board. The Board further announced that, Mr. Lau Fan Yu resigned as the company secretary of the company and will continue to serve as the chief financial officer of the company and Ms. Tsang Suet Ying Emily has been appointed as the company secretary of the company. The Board further announced that, Mr. Wong Pong Chun James ceased to be a member of the Remuneration Committee; Mr. Cheung Kam Min Mickey ceased to be a member of each of the Audit Committee and Remuneration Committee and the chairman of the Nomination Committee; Dr. Yau Bun ceased to be a member of each of the Audit Committee, Remuneration Committee and Nomination Committee; Mr. Sit Yau Chiu has been appointed as a member of the Remuneration Committee and the chairman of the Nomination Committee; Mr. Xiong Wei has been appointed as a member of each of the Remuneration Committee and Nomination Committee; Mr. To Chun Kei has been appointed as a member of each of the Audit Committee, Remuneration Committee and Nomination Committee; and Mr. Choi Tze Kit Sammy has been appointed as a member of each of the Audit Committee, Remuneration Committee and Nomination Committee.