The Board of Global Strategic Group Limited announced that Mr. Sun Zhi Jun ("Mr. Sun") retired by rotation as an independent non-executive Director in accordance with the Cayman Islands law and the resolution in respect of his re-election was not passed by the Shareholders as ordinary resolution at the conclusion of the AGM. Due to his retirement, he also ceased to be a member of the audit committee, human resources and remuneration committee and nomination committee of the Board. The Board would like to express its appreciation to Mr. Sun for his past contribution to the Company during his tenure of service. Both Mr. Sun and the Board are not aware of any matter relating to the retirement of Mr. Sun that needs to be
brought to the attention of the Shareholders and the Stock Exchange. Following the retirement of Mr. Sun, the numbers of independent non-executive director on the Board and the members of the audit committee of the Board are less than three as required under Rules 5.05(1) and 5.28 of the GEM Listing Rules and the remuneration committee and nomination committee of the Board were not comprised a majority of independent non-executive directors.