The board of directors of Golden Eagle Retail Group Limited announced that with effect from 23 May 2019, Mr. Lo Ching Yan (“Mr. Lo”) has been elected as an independent non-executive Director of the company at the annual general meeting of the company held on 23 May 2019 (the “AGM”) and Mr. Wang Sung Yun, Eddie (“Mr. Wang”) has retired as an independent non-executive Director at the conclusion of the AGM. Due to other job commitments, at the conclusion of the AGM, Mr. Wang retired as an independent non-executive Director and did not offer himself for re-election. He also ceased to be a member of the Audit Committee of the company. Mr. Lo has been elected as an independent non-executive Director at the AGM and also appointed as a member of the Audit Committee of the company. Mr. Lo has been a banker for more than 40 years. He worked as a vice president at Citibank in New York from 1970 to 1976, and was seconded to Citibank in Taiwan from 1976 to 1986. From 1997 to 2002, he also acted as the advisor of First Sino Bank in Shanghai to assist its growth during its start-up period. He established SinoPac Holdings Company Limited in 2002, which engages in commercial banking, securities and insurance. In 2010, he became the chairman of Cosmos Bank in Taiwan and was responsible to improve that bank’s performance.