Golden Eagle Retail Group Limited announced that Mr. Su Kai has tendered his resignation as Chief Executive Officer with effect from 3 May 2018 due to other career development. Following the resignation of Mr. Su, the Board further announced that with effect from 3 May 2018, Mr. Wang Hung, Roger who is an executive director of the Company and the chairman of the Board has been re-designated as an executive director, the chief executive officer of the Company and the chairman of the Board. Wang Hung has over 40 years of experience in the development and management of real estate and department store retailing and has served the Group for more than 25 years.

There is currently no service contract between Mr. Wang and the Company. Mr. Wang will not be entitled to additional emolument solely due to the re-designation.