The Board of UKF (Holdings) Limited announced that Mr. Philippe has retired as an independent non-executive Director at the conclusion of the AGM as he informed the company immediately before the AGM that he decided not to seek for re-election for reason that he would like to devote more time on his other business commitments. Following his retirement, Mr. Philippe also ceased to be the chairman of Remuneration Committee of the company and a member of Audit Committee of the company and Nomination Committee of the company. The Board also announced that Mr. Hung Wai Che has been appointed as an independent non-executive Director, chairman of Remuneration Committee and member of Audit Committee and Nomination Committee with effect from 26 August 2016 to fill the vacancy arising from Mr. Philippe.