Kollakorn Corporation Limited advised that Mr. Richard Sealy has tendered his resignation as a director and CEO of the Company effective from 31 March 2016. Richard expressed his desire to step down from his management role in the Company was due to deteriorating health. He resigned as Managing Director of the Company on 31 March 2015, and agreed to enter into a one-year consulting contract in order for the Company to arrange a seamless transition to a new CEO, up until 31 March 2016.