New City Development Group Limited received the resignation letter from Mr. Fu Yiu Kwong as Executive Director of the company on 27 June 2017 before the AGM held. His resignation was accepted by the company and takes immediate effect. The board of directors announced that Mr. Fu Yiu Kwong ("Mr. Fu") resigned as an authorized representative of the company under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited with effect from 27 June 2017. The Board further announced that with effect from 27 June 2017, Mr. Seto Man Fai, an executive director of the company, has been appointed as an authorized representative of the company under Rule 3.05 of the Listing Rules.