Paladin Limited announced that on July 2, 2014, Mr. Zhu Pei Qing, an independent non-executive director of the company, was appointed as an additional member of the Independent Committee. Each of Mr. Oung Shih Hua, James and Mr. Kwok Wai Chi disputes the composition of the current Board of the Company and refuses to accept responsibility for documents issued by the company in relation to the Offers, including this announcement. On this basis, applications have been made to, and consent has been obtained from, the Securities and Futures Commission pursuant to Rule 9.4 of the Takeovers Code to exclude Mr. Oung Shih Hua, James and Mr. Kwok Wai Chi from taking joint and several responsibility for any document, including this announcement, issued by the company in relation to the offers.

On July 11, 2014, Mr. Kwok Wai Chi was removed as a member of the Independent Committee.