The board of directors of South China Holdings Company Limited at its Annual General Meeting of the Company held on June 16, 2020 announced that Yip Dicky Peter, J.P. an Independent Non-executive Director of the Company, retired as a director by rotation in accordance with Article 116 of the Articles of Association of the Company at the conclusion of the AGM. Yip did not offer himself for re-election at the AGM, and accordingly, he ceased to be an Independent Non-executive Director of the Company upon the conclusion of the AGM. Upon his retirement, Yip also ceased to be a member of each of the audit committee and remuneration and nomination committee of the Company. Yip has confirmed that he has no disagreement with the Board and there is no matter which needs to be brought to the attention of the Shareholders in respect of his retirement.