S. Culture International Holdings Limited (company') and Shang Ying Financial Holding Co., Limited (offeror) dated 17 June 2017 (Composite Document), the announcements jointly issued by the Company and the Offeror dated 19 January 2017, 24 March 2017, 7 April 2017, 28 April 2017, 15 June 2017 and 17 June 2017 and the announcement of the Company dated 17 June 2017. The board of directors of the company announced that with effect from 10 July 2017 after close of the Offer: Mr. Chu Siu Ming has resigned as an executive Director, the Vice-Chairman and a member of the nomination committee of the Company (the ``Nomination Committee''); Mr. Chu Chun Wah, Haeta has resigned as an executive Director and a Co-Chief Executive Officer; Mr. Chong Hot Hoi has resigned as a non-executive Director, the Chairman and a member of each of the remuneration committee of the Company (the ``Remuneration Committee'') and the Nomination Committee; Mr. Chong Hok Hei, Charles has resigned as a non-executive Director; Mr. Yu Fuk Lun has resigned as a non-executive Director and a member of the Remuneration Committee; Mr. Wan Kam To has resigned as an independent non-executive Director, the chairman of the audit committee of the Company and a member of each of the Remuneration Committee and the Nomination Committee; Mr. Yau Tat Wang, Dennis has resigned as an independent non-executive Director, the chairman of the Remuneration Committee and a member of each of the Audit Committee and the Nomination Committee; Mr. Lam Man Tin has resigned as an independent non-executive Director, the chairman of the Nomination Committee and a member of each of the Audit Committee and the Remuneration Committee; Mr. Chu Chun Ho, Dominic has resigned as a Co-Chief Executive Officer and has been re-designated from an executive Director to a non-executive Director; and Mr. Yang Jun, an executive Director, has been appointed as the Chairman of the Company. Mr. Chu is a non-executive Director. Mr. Chu has joined the Group for 19 years and he is mainly responsible for the strategic planning and execution of business strategies of the Group. Mr. Chu is currently a director of each of Kong Tai Sundry Goods Company Limited, Grand Asian Limited, Cobblers Limited, Shoe Mart Company Limited, Advertiser's Media Agency Limited, Cobblers (Hong Kong) Trading Company Limited and Shoes Culture (Hong Kong) Trading Company Limited and an administrator of Shoes Culture Company Limited (all are the subsidiaries of the Company). The board announced that Mr. Chow Wing Hang, John has resigned as the company secretary of the Company with effect from 10 July 2017. Mr. Chow has confirmed that there is no disagreement with the Board and there are no matters in respect of his resignation as Company Secretary that need to be brought to the attention of the Stock Exchange and the Shareholders. The Board also announced that Ms. So Yee Kwan has been appointed as the Company Secretary with effect from 10 July 2017. Ms. So is a manager of Corporate Services of Tricor Services Limited, a global professional services provider specializing in integrated Business, Corporate and Investor Services. She has extensive experience in a diversified range of corporate services and has been providing professional secretarial services to many companies listed on the Stock Exchange for the past 12 years. The Board announced that Mr. Chu and Mr. Chow have ceased to act as authorized representatives under Rule 3.05 of The Rules Governing the Listing of Securities on the Stock Exchange with effect from 10 July 2017. The Board further announced that Mr. Lin Zheming, an executive Director and Ms. So have been appointed as the Authorized Representatives with effect from 10 July 2017. The Board announced that, with effect from 10 July 2017, Mr. Chu ceased to act as the agent of the Company to accept service of process and notices for and on behalf of the Company in Hong Kong as required under Rule 19.05(2) of the Listing Rules and the Companies Ordinance, and Ms. So was appointed to replace Mr. Chu to act as the Process Agent. The Board announced that with effect from 10 July 2017, the compositions of the Board committees have been changed as follows: Audit Committee: Mr. Xie Rongxing, Mr. Chen Huigang and Mr. Lum Pak Sum, being all the independent non-executive Directors, have been appointed as members of the Audit Committee and Mr. Lum Pak Sum has been appointed as the chairman of the Audit Committee. Remuneration Committee: Mr. Chen Huigang, an independent non-executive Director, has been appointed as the chairman of the Remuneration Committee and Mr. Xie Rongxing, an independent non- executive Director, and Mr. Yang Jun, an executive Director, have been appointed as members of the Remuneration Committee. Nomination Committee: Mr. Yang Jun, an executive Director, has been appointed as the chairman of the Nomination Committee and Mr. Xie Rongxing, an independent non-executive Director, and Mr. Chen Huigang, an independent non-executive Director, have been appointed as members of the Nomination Committee.