The Board of Directors of Luen Wong Group Holdings Limited and its subsidiaries (the "Group") announced that Mr. Liu Yan Chee James ("Mr. Liu") has tendered his resignation as an Independent Non-Executive Director of the Company, the chairman of the Company's Audit Committee and a member of the Company's Remuneration Committee with effect from 4 December 2017 as he will devote more time to his other business commitment. Upon the resignation of Mr. Liu with effect from 4 December 2017, the number of Independent Non-Executive Directors will fall below the minimum number of three and does not represent one-third of the Board; the number of members of the Audit Committee will fall below the minimum number of three; and the requirements for the Remuneration Committee to comprise a majority of Independent Non-Executive Directors cannot be met. The board announced that Mr. Wong Chi Kan ("Mr. Wong"), who was a member of the Audit Committee of the Company, has been redesignated as the chairman of the Audit Committee of the Company with effect from 4 December 2017.