World Precision Machinery Limited announced that Mr. Shao Jianjun, the Chief Executive Officer of the company, has been appointed as the Executive Chairman in place of Mr. Wang Weiyao who relinquished his position as the Non-Executive Chairman. Mr. Wang Weiyao will remain as a Non-Executive Director of the company. Mr. Wu Yufang, an Executive Director of the company, has been appointed as the CEO of the company in place of Mr. Shao Jianjun who was appointed as the Executive Chairman.

Mr. Phang Kin Seng (Lawrence), an Independent Director and the Chairman of the Audit Committee, has been appointed as the Lead Independent Director pursuant to the recommendation set out in guideline 3.3 of the revised Code of Corporate Governance issued on 2 May 2012.