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(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 886) RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board (the "Board") of directors (the "Directors" and each a "Director") of Silver Base Group Holdings Limited (the "Company") announces that Mr. Zhang Min ("Mr. Zhang") will resign as an independent non-executive Director with effect from
1 April 2014 due to his desire to focus on his other personal career. Accordingly, Mr. Zhang will also cease to be a member of each of the audit committee, the compliance committee, the nomination committee and the remuneration committee of the Company.
Mr. Zhang has confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company or The Stock Exchange of Hong Kong Limited.
The Board would like to express its sincere gratitude to Mr. Zhang for his valuable contribution to the Company during his tenure of directorship.
Following the resignation of Mr. Zhang, the number of independent non-executive Directors falls below the minimum number as required under Rule 3.10(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the number of independent non-executive Directors on the Board represents less than one-third of the members of the Board as required under Rule 3.10A of the Listing Rules. In addition, the number of members of the audit committee and the remuneration committee of the Company fall short of the requirements under Rule 3.21 and Rule 3.25 of the Listing Rules, and fall below the minimum number required under the terms of reference of the audit committee and the remuneration committee of the Company.

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The Company is endeavouring to identify suitable candidate(s) to fill the required number of independent non-executive Directors as soon as practicable, with the relevant appointments to be made within three months from the effective date of Mr. Zhang's resignation as required under Rule 3.11, Rule 3.23 and Rule 3.27 of the Listing Rules. Further announcement(s) will be made by the Company in relation to such appointments as and when appropriate.
By Order of the Board

Silver Base Group Holdings Limited Liang Guoxing

Chairman

Hong Kong, 31 March 2014

As at the date of this announcement, the Board comprises Mr. Liang Guoxing (Chairman), Mr. Wang Jindong and Ms. Cheung Mei Sze as executive Directors; Mr. Wu Jie Si, Mr. Chen Sing Hung Johnny and Mr. Joseph Marian Laurence Ozorio as non-executive Directors; and Mr. Hung Sui Kwan, Mr. Ma Lishan and Mr. Zhang Min as independent non-executive Directors.

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