The board of directors of Chinese Food and Beverage Group Limited announced that Mr. Hu Dongguang will be re-designated from an independent non-executive director to an executive director of the company with effect from December 1, 2013 to be responsible for the business development of the company in the People's Republic of China. Mr. Hu joined the group on April 17, 2013 as an independent non-executive director and he is a member of the audit committee, the nomination committee and the remuneration committee of the company. The board also announced that Mr. Mok Tsan San and Mr. Yeung Wai Hung, Peter will be appointed as independent non-executive directors of the company with effect from December 1, 2013.

Mr. Mok Tsan San is the managing director of Capital Union Investments Limited, where he has over 10 years of solid operation experiences in the areas of online education and payment solutions. Mr. Yeung Wai Hung, Peter was an independent non-executive director of Media Asia Group Holdings Limited (formerly known as ROJAM Entertainment Holdings Limited) for the period from November 2009 to August 2011. Following the re-designation of Mr. Hu from an independent non-executive director to an executive director of the company with effect from December 1, 2013, Mr. Hu will cease to be a member of the Audit Committee, the Nomination Committee and the Remuneration Committee.

The board announced that Mr. Matthew Pau, an independent non-executive director of the company, will resign as the chairman of the Nomination Committee and the Remuneration Committee but remained as the chairman of the Audit Committee; Mr. Yeung has been appointed as the chairman of the Nomination Committee and the Remuneration Committee; and Mr. Mok has been appointed as a member of the Audit Committee, the Nomination Committee and the Remuneration Committee, all the above will take effect from December 1, 2013.