The board of directors of Junefield Department Store Group Limited announced that Mr. Leung Man Kit has retired as an independent non-executive director of the company with effect from the conclusion of the annual general meeting held on May 29, 2013. Upon his retirement, Mr. Leung has also ceased to be the chairman and a member of the remuneration committee, a member of each of the audit committee and nomination committee of the company; and Mr. Chan Kwok Wai has retired as an independent non-executive director with effect from the conclusion of the AGM. Upon his retirement, Mr. Chan has also ceased to be the chairman and a member of the Audit Committee and a member of each of the Remuneration Committee and Nomination Committee.

Following the retirement of Mr. Leung and Mr. Chan, the board further announced that the composition of the Audit Committee, the Remuneration Committee and the Nomination Committee have been changed with effect from May 29, 2013 as follows: Mr. Lam Man Sum, Albert has been appointed as the chairman of the Audit Committee; Mr. Cao Kuangyu and Mr. Cheung Ka Wai have been appointed as members of the Audit Committee. Mr. Cheung has been appointed as the chairman of the Remuneration Committee and Mr. Cao has been appointed as member of the Remuneration Committee. Mr. Cao and Mr. Cheung have been appointed as members of the Nomination Committee.