On 1 June 2016, Mr. Kiu Wai Ming (Mr. Kiu) and Mr. Lau Chi Wah, Alex (Mr. Lau) retired as independent non-executive Directors of Man Sang International Ltd., at the conclusion of the AGM on 15 July 2016. Simultaneously with their retirement as independent non-executive Directors, Mr. Kiu also ceased to be the chairman of the remuneration committee and a member of the audit committee and the nomination committee of the company and Mr. Lau also ceased to be the chairman of the nomination committee and a member of the audit committee and the remuneration committee of the company at the conclusion of the AGM on 15 July 2016. Simultaneously with the retirement of Mr. Kiu and Mr. Lau as independent non-executive Directors, the Board announced that after conclusion of the AGM on 15 July 2016: Mr. Lei Seng Fat, an existing independent non-executive Director, has been appointed as the chairman of the remuneration committee of the company with immediate effect; and Mr. Wong Tak Chuen, an existing independent non-executive Director, has been appointed as the chairman of the nomination committee of the company with immediate effect.