The Board of Man Sang International Ltd. announced that Mr. Cheng Sai, who has been responsible for managing one of the subsidiaries in the Target Company Group, has tendered his resignation as an executive Director on 31 March 2016 with immediate effect. Mr. Cheng Sai confirms that he has no disagreement with the Board and that he is not aware of any matter in relation to his resignation that needs to be brought to the attention of the Shareholders. The Board further announced that due to retirement, Mr. Cheng Tai Po has tendered his resignation as the non-executive Director, the chairman of the company as well as a member of the company's Remuneration Committee and Nomination Committee on 31 March 2016 with immediate effect.

Mr. Cheng Tai Po confirms that he has no disagreement with the Board and that he is not aware of any matter in relation to his resignation that needs to be brought to the attention of the Shareholders. The Board announced that with effect from 31 March 2016, Mr. Lei Hong Wai, an existing executive Director, has been appointed as chairman of the Board as well as a member of the company's Remuneration Committee and Nomination Committee. Mr. Lei, aged 47, has over 14 years of extensive experience in corporate management, investment and business development.

He was a director of The Chamber of Hong Kong Listed Companies Limited. Mr. Lei is currently the chairman and an executive director of Eternity Investment Limited. He ceased to be the chairman and an executive director of Huanxi Media Group Limited on 2 September 2015.