The Board of Directors of MTQ Corporation Limited announced the resignation of Mr. Ian Wayne Spence as Independent Director with effect from August 1, 2012. Mr. Ian Spence will also relinquish from his chairmanship of the Audit Committee. Mr. Ian Spence tendered his resignation as an Independent Director after serving on the Board for 10 years to allow progressive refreshing of the Board pursuant to the 2012 code of corporate governance. With effect from August 1, 2012, Mr. Chew Soo Lin, an Independent Director who is currently a member of the Audit Committee, will be appointed as Chairman of the Audit Committee. Mr. Chew Soo Lin is a chartered accountant qualified in the UK.