The board of directors of Oi Wah Pawnshop Credit Holdings Limited announced that Mr. Chan Wing Lee resigned as an independent non-executive director, a member of each of the Audit Committee and the Nomination Committee, and the chairman of the Remuneration Committee of the Company with effect from 31 March 2017 due to health issues. Mr. Chan has confirmed that he has no disagreement with the Board and there is no matter relating to his resignation which needs to be brought to the attention of the shareholders of the Company. Following the resignation of Mr. Chan, the Board announced that Mr. Lam On Tai has been appointed as an independent non-executive director, a member of each of the Audit Committee and the Nomination Committee, and the chairman of the Remuneration Committee of the company with effect from 1 April 2017. Mr. Lam, more than 20 years of experience in banking and securities industry, in which over 16 years of experience was accumulated in advising on corporate finance relating to various listing and restructuring transactions. Mr. Lam currently serves as the managing director of LY Capital Limited.