The Board of Great China Holdings Ltd. announced that, with effect immediately after the close of the Share Offer on 13 July 2016: Mr. ZHOU Zheren, an executive Director, has been appointed as chairman of the Board; and Ms. GU Ming, an executive Director, has been appointed as chief executive officer of the company. The board also announced that, with effect immediately after the close of the share offer on 13 July 2016: Mr. John Ming Tak HO has resigned as an executive Director, Managing Director and ceased to be a member of each of remuneration committee of the company and nomination committee of the company; Mr. Patrick Kwok Wai POON has resigned as an executive Director; Mr. Maung Tun MYINT has resigned as an executive Director; Ms. Yu Gia HO has resigned as a non-executive Director; Mr. Lawrence Kam Kee YU has resigned as an independent non-executive Director, chairman of each of the Remuneration Committee and Nomination Committee and a member of the audit committee of the company; Mr. David Hon To YU has resigned as an independent non-executive Director, chairman of the Audit Committee, and a member of each of the remuneration committee and nomination committee; Mr. Hsu Chou WU has resigned as an independent non-executive Director and a member of each of the Audit Committee and Nomination Committee; Mr. ZHOU Zheren has been appointed as the chairman of the Nomination Committee; Mr. Lai Han has been appointed as a member of the Remuneration Committee; Mr. HU Jian Xing has been appointed as the chairman of the Remuneration Committee and a member of each of the Audit Committee and Nomination Committee; Ms. LI Pin has been appointed as the chairman of the Audit Committee and a member of each of the Remuneration Committee and the Nomination Committee; Mrs. Patricia Bee Kuen THOMAS has been appointed as a member of the Audit Committee. The resignation of the above resigning Directors was due to the change in control of the company upon the Sale and Purchase Completion.