The board of directors of Tysan Holdings Limited announced that the following changes in the composition of the Board and its committees will take effect from 1 January 2020. Mr. Sun Kin Ho Steven ("Mr. Sun") has tendered his resignation as an executive Director with effect from 1 January 2020 in order to devote more time to his other business commitments. The service agreement and the supplemental agreements entered into between the Company and Mr. Sun in relation to his appointment as an executive Director will be terminated with effect from 1 January 2020. After his resignation as an executive Director, Mr. Sun will be appointed as a consultant of the company. Mr. Fan Chor Ho ("Mr. Fan") will step down as the Chairman of the audit committee of the Board ("Audit Committee") and will remain as a member of each of the Audit Committee, nomination committee of the Board ("Nomination Committee") and remuneration committee of the Board ("Remuneration Committee") with effect from 1 January 2020. Mr. Li Kit Chee ("Mr. Li") will be appointed as the Chairman of the Audit Committee with effect from 1 January 2020 and will remain as a member of each of the Nomination Committee and Remuneration Committee. Mr. Li was appointed as an independent non-executive Director in March 2013. Mr. Tse Man Bun will step down as the Chairman of the Remuneration Committee and will remain as a member of each of the Remuneration Committee, Audit Committee and Nomination Committee with effect from 1 January 2020. Mr. Lung Chee Ming, George ("Mr. Lung") will be appointed as the Chairman of the Remuneration Committee with effect from 1 January 2020 and will remain as a member of each of the Audit Committee and Nomination Committee. Mr. Lung was appointed as an independent non-executive Director in August 2007.