The board of directors of Winsway Enterprises Holdings Limited announced that Mr. Andreas Werner has tendered his resignation as an executive director and the chief executive officer designate of the company with effect from 28 October 2015. The Board further announced that Mr. Wang Changqing has tendered his resignation as an executive director of the company with effect from 28 October 2015. His resignation is made pursuant to the terms of agreements relating to the disposal of the company's controlling stake in Grande Cache Coal Corporation and Grande Cache Coal LP.

The Board further announced that Ms. Ma Li has tendered her resignation as an executive director of the company with effect from 28 October 2015. Mr. Werner, Mr. Max Wang and Ms. Ma have confirmed that they have no disagreement with the Board and there is no matter relating to their resignations that need to be brought to the attention of the shareholders of the company. The Board further announced that Ms. Cao Xinyi has been appointed as an executive director and the CEO designate of the company; and Mr. Wang Yaxu has been appointed as an executive director of the company.

The company entered into a service contract with Mr. Wang Yaxu for a term of three years with effect from 28 October 2015. Mr. Wang Yaxu will hold office until the next following annual general meeting of the company after his appointment and he will be subject to re-election at that meeting and thereafter in accordance with the amended and restated articles of association of the company. Ms. Cao has been appointed as a member of the Health and Safety and Environmental Committee in place of Ms. Ma, due to Ms. Ma's resignation as an executive director, with effect from 28 October 2015, upon which the Health and Safety and Environmental Committee will consist of Mr. George Jay Hambro (chairman), Mr. Wang Wenfu and Ms. Cao Xinyi.

The Board further announced that Ms. Cao has vacated the office of the chief financial officer of the company with effect from 28 October 2015, in order to focus on matters in discharging her duties as an executive director and the CEO designate of the company. Ms. Cao has confirmed that she has no disagreement with the Board and there is no matter relating to the vacation from the office of the CFO of the company that needs to be brought to the attention of the shareholders of the company. Ms. Cao remains as the executive director, CEO designate and the Company Secretary.

The Board announced that Mr. Li Yongqiang has been appointed as the CFO of the company with effect from 28 October 2015. Mr. Li is currently the general manager of finance department of the company.