The board of directors of Well Way Group Limited announced that Mr. Tang Chi Ming (Mr. Tang) will resign as an executive Director with effect from March 24, 2014 due to his own decision to devote more time to his personal business, but he will remain as a director of certain subsidiaries of the Company. Following his resignation as the executive Director, he will also cease to be a member of each of the
remuneration committee and nomination committee of the Company. The board also announced the appointment of Mr. Mung Bun Man, Alan (Mr. Mung) as an executive Director, a member of each of the nomination committee and remuneration committee of the Company with effect from March 24, 2014. Mr. Mung is the managing partner of First Beijing Investment Limited and a director of Hong Kong Airlines Limited. He is also the vice chairman of Hong Kong Youth Synergy and a member of each of All-China Youth Federation and The Y. Elites Association Limited. Mr. Mung has extensive working experience in investment and asset management. He is an executive director of Bestway International Holdings Limited and Shougang Concord Technology Holdings Limited. In addition, he was an executive director of Mastermind Capital Limited.