The Board of Herald Holdings Limited announced that Mr. Thong Yeung Sum Michael will retire as an executive director and the Managing Director of the company at the conclusion of the annual general meeting of the company to be held on 16 September 2013 (or any adjournment thereof) and will not offer himself for re-election. Upon his retirement, Mr. Thong will also cease to be a member of the Remuneration Committee and an authorized representative of the company. Immediately after Mr. Thong's retirement at the conclusion of the annual general meeting of the company on 16 September 2013 (or any adjournment thereof), Mr. Tang King Hung, an executive director of the company, will be appointed as the Managing Director, a member of the Remuneration Committee and an authorized representative of the company.

Mr. Tang King-Hung, aged 61, had been appointed as an independent non-executive director since 28 September 2004 and has been re-designated as an executive director of the Company since 1 February 2010.