The board of directors of Ko Yo Chemical (Group) Limited announced that with effect from 1 May 2016, Mr. Li Shengdi, age 63, has resigned as an executive director and nomination committee member of the company due to his retirement. The Board also announced that with effect from 1 May 2016, Mr. Qian Laizhong, age 73, has resigned as an independent non-executive director, audit committee member, remuneration committee member and nomination committee member of the company due to health concerns. The board has resolved to appoint Mr. Yuan Bai as vice chairman of the company and Mr. Sun Tongchuan as a member of the remuneration committee and chairman of nomination committee of the company with effect from 1 May 2016. Mr. Yuan Bai and Mr. Sun Tongchuan are an existing executive director and an existing independent non-executive director of the company respectively.