The board of directors of Lingbao Gold Company Limited announced that the resignation of Mr. Jin Guangcai, Mr. Qiang Shanfeng and Mr. Ji Wanxin as executive directors of the company with effect from 23 January 2017 due to their work re-designation. Mr. Jin also resigned as the chairman and chairman of strategic committee of the Company, Mr. Qiang also resigned as chief executive officer and members of strategic committee of the Company and Mr. Ji also resigned as members of
remuneration committee of the Company, all with effect from 23 January 2017. Each of Mr. Jin, Mr. Qiang and Mr. Ji has confirmed that there are no disagreement with the Board and that there are no other matter in relation to their resignation that needs to be brought to the attention of the Shareholders. The Board announced that with effect from 23 January 2017, Mr. Chen Jianzheng and Mr. Zhao Kun has been appointed as executive directors of the company. Mr. Chen also appointed as chairman and chairman of strategic committee of the Company and Mr. Zhao also appointed as members of strategic committee of the Company, all with effect from 23 January 2017. The Board is also announced that Mr. Wang Leo appointed as deputy chairman and chief operating officer of the company and Mr. Wang Junqiang appointed as chief executive officer of the Company, all with effect from 23 January 2017. Mr. Chen has served as deputy secretary of the party leadership and deputy chief of Zhenzhuang Town, Yuanling County, Hunan Province, in charge of listed company related work to Chenzhou Mining Company, during which he was responsible for the maintenance of the town and mine relationship and is very familiar with the management and operation of mining companies. Mr. Zhao is also the executive director of China Gold Association and the vice chairman of the National Precious Metals Industry Committee. Mr. Zhao will hold office until the forthcoming annual general meeting of the Company at which he will be eligible for re-election. Thereafter, he will be subject to rotational retirement and re- election requirements pursuant to the articles of association of the Company. Mr. Wang Leo, is appointed as an executive director on 23 December 2016 and appointed as deputy chairman and chief operating officer of the Company on 23 January 2017. He is primary engage in the daily operation and management of the Company. Mr. Wang Leo worked in the finance department of Sinosteel Corporation Tianjin Company as finance manager, he served as chief financial officer in Imerys Corporation. He also served as chief financial officer and secretary to the board in Hunan Li Shun Energy Technology Company Limited. Prior joining to the Company, he was a consultant for the Hunan Mining Association. Mr. Wang Leo will hold office until the forthcoming annual general meeting of the Company at which he will be eligible for re-election. Thereafter, he will be subject to rotational retirement and re-election requirements pursuant to the articles of association of the Company. Mr. Wang served as chief of mining and technology department in Qiangma gold mine of Lingbao city from September 1994 to July 2002. From July 2002 to March 2011, he worked in the Company as the technical development manager, chief operating officer and assistant to general manager. From March 2011 to March 2013, he served as deputy general manager of the Company. From July 2013 to July 2014, Mr. Wang served as an independent non executive director of Newtree Group Holdings Limited, a company listed in Hong Kong. From March 2013 to January 2017, he served as deputy general manager and chief engineer of the Company. Mr. Wang will hold office until the forthcoming annual general meeting of the company.