The board of directors of announced that following the appointment of Mr. WONG Ho Lung, Danny as Chief Executive Officer of China Gold Silver Group Company Limited, an associated company of the company which conducts the jewellery retail and franchise business under the brandname of "3D-GOLD" in Hong Kong, Macau and other regions in the People's Republic of China, with effect from 6 June 2014, Mr. Danny WONG was re-designated from Executive Director to Non-executive Director of the company with effect from the same date but Mr. Danny WONG remains as Deputy Chairman of the board. Pursuant to the service agreement entered into by the Company with Mr. Danny WONG, Mr. Danny WONG will be appointed for a term of two years commencing from 6 June 2014.