The board of directors of Modern Media Holdings Limited announced that Dr. Cheng Chi Kong tendered his resignation from the positions of the vice-chairman of the Board and a non-executive Director with effect from 26 August 2017 as to focus on and allocate more time and effort to his other business. Following his resignation from the positions of the vice-chairman of the Board and a non-executive Director, Dr. Cheng ceased to be a member of the Board. Notwithstanding the above resignation, Dr. Cheng is willing to accept the appointment to be an honorary vice-chairman of and chief strategic advisor to the Group with effect from 26 August 2017. Dr. Cheng will give input as a consultant and adviser to the Group relating to the Group's future business development and corporate strategy.