Mindax Ltd. received from Mr. Andrew Tsang on March 5, 2012 seeking the removal of Messrs Gregory Bromley and Kenneth Pettit as directors of the company, and the appointment of Mr. John Stacpoole as a director. Mr. Gregory Bromley has agreed to resign as the company's managing director, effective immediately and will continue his association with the company by providing services as a consultant to assist in an orderly transition for the company. In this regard, a working committee will be established by the board to assist with management of the company's affairs until the board appoints a new chief executive. In addition, the directors of the company have agreed to appoint Mr. John Stacpoole as a non-executive director of the company. The rest of the board membership remains unchanged.