Parkson Retail Group Limited announce that Mr. Ko Desmond has resigned as an independent non-executive director and member of Audit Committee and Remuneration Committee of the Company with effect from 30 November 2020 due to other work commitments. After the resignation of Mr. Ko, the Company's number of independent non-executive directors as well as the composition of the Company's audit committee fail to meet the requirements under Rule 3.10, Rule 3.10A and Rule 3.21 of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") and terms of reference of the audit committee of the Company. At the same time, the composition of the Company's remuneration committee fails to meet the membership requirements under the terms of reference of the remuneration committee.