At the Board meeting of Sino-Tech International Holdings Limited held on November 8, 2012, the Board resolved that the office of Mr. Li Weimin as a Director is vacated. As a result, Mr. Li's offices as an executive Director and the Chairman of the company were vacated with effect from November 8, 2012. At the same Board meeting, the Board also resolved that the company would cause each of the relevant subsidiaries of the company to remove Mr. Li as a director and/or the legal representative according to the articles of association of each relevant subsidiary and applicable laws.

The Board further resolved at the same Board meeting to terminate Mr. Li's appointment as an authorised representative of the company and the agent of the company for accepting service of process in Hong Kong with effect from November 8, 2012, and that at the same time, Mr. Lim Chuan Yang, an executive Director, was appointed as an authorised representative of the company and the agent of the Company for accepting service of process in Hong Kong in place of Mr. Li.