Universe International Financial Holdings Limited announced that at the AGM, Mr. Chan Shiu Kwong Stephen retired and did not offer himself for re-election at the AGM and therefore his retirement of a non-executive Director took effect upon the conclusion of the AGM. At the AGM, Mr. Lam Wing Tai retired and did not offer himself for re-election at the AGM and therefore his retirement of an independent non-executive Director took effect upon the conclusion of the AGM. The Board announced that Ms. Cheng Lo Yee has been appointed as an independent non-executive Director immediately after the conclusion of the AGM on 30 November 2016. Ms. Cheng is currently an independent non-executive director of China Demeter Investments Limited. Following the retirement of Mr. Lam as an independent non-executive Director, he ceased to be the chairman of the Audit Committee and the member of each of the Remuneration Committee and the Nomination Committee. With effect from the conclusion of the AGM on 30 November 2016, Mr. Choi Wing Koon has been appointed as the chairman of the Audit Committee in replacement of Mr. Lam. With effect from the conclusion of the AGM on 30 November 2016, Ms. Cheng will be appointed as the member of each of the Audit Committee, the Remuneration Committee and the Nomination Committee.