CIAM Group Limited Board announced that the Offeror has nominated Mr. Cao Zhong (Mr. Cao) and Mr. Jaime Che (Mr. Che) as Executive Directors of the Company and has nominated Mr. Miao Zhenguo (Mr. Miao) as a Non-executive Director of the Company. Mr. Cao has also been elected by the Board as an additional Executive Vice-chairman of the Company. All these nominations were approved unanimously by the Nomination and Remuneration Committee of the Company and the Board.

The appointment of the new directors and the election of Executive Vice-chairman took effect from 9 March 2015. The Board also announced that each of Mr. Huang Bin (Mr. Huang), Mr. Lu Zhicheng (Mr. Lu) and Mr. Wong Yau Kar David (Mr. Wong) had tendered their resignation as Non-executive Directors of the Company with effect from 9 March 2015. This was in alignment with the expectation of the Offeror that the three Non-executive Directors of the Company would resign after the closing of the Offer.

The Board also announced that Mr. Jaime Che has been appointed as the Authorised Representative (for the purposes of Rule 3.05 of the Listing Rules) of the Company and that Ms. Kyna Y.C. Wong has ceased to act as the Authorised Representative of the Company with effect from 9 March 2015.