The board of directors of Tonly Electronics Holdings Limited announced that: Mr. LEONG Yue Wing would be re-designated as an independent non-executive director of the company with effect from 15 January 2016; and Mr. YOUNG Shiao Ming resigned as an independent non-executive director of the company with effect from 15 January 2016. Mr. LEONG, currently a non-executive director of the company, was re-designated as an independent non-executive director and appointed as the chairman of the
remuneration committee, member of the audit committee and nomination committee of the Company with effect from 15 January 2016. Mr. LEONG had previously been the CEO of TCL Multimedia Technology Holdings Limited rom 1 October 2007 to 30 September 2009 and was responsible for the overall management of TCL Multimedia including strategy, business development and operations. Since Mr. YOUNG allocates more dedication and time to his other personal commitment, he has tendered to the Board his resignation as an independent non-executive director of the Company of the Company with effect from 15 January 2016. Upon his resignation, Mr. YOUNG has also ceased to be the chairman of the remuneration committee, member of the nomination committee and audit committee of the Company. Mr. YOUNG confirmed that he has no claim whatsoever against the Company for fees, compensation for loss of office, remuneration, severance payments, pension, expenses
or otherwise and there is no disagreement with the Board and there is no matter relating to his resignation that need to be brought to the attention of the shareholders of the Company or the Stock Exchange.