The board of directors of IR Resources Limited announced that Ms. Yu has tendered her resignation and ceased to be the chairperson of the Board, an executive Director and the compliance officer of the Company as well as a member of the Remuneration Committee and the Nomination Committee with effect from 2 December 2016; Ms. Xu has tendered her resignation and ceased to be an executive Director of the Company with effect from 2 December 2016; and Mr. Chan has been appointed as the chairman of the Board, an executive Director and the compliance officer of the Company as well as a member of the Remuneration Committee and the Nomination Committee with effect from 2 December 2016. Mr. Chan, aged 31, has substantial experience in corporate finance and business management in the agricultural and healthcare industries and is a member of the senior management of the company.