The board of directors of Capital VC Limited announced that Mr. Cheung Kwok Yu has resigned as an independent non-executive Director as well as member of its audit Committee, nomination committee and remuneration committee of the company with effect from March 6, 2013 as Cheung's other business engagements require more of his time and attention. Cheung has confirmed that there is no disagreement with the Board and he is not aware of any matter relating to his resignation which needs to be brought to the attention of the shareholders of the company. The board announced that Mr. Lee Ming Gin has been appointed as an independent non-executive Director as well as member of audit committee, nomination committee and remuneration committee of the Company following Cheung's resignation, with effect from March 6, 2013.

Lee is experienced in securities, insurance advisory and fund management having been working for several wealth and asset management firms. Lee has not held any directorship in any public companies the securities of which are listed on any securities exchange in Hong Kong or overseas in the past three years. He has not previously held any position in the Company or its subsidiaries, nor has any relationship with any directors, senior management or substantial or controlling shareholders of the Company. As at the date of this announcement, Mr. Lee does not have any interest in the shares of the company within the meaning of Part XV of the SFO.

The board announced that Tang Tsz Tung has been appointed as an executive director of the company and a member of its investment committee with effect from March 6, 2013. Tang has a wealth of working experience in dealing in securities, fund management, corporate management and corporate finance. He worked in Citigroup Global Markets Asia Limited from September 2000 to November 2008, during this period Tang had more than 5 years of experience in third party portfolio management consisting of global equities, fixed income, Forex and derivative products.