The board of directors of China Dredging Environment Protection Holdings Limited announced that Mr. Liu Kaijin, an executive Director, the chief executive officer of the Company and the joint chairman of the Board has been re-designated as the chairman of the Board with effect from 23 September 2016. Mr. KJ Liu will continue to serve as an executive Director and the chief executive officer of the Company. Mr. KJ Liu, aged 56, is the founder of the Group. Mr. KJ Liu was appointed as a Director on 31 May 2010, and was re-designated as an executive Director and chief executive officer of the Company on 24 May 2011 and was appointed as the joint chairman of the Board on 5 March 2012. The Board announced that Mr. Liu Longhua, a non-executive Director and the joint chairman of the Board has been re-designated as the vice chairman of the Board with effect from 23 September 2016. Mr. LH Liu will continue to be a non-executive Director and the chairman of the Nomination Committee of the Company and a member of the Remuneration Committee of the Company. Mr. LH Liu, aged 64, was appointed as non-executive Director, joint chairman of the Board, the chairman of the Nomination Committee and member of the Remuneration Committee on 25 April 2012. The Board announced that with effect from 23 September 2016, Mr. Xu Hengju has resigned as an independent non-executive Director, a member of the audit committee of the Company, the chairman of Remuneration Committee and a member of the Nomination Committee in order to devote more time on his personal matters.