Grand T G Gold Holdings Limited announced that Mr. Chan and Mr. Guo have been absent from meetings of the Board for more than six consecutive months and no alternate Director has attended in their places. Accordingly, the Board resolved that the offices of Mr. Chan and Mr. Guo as Directors shall be vacated with effect from the conclusion of the meeting of the Board on November 11, 2012. The Board also resolved that Dr. Cheung Wai Bun, Charles J.P., an independent non-executive Director and the Chairman of the Nomination Committee and the Remuneration Committee of the company be appointed as the Chairman of the Board with effect from the conclusion of the meeting of the Board on November 11, 2012.