The board of the directors of 21 Holdings Limited announced that Mr. Xiang Shaokun, Steven an executive director of the company, has been appointed as the chief executive officer of the company and its subsidiaries with effect from 18 September 2015. Mr. Xian is an executive director of the company, Mr. Xiang was a partner of Weil, Gotshal & Manges LLP, where he has led its China practice since 2004. The board announced that: Mr. Ng Kai Man resigned as an executive director of the company with effect from 18 September 2015; and Mr. Man Kong Yui resigned as an independent non-executive director of the company with effect from 18 September 2015.

Each of Mr. Ng Kai Man and Mr. Man Kong Yui has tendered his resignation due to his other work commitments. The board further announced that, with effect from 18 September 2015: Mr. Man Kong Yui ceased to be a member of the audit committee, nomination committee and remuneration committee of the Company respectively; Mr. Su Tuong Sing, David and Mr. So Chak Kwong have been appointed as members of the audit committee of the company; Mr. Su Tuong Sing, David has been appointed as a member and the chairman of the nomination committee and remuneration committee of the company; and Mr. Dong Ping and Mr. Li Xiaolong has been appointed as the member of nomination committee and remuneration committee of the company.