The board of directors of Kwan On Holdings Limited announced that Mr. Chung Chi Ngong has resigned as an Executive Director with effect from 20 September 2016 and will remain as a director and senior management executive of certain subsidiaries of the company in order to focus on the management of the operations of those subsidiaries of the company. He has further confirmed that he had no disagreement with the Board and there are no circumstances connected with his resignation that need to be brought to the attention of The Stock Exchange of Hong Kong Limited and the shareholders of the company.