The Board of Directors of Nico Steel Holdings Limited announced the changes to the Board and Board committees of the company with effect from February 28, 2014. Mr. Tan Soo Kiat has ceased as an Independent Director of the company with effect from February 28, 2014. Following his resignation, Mr. Tan Soo Kiat shall cease to be the chairman of the nominating committee, chairman of the remuneration committee and a member of the audit committee.

Mr. Xue Jing will be appointed as an Independent Director of the company with effect from February 28, 2014. Mr. Xue Jing will also be appointed as chairman of nominating committee and remuneration committee and a member of the audit committee.