The board of directors of Paradise Entertainment Limited announced that Mr. Kai-Shing Tao has been appointed as an independent non-executive director of the company and the chairman of the company's audit committee and remuneration committee; and a member of the company's nomination committee with effect from April 13, 2014. The Board also announced that Mr. Hu resigned as an independent non-executive director of the company and the chairman of the company's audit committee and remuneration committee; and a member of the company's nomination committee with effect from April 13, 2014 as a result of his personal business engagement. Mr. Hu confirms that he has no disagreement with the Board of the company.

Mr. Tao, aged 37, graduated from the Stern School of Business at New York University and has served as a member of Remark Media Inc.'s board of directors since Remark Media Inc.'s public listing in 2007.