Playmates Toys Limited announced that Mr. Chan Chun Hoo, Thomas (Mr. Chan), the Chairman of the Board of Directors of the company has decided not to stand for re-election upon expiry of the present term of directorship at the AGM. Consequently, Mr. Chan has retired as the Chairman and a director of the company at the conclusion of the AGM. Following his retirement, Mr. Chan also ceased to be the Chairman of the Nomination Committee of the company. The Board designated Mr. To Shu Sing, Sidney (Mr. To), an executive director of the company, to succeed Mr. Chan as Chairman of the Board with effect from the conclusion of the AGM. The Board further announced that Mr. To has also been appointed as the Chairman of the Nomination Committee and a member of the Compensation Committee of the company with effect from 18 May 2017. The Board announced that, Mr. Chan Kong Keung, Stephen (Mr. Stephen Chan) was elected by the shareholders at the AGM as a Director of the company with effect from the conclusion of the AGM. The Board also announced that Mr. Stephen Chan has been appointed to replace Mr. Chan as one of the authorised representatives of the company pursuant to Rule 3.05 of the Listing Rules with effect from 18 May 2017.