The board of Sincere Watch (Hong Kong) Limited announced that Mr. Chang Hoi Nam, an independent non- executive Director, retired by rotation and did not offer himself for re-election at the AGM held on September 18, 2012 due to his other business engagements. Following his retirement, Mr. Chang ceased to act as the chairman of the remuneration committee, a member of the nomination committee and a member of the audit committee with effect from September 18, 2012. The board of the company announced that Dr. Wong Yun Kuen has been appointed as an independent non-executive director, the chairman of the remuneration committee, a member of the nomination committee and a member of the audit committee with effect from September 18, 2012.