The board of directors of Tesson Holdings Limited announced that Mr. Zhang Xiaofeng has tendered his resignation as an executive Director and the Chief Executive Officer of the company with effect from 4 March 2016 due to his health concerns. Upon Mr. Zhang's resignation as an executive Director and the Chief Executive Officer of the company, Mr. Zhang also ceased to be an authorized representative of the company for the purpose of the Listing Rules and a member of each of the remuneration committee, the nomination committee and the internal control committee of the company with effect from 4 March 2016. The Board also announced that Mr. Au Yeung Chi Hang, Jimmy has tendered his resignation as the Chief Financial Officer and company Secretary of the company with effect from 7 March 2016 due to personal reason.

Upon Mr. Au Yeung's resignation as the Chief Financial Officer and Company Secretary of the company, Mr. Au Yeung also ceased to be an authorized representative of the company for the purpose of the Listing Rules. The Board further announced that Mr. Chan Wei has been appointed as the Chief Financial Officer and Company Secretary of the company in place of Mr. Au Yeung. Following Mr. Zhang and Mr. Au Yeung's resignation, each of Mr. Tin Kong, the chairman of the company, and Mr. Chan has also been appointed as an authorized representative of the company for the purpose of the Listing Rules with effect from 4 March 2016 and 7 March 2016, respectively.

The Board announced that Mr. Sheng Siguang has been appointed as an executive Director with effect from 8 March 2016. The Board further announced that each of Mr. Chen Weixi and Mr. Ng Ka Wing has been appointed as an independent non-executive Director with effect from 8 March 2016. Mr. Chen is currently a director and chief financial officer of Hong Kong TV International Media Group Limited.

Mr. Ng is the managing director of a bus manufacturer and the chairman of Hong Kong Bus Suppliers Association. Following the resignation of Mr. Zhang, Mr. Tin Kong, an executive Director, has been appointed as the chairman of the nomination committee, internal control committee and remuneration committee. Mr. Ng and Mr. Chen have been appointed as the member of the remuneration committee, nomination committee, internal control committee and audit committee of the Board.

Mr. Wang Jinlin, an independent non-executive Director, will take up the role of Mr. Lee Kwong Yiu, an independent non-executive Director, as being the member of remuneration committee, internal control committee and nomination committee. All of the above changes with effect from 8 March 2016.