(1) Mr. Peter Lee Ka-kit has been appointed as Chairman and member of the Board of Directors of the Institute with effect from September 12, 2017.

(2) Mr. Ronnie Chan’s resignations as Chairman of the Executive Committee and member of the Board of Directors were accepted with effect from September 13, 2017. Upon his resignation, Mr. Chan will stay on as a member of the Institute.

Attached: Mr. Peter Lee’s biography is enclosed for reference.