The board of directors of China Overseas Grand Oceans Group Limited announced that, with effect from 26 June 2020, Mr. Yang Lin, an executive director of the Company, has ceased to be a member of the remuneration committee of the Company (the "Remuneration Committee"). Following the aforesaid change, the members of the Remuneration Committee will be Mr. Lam Kin Fung, Jeffrey (Chairman), Mr. Yung Kwok Kee, Billy, Dr. Chung Shui Ming, Timpson and Mr. Lo Yiu Ching, Dantes.