International Business Settlement Holdings Limited announced that Mr. Zhang Guangsheng ("Mr. Zhang") informed the Company on 22 July 2019 that he will not offer himself for re-election at the AGM as he needs to devote more time to his other business commitments. After the retirement of Mr. Zhang, he ceased to act as the chairman of the nomination committee and a member of each of the remuneration committee and the audit committee of the Board. The Board announced that Mr. Chan Siu Tat, an independent non-executive director, has been appointed by the Board as the chairman of the nomination committee in place of Mr. Zhang with effect from 12 September 2019.