The board of directors of Modern Education Group Limited announced that Ms. Yiu Wai Yee, Catherine has tendered her resignation as the executive director with effect from January 15, 2013, due to her other commitments in the company. Ms. Yiu is currently and will remain as the chief executive officer of the company. The Board of the company announced that Mr. Yu Cheeric James has tendered his resignation as the independent non-executive director, the chairman of the remuneration committee and the member of the audit committee and nomination committee of the company, with effect from 15 January 2013, due to his other commitments in the near future.

Immediately after the resignation of Mr. Yu, Mr. Kwok Shun Tim, the independent non-executive director of the company, has been appointed as the chairman of the remuneration committee with effect from 15 January 2013.