Playmates Toys Limited announced that Mr. Lee Ching Kwok, Rin ("Mr. Lee") did not offer himself for re-election at the AGM and accordingly he retired as an independent non-executive director ("INED") of the Company at the conclusion of the AGM. Following his retirement, Mr. Lee also ceased to be the chairman of the Compensation Committee, a member of each of the Audit Committee and the Nomination Committee of the Company. Mr. Lee confirmed that he has no disagreement with the board of directors of the Company ("Board") and there is no matter that needs to be brought to the attention of the shareholders in respect of his retirement.