Luen Thai : RE-DESIGNATION OF DIRECTOR

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LUEN THAI HOLDINGS LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 311)

RE-DESIGNATION OF DIRECTOR

The board of directors (the ''Board'') of Luen Thai Holdings Limited (the ''Company'', together with its subsidiaries, collectively known as the ''Group'') hereby announces that with effect from 1 February 2020, Ms. Mok Siu Wan, Anne (''Ms. Mok'') will be re-designated from an executive director to a non-executive director of the Company, due to her intention to focus on other personal pursuits.

Set out below is the biographical details of Ms. Mok:

Ms. Mok, aged 67, joined the Group in 2003 and was appointed as an executive director of the Company in 2005. Ms. Mok graduated with a Bachelor's degree in Arts from the University of Hong Kong and has attended various management programmes and courses organized by Harvard University, Tsinghua University and INSEAD Euro-Asia Centre.

Ms. Mok is an accomplished industry professional with years of experience in key executive and board member positions out of which over 20 years were spent holding various management positions within the Swire Pacific Group Companies. Ms. Mok also held senior management positions with other prominent organizations including Li & Fung Limited and the Pentland Group plc, a London based international group which develops and owns some leading brands in Sports and Fashion.

Save as disclosed above, Ms. Mok did not hold any directorships in other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the past three years preceding the date of this announcement.

As at the date of this announcement, Ms. Mok is not related to any directors of the Company, senior management or substantial or controlling shareholders of the Company. Ms. Mok beneficially held 2,000,000 Shares in her personal capacity within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

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Ms. Mok has entered into a new service agreement with the Company for her new role and duties as the non-executive director of the Company, for an initial term of one year commencing from 1 February 2020. Ms. Mok is subject to retirement by rotation or re-election at the annual general meeting of the Company in accordance with the Articles of Association of the Company. Pursuant to the new service agreement, Ms. Mok will be entitled to an annual director fee of HK$240,000 and monthly salary of HK$100,000, which is determined by the Board with reference to her qualifications, experience, duties and responsibilities with the Company.

Save as disclosed in this announcement, there are no other matters concerning Ms. Mok that need to be brought to the attention of the Shareholders and there is no other information to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited.

The Board would like to take this opportunity to express its sincere gratitude to Ms. Mok for her valuable services and contributions to the Company during her tenure of office as an executive director.

By order of the Board

Chiu Chi Cheung

Company Secretary

Hong Kong, 31 January 2020

As at the date hereof, the board of directors of the Company comprise the following directors:

Executive Directors:

Shen Yaoqing (Chairman)

Tan Siu Lin (Honorary Life Chairman)

Tan Cho Lung, Raymond (Chief Executive Officer)

Qu Zhiming

Mok Siu Wan, Anne

Non-executive Director:

Huang Jie

Independent Non-executive Directors:

Seing Nea Yie

Chan Henry

Wang Ching

Company's website: www.luenthai.com

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