Fairwood : Appointment of Director

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FAIRWOOD HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 52)

APPOINTMENT OF DIRECTOR

Mr LO Fai Shing Francis has been appointed as an Executive Director of the Company with effect from 1 January 2019.

The board of directors (the "Board") of Fairwood Holdings Limited (the "Company") is pleased to announce that Mr LO Fai Shing Francis ("Mr Francis Lo") has been appointed as an Executive Director of the Company with effect from 1 January 2019 (the "Appointment").

Mr Francis Lo, aged 36, attended the School of Computer Science at Carnegie Mellon University. Prior to joining the Company, Mr Francis Lo held a senior management position at an overseas restaurant and had over four years of experience in the food and beverage industry including management of operations, product development and business strategy formulation. In August 2013, he joined the Company as a Management Trainee. In February 2015, he was promoted to Executive Manager and has been a Specialty Restaurant General Manager since April 2018. Save as disclosed above, Mr Francis Lo has not held any other position with the Company or any member of the Group. Further, he has not held directorship in any other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the past three years.

As at the date of this announcement, for the purpose of Part XV of the Securities and Futures Ordinance, Chapter 571 of the Laws of Hong Kong (the "SFO"), Mr Francis Lo is deemed to be interested in 55,435,384 shares in the Company, representing 43.09% of the total number of issued shares of the Company, by virtue of being a beneficiary of two discretionary trusts. These shares represent the same block of interests which Mr Dennis LO Hoi Yeung ("Mr Dennis Lo") is deemed to be interested in. In addition, Mr Francis Lo has interests in share options to subscribe for 80,000 shares of the Company. Save as disclosed above, he has no other interests in the shares of the Company within the meaning of Part XV of the SFO. Mr Francis Lo is the son of Mr Dennis Lo, the Executive Chairman of the Company. Save as disclosed above, he does not have any relationship with any other directors, senior management or substantial or controlling shareholders of the Company.

Mr Francis Lo has a service contract with the Company which may be terminated by either party upon giving three months' prior written notice. He is entitled to an annual salary and a discretionary bonus with reference to his duties and responsibilities with the Company approximately HK$1,000,000. In addition, he will be paid a director's fee of HK$150,000 per annum. The amount of emolument was determined by the Board with reference to his duties and responsibilities with the Company and the prevailing market conditions. In accordance with the Bye-laws of the Company (the "Bye-laws"), he shall hold office until the next annual general meeting of the Company and shall be eligible for re-election. Thereafter, he shall be subject to retirement by rotation and re-election pursuant to the Bye-laws.

Save as disclosed above, there are no other matters relating to the Appointment that need to be brought to the attention of the shareholders of the Company, nor is there other information that is required to be disclosed pursuant to Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Board would like to express its warm welcome to Mr Francis Lo for joining the Board.

By Order of the Board Dennis Lo Hoi Yeung Executive Chairman

Hong Kong, 2 January 2019

As at the date of this announcement, the Directors of the Company are:

Executive Directors: Mr Dennis Lo Hoi Yeung (Executive Chairman), Mr Chan Chee Shing (Chief Executive Officer), Ms Mak Yee Mei, Ms Peggy Lee and Mr Lo Fai Shing Francis; and

Independent Non-executive Directors: Mr Ng Chi Keung, Mr Joseph Chan Kai Nin, Dr Peter Lau Kwok Kuen, Mr Tony Tsoi Tong Hoo and Mr Peter Wan Kam To.

Website:www.fairwoodholdings.com.hk