Fairwood : Re-designation of Director

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

FAIRWOOD HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 52) RE-DESIGNATION OF DIRECTOR

Mr. Ng Chi Keung has been re-designated from Non-executive Director of the Company to Independent Non-executive Director of the Company with effect from 6 June 2017.

The board of directors (the "Board") of Fairwood Holdings Limited (the "Company") hereby announces that Mr. Ng Chi Keung ("Mr. Ng") has been re-designated as an Independent Non-executive Director of the Company with effect from 6 June 2017.

Mr. Ng, aged 68, has been a Non-executive Director and a member of the Audit Committee of the Company since 1 January 2010. He is also a member of the Remuneration Committee of the Company since March 2006.

Mr. Ng holds a Master Degree in Business Administration. He is an Associate Member of the Institute of Chartered Accountants in England and Wales, the Hong Kong Institute of Certified Public Accountants and the Chartered Institute of Management Accountants. Mr. Ng has over 30 years' experience in finance and management. Prior to joining the Company, he held senior management positions with a number of well-known local and overseas multinational companies. Mr. Ng joined the Company in 1994 and was appointed as the Company Secretary and authorized representative of the Company in June 1994 and as an Executive Director of the Company in November 1995. He also served as a director of various subsidiaries of the Company until his resignation on 1 January 2010. He was re-designated as a Non-executive Director of the Company from 1 January 2010 following his retirement from the Company. At the same time, Mr. Ng was also appointed as a member of the Audit Committee and remains as a member of the Remuneration Committee of the Company.

Mr. Ng does not have any relationship with any directors, senior management or substantial or controlling shareholders of the Company nor hold any other position with the Company or its subsidiaries (together the "Group").

Mr. Ng is an Independent Non-executive Director of Soundwill Holdings Limited which is listed on the main board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). Save as disclosed herein, Mr. Ng does not hold any directorship in any other public listed companies in the last three years.

As at the date of this announcement, Mr. Ng does not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance, Chapter 571 of the Laws of Hong Kong.

Under the service contract between Mr. Ng and the Company, Mr. Ng's appointment is for a term of 3 years with either the Company or Mr. Ng having the right to terminate the appointment by giving to the other three months' prior written notice. By the same service contract, Mr. Ng is also appointed as a member of Company's Audit Committee and Remuneration Committee and he will be paid a director's fee of HK$150,000.00 per annum, a fee of HK$20,000.00 per annum as a member of Audit Committee and a fee of HK$10,000.00 per annum as a member of the Remuneration Committee of the Company. The amounts of fee were determined by the Board with reference to his duties and responsibilities with the Company and the prevailing market conditions.

Since Mr. Ng's retirement from the Group on 1 January 2010, he does not hold any executive or management role in the Group except as a Non-executive Director and a member of the Audit and Remuneration Committees of the Company. He does not take part in the day to day running of the operations and management of the Group's business except for attendance at and participation in the Board and committee meetings of the Company. Therefore, the Board is of the opinion that Mr. Ng' long relationship with the Group will not affect his independence as an Independent Non-executive Director of the Company. Accordingly, the Board is satisfied and has demonstrated to the satisfaction of the Stock Exchange that none of the factors in rule 3.13 of the Rules Governing the Listing of Securities on the Stock Exchange ("Listing Rules") applies to his re-designation as an Independent Non-executive Director of the Company.

Save as disclosed above, there are no other matters relating to the re-designation of Mr. Ng that need to be brought to the attention of the shareholders of the Company nor is there any other information that is required to be disclosed pursuant to rule 13.51(2) of the Listing Rules.

By Order of the Board

Mak Yee Mei

Company Secretary

Hong Kong, 6 June 2017

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) and Ms Mak Yee Mei; 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