The board of directors of Styland Holdings Limited is deeply saddened to learn and announce that Mr. Yeung Shun Kee, an independent non-executive director of the Company, the chairman of the remuneration committee of the Company and a member of the audit committee, remuneration committee and nomination committee of the Company, passed away on 19 September 2021. Mr. Yeung had been a director of the Company since 2003 and he made valuable contributions to the Company during his tenure of office. The Board would like to express sincere gratitude to Mr. Yeung for his dedication and convey its deepest condolences to his family. Following the passing away of Mr. Yeung, the Company has two independent non-executive directors and does not meet the requirements under Rules 3.10(1), 3.21 and 3.25 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. The Board will seek to appoint a new independent non-executive director, new chairman of the remuneration committee and a new member of the audit committee, remuneration committee and nomination committee of the Company as soon as possible and uses its best endeavor to meet the time period in Rules 3.11, 3.23 and 3.27 of the Listing Rules.