Tianjin Development Holdings Limited announced that Mr. Cheung Wing Yui, Edward, non-executive Director, Dr. Cheng Hon Kwan, Mr. Mak Kwai Wing, Alexander and Dr. Loke Yu, independent non-executive Directors, who have served the Board for over ten years, did not offer themselves for re-election and retired by rotation at the conclusion of the AGM. Mr. Cheung, Dr. Cheng, Mr. Mak and Dr. Loke have confirmed that they have no disagreement with the Board and there is no matter relating to their retirement that needs to be brought to the attention of the Shareholders. The Board would like to express its gratitude to Mr. Cheung, Dr. Cheng, Mr. Mak and Dr. Loke for their invaluable contributions to the Company during their tenure of office.

Following the aforesaid retirement, Dr. Cheng also ceased to be the chairman and a member of the remuneration committee, a member of each of the audit committee and the nomination committee of the Company; Mr. Mak also ceased to be the chairman and a member of the investment committee, a member of each of the audit committee, the nomination committee and the remuneration committee of the Company; and Dr. Loke also ceased to be a member of the audit committee of the Company. Mr. Lau Ka Keung and Mr. Sin Hendrick, independent non-executive Directors, have been appointed as the chairman of the remuneration committee and the chairman of the investment committee of the Company respectively, both with effect after the conclusion of the AGM.