Hong Kong Building and Loan Agency : APPOINTMENT OF EXECUTIVE DIRECTOR (in PDF)

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The Hong Kong Building and Loan Agency Limited

香港建屋貸款有限公司

(Incorporated in Hong Kong with limited liability)

(Stock code: 145) APPOINTMENT OF EXECUTIVE DIRECTOR

The board of directors ("Board") of The Hong Kong Building and Loan Agency Limited (the "Company") is pleased to announce that Mr. Zhuang Miaozhong ("Mr. Zhuang") has been appointed as an executive director of the Company with effect from 16 January 2017.

Mr. Zhuang, aged 47, is an independent director of China CEFC Energy Company Limited, the managing director of CEFC Hong Kong International Holdings Co., Limited, an executive director of China Energy Fund Committee and a director of CITIC International Assets Management Limited. He has over 15 years of work experience in petroleum industry, which includes working in state-owned enterprises in China, overseas corporations and large-scale enterprises. Mr. Zhuang has extensive knowledge and contacts within this field.

As at the date of this announcement, Mr. Zhuang does not have any interest in shares or underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The Company has entered into a letter of appointment with Mr. Zhuang for a term of 2 years commencing from 16 January 2017, subject to re-election by the shareholders of the Company at the next annual general meeting of the Company in accordance with the articles of association of the Company. He is also subject to retirement by rotation and re-election by the shareholders of the Company at the subsequent annual general meetings of the Company in accordance with the articles of association of the Company. Mr. Zhuang is entitled to a director's fee of HK$240,000 per annum, which was determined by the Board with reference to his duties, experience and responsibilities in the Company as well as the prevailing market conditions.

Save as disclosed above, (i) Mr. Zhuang has not held any directorships in other public companies the securities of which are listed on any securities market in Hong Kong or overseas in the last three years prior to the date of his appointment, (ii) Mr. Zhuang does not hold any other position with the Company or its subsidiaries, and (iii) he does not have any other major appointments or professional qualifications. As at the date of this announcement, Mr. Zhuang does not have any relationship with any director, senior management, substantial shareholder or controlling shareholder of the Company.

Save as disclosed above in relation to Mr. Zhuang's appointment, the Board is not aware of any other information that needs to be disclosed pursuant to any of the requirements under Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong and there is no other matter that needs to be brought to the attention of the shareholders of the Company.

The Board expresses its warmest welcome to Mr. Zhuang on joining the Board.

By Order of the Board

The Hong Kong Building and Loan Agency Limited Chong Kok Leong

Executive Director

Hong Kong, 16 January 2017

As at the date of this announcement, the Board comprises Mr. So Yuen Chun, Dr. Li Ai Guo, Mr. Chong Kok Leong and Mr. Zhuang Miaozhong being executive directors of the Company; Mr. Lam Kwok Hing, Wilfred and Mr. Huang Lizhi being non-executive directors of the Company; and Mr. Yeung Wai Hung, Peter, Ms. Yuen Wai Man, Mrs. Chu Ho Miu Hing and Mr. Choy Hiu Fai, Eric being independent non-executive directors of the Company.