The Board of Hysan Development Company Limited announced that, with effect from the conclusion of the Board meeting of the company to be held on 2 August 2016, Mr. Siu Chuen LAU will step down from his positions as Deputy Chairman and Chief Executive Officer of the company and will cease to be a member of each of the committee of executive directors and strategy committee of the company to devote more time to his personal commitments. He will remain on the Board to work with the company to ensure a smooth transition and will be re-designated as non-executive director of the company upon stepping down from the aforesaid positions. A search process has commenced, in the meantime, Ms. Irene Yun Lien LEE, executive chairman of the company, will continue to lead the Hysan team in her executive role.

Mr. Lau's re-designation as non-executive director is for a term of 3 years up to 1 August 2019, which is subject to retirement by rotation at least once every three years at the annual general meeting of the company since his last re-election in accordance with the Articles of Association.