The board of directors of Chinese Estates Holdings Limited announced that Mr. Lau, Ming-wai has tendered his resignation as the Chief Executive Officer of the company, an authorised representative of the company under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, the chairman and member of the investment committee of the Board and director of subsidiaries of the company. Effective commencing on November 1, 2015. Mr. Lau confirmed that he has no disagreement with the Board.

In light of Mr. Lau's resignation, the Board has approved the appointment of Ms. Chan, Sze-wan, an Executive Director, as the Chief Executive Officer of the company, an Authorised Representative of the company and the chairman and member of the investment committee of the Board, with such appointments to be effective commencing November 1, 2015. Ms. Chan joined the group in 2002 and has been appointed as an Executive Director of the company since 2012. She also acts as a director of certain subsidiaries of the Company.

Ms. Chan has over 12 years of experience in sales and marketing. The Board announced that Mr. Lau will be re-designated from an Executive Director to a Non-executive Director with effect commencing on November 1, 2015. Mr. Lau will remain as the Chairman of the Board of the company.

Mr. Lau has been a Director of the company since 2006 and has been appointed as the Chairman of the Board in March 2014.