Hanison Construction : APPOINTMENT OF DIRECTORS

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APPOINTMENT OF DIRECTORS

The board of directors (the "Board") of Hanison Construction Holdings Limited (the "Company", together with its subsidiaries, the "Group") is pleased to announce that Dr. Lam Chat Yu has been appointed as a non-executive director and Mr. Chow Ka Fung has been appointed as an executive director of the Company with effect from 3 March 2021.

Non-executive Director

Dr. Lam Chat Yu (Alias: Chat), aged 69, joined the Group in November 2001 as an executive director and was re-designated as a non-executive director on 27 August 2013. He resigned from the Board in 2015 to pursue personal interests. Dr. Lam is specialised in the areas of direct investment, financial advisory, and asset management. He has extensive investment experience in the technology sector, including 15 years in Silicon Valley, California, and over 20 years in Asia. Dr. Lam holds a Ph.D. degree of Management Science from MIT Sloan School of Management, M.S degree in Computer Science from Northwestern University and a B.S degree of Electrical Engineering.

As at the date of appointment, Dr. Lam has interests in 2,406,000 shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (the "SFO"). Pursuant to the letter of appointment signed between Dr. Lam and the Company, the term of appointment of Dr. Lam is fixed for three years commencing from 3 March 2021 which is determinable by either party on a 2-month notice, subject to the retirement and re-election provisions as set out in the Company's memorandum and articles of association (the "Articles") and the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"). Dr. Lam is entitled to receive a director's fee of HK$100,000 per annum, which is determined by the Board upon the recommendation by the remuneration committee of the Company with reference to his duties and responsibilities and the market conditions.

Dr. Lam is a director of C.M. Capital Advisors (HK) Limited which is an entity controlled by Mr. Cha Mou Daid, Johnson, the non-executive Chairman of the Company. Except as disclosed herein, Dr. Lam (i) did not hold any directorship in other listed public companies in the last three years; and (ii) does not have any relationship with any directors, senior management, or substantial or controlling shareholders of the Company.

Save as disclosed above, there is no other matter that needs to be brought to the attention of the shareholders of the Company and there is no other information which is required to be disclosed pursuant to any of the requirements of Rule 13.51(2) of the Listing Rules, in relation to the appointment of Dr. Lam as a non-executive director of the Company.

Executive Director

Mr. Chow Ka Fung (Alias: Matthew), aged 51, joined the Group in 1998. He is a director of certain subsidiaries of the Group and oversees the Property Development Division, Property Investment Division as well as Property Agency and Management Division. He also serves as a member of the

General Business Committee and the Property Acquisition/Disposal Committee of the Company. Mr.

Chow specialises in property development, investment, marketing, management and project management in Hong Kong and the People's Republic of China. He holds a bachelor of science degree in land management from The Hong Kong Polytechnic University. Mr. Chow is a Registered

Professional Surveyor (General Practice) (Property and Facility Management) under the Surveyor Registration Board (RPS). He is also a member of the Royal Institution of Chartered Surveyors

(MRICS), a member of China Institute of Real Estate Appraisers and Agents (MCIREA), a member of the Chartered Institute of Arbitrators (MCIArb) and a member of Hong Kong Institute of Surveyors (MHKIS).

As at the date of appointment, Mr. Chow has interests in 2,394,000 shares and 3,383,000 option shares in the Company within the meaning of Part XV of the SFO. There is a service agreement entered into between the Company and Mr. Chow, he has been appointed for a fixed term of three years commencing from 3 March 2021 which is determinable by either party on a six-month notice, subject to the retirement and re-election provisions as set out in the Articles and the Listing Rules. Under his service agreement,

Mr. Chow is presently entitled to receive an annual salary of HK$1,620,000 and performance and incentive based discretionary bonuses and other related employee benefits and allowances, which are determined with reference to his duties and responsibilities, his individual's and the Group's

performance, and the market conditions.

Mr. Chow (i) did not hold any directorship in other listed public companies in the last three years; and (ii) does not have any relationship with any directors, senior management, or substantial or controlling shareholders of the Company.

Save as disclosed above, there is no other matter that needs to be brought to the attention of the shareholders of the Company and there is no other information which is required to be disclosed pursuant to any of the requirements of Rule 13.51(2) of the Listing Rules, in relation to the appointment of Mr. Chow as an executive director of the Company.

The Board extends its warm welcome to Dr. Lam and Mr. Chow for joining the Board.

By order of the Board

Hanison Construction Holdings Limited

Wong Sue Toa, Stewart

Managing Director

Hong Kong, 4 March 2021

As at the date of this announcement, the Board comprises: