The board of directors of Miramar Hotel and Investment Company, Limited announced with deep regret that Dr. David Sin Wai Kin ("Dr. David Sin Wai Kin"), a Vice Chairman and an independent non-executive director of the Company, chairman of the nomination committee and a member of the audit committee and of the remuneration committee of the Company, passed away on 17 April 2023. The late Dr. David Sin Wai Kin joined the Board in 1974 and has been a Vice Chairman of the Company since 1985. The Board would like to express its sincere appreciation to the late Dr. David Sin Wai Kin for his valuable contribution to the Company during his term of service. The Board and the staff express the deepest sorrow for the passing of Dr. David Sin Wai Kin and convey their sincere condolence to his family. Following the departure of Dr. David Sin Wai Kin, the chairman position of nomination committee
has vacated which does not meet the requirement under Rule 3.27A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the number of independent non-executive directors of the audit committee and remuneration committee of the Company have fallen below majority required under Rule 3.21 and Rule 3.25 of the Listing Rules respectively.