The board of directors of New World Development Company Limited announced the following changes in directorships of the Company with effect from 1 June 2018: Mr. Sitt Nam-Hoi has been appointed as an executive director of the Company with effect from 1 June 2018. Mr. Sitt joined the Group and was appointed as Head of Projects (Hong Kong) of the Company in February 2011. He is currently the senior director of the Project Management Department of the Company and director of certain subsidiaries of the Group. Before joining the Company, he was the project director of a listed public company in Hong Kong which he worked for over 25 years. Mr. So Chung-Keung, Alfred has been appointed as an executive director of the Company with effect from 1 June 2018. Mr. So joined the Group as the chief executive officer of New World China Land Limited in January 2016. He is currently a director and chief executive officer of New World China Land Limited (a listed public company in Hong Kong until its delisting on 4 August 2016) and director of certain subsidiaries of the Group. Prior to joining the Group, Mr. So worked with a listed group in Hong Kong for over 30 years. Mr. So previously served as executive director and non-executive director of a Hong Kong-listed public company and was appointed as adviser to a Hong Kong-listed mainland China property developer. He is currently a member of the Hong Kong Institute of Real Estate Administrators and a member of The Community Chest Corporate & Employee Contribution Programme Organising Committee. Mr. Sitt and Mr. So will serve as member of the Executive Committee of the Board effective upon their appointment as executive director of the Company. Mr. Ip Yuk-Keung has been appointed as an independent non-executive director of the Company and will serve as a member of the Audit Committee and the Nomination Committee of the Board with effect from 1 June 2018. Mr. Ip is an independent non-executive director of Hopewell Holdings Limited, TOM Group Limited, Power Assets Holdings Limited and Lifestyle International Holdings Limited, all being listed public companies in Hong Kong. He is also the executive director and chief executive officer of LHIL Manager Limited which is the trustee-manager of Langham Hospitality Investments (a listed fixed single investment trust) and Langham Hospitality Investments Limited, and a non-executive director of Eagle Asset Management (CP) Limited, as manager of Champion Real Estate Investment Trust (a listed real estate investment trust). In addition, he was an independent non-executive director of New World China Land Limited (a listed public company in Hong Kong until its delisting on 4 August 2016) from December 2012 to August 2016, AEON Credit Service (Asia) Company Limited (a listed public company in Hong Kong) from September 2013 to September 2016, and Hopewell Highway Infrastructure Limited (a listed public company in Hong Kong) from July 2011 to May 2018. Ms. Ki Man-Fung, Leonie ("Ms. Ki") will be re-designated from an executive director of the Company to a non-executive director of the Company and appointed as an adviser of the Company with effect from 1 June 2018. Ms. Ki was appointed as a non-executive director of the Company in December 2008 and was re-designated as executive director in March 2012. Prior to her re-designation, Ms. Ki is a member of the Executive Committee of the Board. Ms. Ki has been the managing director of New World China Enterprises Projects Limited (a subsidiary of the Company) since 1997 and is also a director of certain subsidiaries of the Group. Ms. Ki is an independent non-executive director of Clear Media Limited and Sa Sa International Holdings Limited, both are listed public companies in Hong Kong.