CAI Corp — Board/Management Information 2012

Jun 28, 2012

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

HARBOUR CENTRE DEVELOPMENT LIMITED

(Incorporated in Hong Kong with limited liability)

Stock Code: 51

CHANGES IN DIRECTORATE

Harbour Centre Development Limited (the "Company"; together with its subsidiaries, the "Group") announces that:

(1) Mr. LEUNG, Kwan Yuen Andrew ("Mr. Leung") has been appointed a director of the Company, such appointment to be with effect from 1 July 2012, and he will be an independent non-executive director ("INED") of the Company upon his appointment becoming effective;

(2) Mr. YICK, Chi Ming Frankie ("Mr. Yick") has been appointed a director of the Company, such appointment to be with effect from 1 July 2012. Mr. Yick will be a non-executive director (but not an INED) of the Company upon his appointment becoming effective;

(3) Ms. LENG, Yen Thean ("Ms. Leng") has been appointed a director of the Company, such appointment to be with effect from 1 July 2012. Ms. Leng will be a non-executive director (but not an INED) of the Company upon her appointment becoming effective; and

(4) Ms. LEE, Yuk Fong Doreen ("Ms. Lee") has tendered her resignation as a non-executive director of the Company effective from 1 July 2012.

Mr. Leung, GBS, JP, aged 61, has more than 33 years of management experience in the textile, manufacturing, wholesale and distribution businesses. Mr. Leung is a member of the Industrial (First) Functional Constituency of the Legislative Council of Hong Kong, a council member of Hong Kong Trade Development Council, a director of The Hong Kong Mortgage Corporation Ltd, and a non-executive director of The Mandatory Provident Fund Schemes Authority. He is also honorary president of the Federation of Hong Kong Industries, and honorary chairman of Textile Council of Hong Kong. Mr. Leung is the chairman of Sun Hing Knitting Factory Ltd. He is also an INED of Dah Sing Banking Group Limited and China South City Holdings Limited, both being public companies listed on The Stock Exchange of Hong Kong Limited (the "Stock Exchange"). He was an INED of Meadville Holdings Limited (whose shares were listed on the Stock Exchange until April 2010). Mr. Leung holds a BSc (Hon) degree awarded by Leeds University, U.K., and is a Fellow of Textiles Institute and of Clothing & Footwear Institute.

Mr. Yick, MSc, BSc, CEng, FCILT, MIET, MCIPS, aged 58, joined The Wharf (Holdings) Limited ("Wharf") group (of which the Company is a member) in 1994. He is now responsible for,

Harbour Centre Development Limited - Announcement (28 June 2012)

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inter alia, overseeing the Wharf group's public transport and terminals portfolio. Mr. Yick has extensive industrial and management experience in the public transportation and logistics industry and holds directorships in various Wharf group companies. Mr. Yick is the managing director of The "Star" Ferry Company, Limited and a director of Modern Terminals Limited, both being subsidiaries of Wharf. He is also a director of Hong Kong Air Cargo Terminals Limited which is an associate of Wharf. Mr. Yick is a chartered engineer. He holds a Bachelor Degree in Industrial Engineering awarded by The University of Hong Kong and a Master Degree in Industrial Management awarded by The University of Birmingham, U.K.

Ms. Leng, BSc(Hons), MRICS, MHKIS, RPS, aged 40, joined the Wharf group in 2004. She is a director of Harbour City Estates Limited, Times Square Limited and Wharf Estates Limited, all being wholly-owned subsidiaries of Wharf. Ms. Leng has extensive experience in the real estate industry, in particular, leasing and management of large scale commercial and retail properties, and the planning, design and development of property projects in Hong Kong. She is responsible, inter alia, for the business operation of Times Square in Causeway Bay. Ms. Leng is a chartered surveyor and holds a Bachelor Degree in Land Management with first class honors.

Save as disclosed above, each of Mr. Leung, Mr. Yick and Ms. Leng does not at present, nor did any of them in the past three years, hold any directorship in any other listed public company, and none of them has any relationship with any directors, senior management or any substantial or controlling shareholders of the Company. None of them has any interest (within the meaning of Part XV of the Securities and Futures Ordinance) in any securities of the Company. Each of Mr. Leung, Mr. Yick and Ms. Leng will receive from the Company a director's fee at the rate of HK$40,000 per annum. This rate of director's fee is in line with that payable to other directors, including other INEDs, of the Company. There exists no service contract between any of them and the Group, and therefore no emolument will be payable to any of them by the Group apart from the abovementioned director's fee. In relation to their appointments, there is no information which is discloseable nor has any of them ever been involved in any of the matters required to be disclosed pursuant to any of the requirements of the provisions under paragraphs 13.51(2)(h) to 13.51(2)(v) of the Listing Rules, and there is no other matter requiring to be brought to the attention of the shareholders of the Company. In accordance with the provisions of the Company's articles of association, they will hold office until they retire from the board of directors of the Company (the "Board") at the Annual General Meeting of the Company to be held in or about May 2013.

Ms. Lee, who is an executive director of Wharf, has served as a non-executive director of the Company since 2010. Her resignation as a director of the Company would enable her to devote more time to Wharf's business. She has confirmed that she has no disagreement with the Board and there is no matter which needs to be brought to the attention of the shareholders of the Company in respect of her resignation.

For HARBOUR CENTRE DEVELOPMENT LIMITED Wilson W. S. Chan Company Secretary

Hong Kong, 28 June 2012

As at the date of this announcement, the Board comprises Mr. Stephen T. H. Ng, Ms. Doreen Y. F. Lee, Mr. T. Y. Ng and Mr. Paul Y. C. Tsui, together with four Independent Non-executive Directors, namely, Dr. Joseph M. K. Chow, Mr. H. M. V. de Lacy Staunton, Mr. Michael T. P. Sze and Mr. Brian S. K. Tang.

Harbour Centre Development Limited - Announcement (28 June 2012)