Central Development Holdings Limited — Board/Management Information 2021

Oct 28, 2021

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.

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CHINA RESOURCES AND TRANSPORTATION GROUP LIMITED 中國資源交通集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 269)

RESIGNATION OF CHAIRMAN, EXECUTIVE DIRECTOR AND RE-DESIGNATION OF CHAIRMAN

The Board of the Company announces that with effect from 28 October 2021:

1. the resignation of Mr. Cao Zhong (“ Mr. Cao ”) as the chairman of the Board, an executive Director, the chairman of the Nomination Committee and the member of the Remuneration Committee of the Company was accepted; and

2. Mr. Fung Tsun Pong (“ Mr. Fung ”), an executive Director of the Company, was redesignated from the post of vice-chairman to chairman of the Board.

The board (the “ Board ”) of directors (the “ Directors ”, each a “ Director ”) of China Resources and Transportation Group Limited (the “ Company ” and together with its subsidiaries, the “ Group ”) announces that Mr. Cao had tendered his resignation recently as the chairman of the Board, an executive Director, the chairman of the Nomination Committee and the member of the Remuneration Committee of the Company due to his increasing personal commitments and his resignation was accepted by the Board on 28[th] October 2021.

Mr. Cao confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited or the shareholders of the Company.

The Company was notified by the Official Receiver’s Office on 28 October 2021 that a bankruptcy order was made against Mr. Cao on 27 October 2021 and upon enquiry, the Company was informed by Mr. Cao that the petition of his bankruptcy did not relate to any debts of the Company. As such, the Board is of the view that his bankruptcy order will not have any impact on the business operation and financial position of the Company.

The Board also announces the re-designation of Mr. Fung from the post of vice-chairman to chairman of the Board effective from the date of this announcement.

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The Board takes this opportunity to express its appreciation to Mr. Cao for his contribution to the Company during his tenure in office.

By order of the Board China Resources and Transportation Group Limited Fung Tsun Pong Chairman

Hong Kong, 28 October 2021

As at the date of this announcement, the board of directors comprises five executive directors, namely Messrs Fung Tsun Pong, Gao Zhiping, Jiang Tao, Duan Jingquan and Li Wing Chiu; and four independent non-executive directors, namely Messrs Jing Baoli, Bao Liang Ming, Xue Baozhong and Ms. Chan Chu Hoi.

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