IRC Limited — Board/Management Information 2012

Aug 31, 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.

==> picture [221 x 94] intentionally omitted <==

(Stock Code: 488)

RESIGNATION OF DIRECTOR

AND

CHANGE OF REMUNERATION COMMITTEE MEMBERS

The board of directors (the “ Board ”) of Lai Sun Development Company Limited (the “ Company ”) announces that with effect from 1 September 2012:

• (1) Mr. Cheung Sum, Sam (“ Mr. Cheung ”) will resign as an executive director of the Company (“ ED ”) to pursue other interests;

• (2) Mr. Cheung will cease to be a member of the Remuneration Committee of the Company (the “ RC ”); and

• (3) Mr. Chew Fook Aun, an ED and the Deputy Chairman of the Company, will be appointed a member of the RC.

Mr. Cheung has confirmed that in relation to his resignation, he has no disagreement with the Board and there are no other matters that need to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to express its gratitude to Mr. Cheung for his valuable contribution and support during his tenure of office.

By Order of the Board Lai Sun Development Company Limited Kwok Siu Man Company Secretary

Hong Kong, 31 August 2012

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

Executive Directors:

Dr. Lam Kin Ngok, Peter (Chairman) and Messrs. Chew Fook Aun (Deputy Chairman) Lau Shu Yan, Julius (Chief Executive Officer), Lui Siu Tsuen, Richard and Cheung Sum, Sam;

Non-Executive Directors: Dr. Lam Kin Ming, Madam U Po Chu and Mr. Wan Yee Hwa, Edward; and

Independent Non-Executive Messrs. Lam Bing Kwan, Leung Shu Yin, William and Ip Shu Kwan, Stephen. Directors: