IRC Limited — Board/Management Information 2018

Jul 27, 2018

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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(Stock Code: 488)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board is pleased to announce that Mr. Leung Wang Ching, Clarence, has been appointed an independent non-executive director of the Company with effect from 1 August 2018.

The Board of Directors (“ Board ”) of Lai Sun Development Company Limited (“ Company ”) is pleased to announce that Mr. Leung Wang Ching, Clarence (“ Mr. Leung ”) has been appointed an independent non-executive director of the Company with effect from 1 August 2018.

Mr. Leung, aged 39, graduated from the University of Cambridge in the United Kingdom with a Bachelor of Arts degree and a Master of Arts degree in Economics in June 1999 and March 2003, respectively. Mr. Leung has approximately 18 years of experience in the textile and apparel industry. He is a director of Sun Hing Knitting Factory Limited and an independent non-executive director of Hingtex Holdings Limited, a company listed on the Main Board of The Stock Exchange of Hong Kong Limited.

Mr. Leung participates in several government committees of the Hong Kong Special Administrative Region (“ HKSAR ”). He is member of the Legal Aid Services Council, the Commission on Poverty, the Tourism Strategy Group, the Hong Kong Tourism Board, the Youth Development Commission and board member of the Vocational Training Council. He also served as member of the Town Planning Board, Textiles Advisory Board, the HKSAR SME Committee, the Trade and Industry Advisory Board and non-full-time member of the Central Policy Unit.

Mr. Leung does not have a service contract with the Company and is due to retire at the next annual general meeting of the Company for re-election thereat. He will then be subject to retirement by rotation once every three years and will be eligible for re-election at future annual general meetings of the Company, in accordance with the provision of the Articles of Association of the Company. Mr. Leung is entitled to a director’s fee of HK$300,000 per annum.

Mr. Leung does not have any relationship with any director, senior management, substantial or controlling shareholders of the Company. He does not have any interests in the listed securities of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

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Save as disclosed above, there are no other matters relating to the appointment of Mr. Leung that need to be brought to the attention of the shareholders of the Company and there is no information that needs to be disclosed pursuant to the requirements of Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Boards extends its warm welcome to Mr. Leung.

By Order of the Board Lai Sun Development Company Limited Chow Kwok Wor Company Secretary

Hong Kong, 27 July 2018

As at the date of this announcement, the Board of Directors of the Company 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) and Lam Hau Yin, Lester;

Non-Executive Directors: Dr. Lam Kin Ming and Madam U Po Chu; and

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

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