Kerry Properties Limited — Board/Management Information 2012

Feb 22, 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.

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(Incorporated in Bermuda with limited liability)

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website: www.kerryprops.com (Stock Code: 00683)

CHANGE OF DIRECTORS

The board of directors (the “ Board ”) of Kerry Properties Limited (the “ Company ”) announces that with effect from 22 February 2012,

• (i) Mr. Tse Kai Chi (“ Mr. Tse ”) has resigned as a Non-executive Director of the Company and as a member of the audit committee of the Company so as to allow him more time to attend to his duties as senior finance executive of Kerry Holdings Limited; and

• (ii) Mr. Bryan Pallop Gaw (“ Mr. Gaw ”) has been appointed as an Executive Director of the Company.

Mr. Tse has confirmed that he has no disagreement with the Board and that there is no matter which needs to be brought to the attention of the shareholders of the Company (the “ Shareholders ”) in respect of his resignation.

Mr. Gaw, aged 35, is the deputy general manager of Kerry Properties (H.K.) Limited. He is also a director of Kerry Logistics Network Limited since 2008. Mr. Gaw joined the Company as a senior business development manager in 2007. He started his career at Merrill Lynch in New York in 1998, working for the company’s emerging markets private equity fund as a financial analyst. Since then, he has held roles focused on strategic planning and business development at various multinational corporations. Most recently, he was with McKinsey & Company, advising companies in Southeast Asia on market strategies and operational improvements. Mr. Gaw holds a Bachelor of Arts in Political Science from Princeton University and a Master of Business Administration from Stanford’s Graduate School of Business. Mr. Gaw is the brother-in-law of Mr. Kuok Khoon Chen, the Chairman of the Company.

Save as disclosed above, Mr. Gaw has not held any directorship in other listed public companies in Hong Kong or overseas in the last three years and does not have any relationship with any other directors, senior management or substantial or controlling shareholders of the Company.

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Mr. Gaw is entitled to an annual remuneration of approximately HK$2.8 million. His emolument is determined by reference to his performance, contribution, responsibilities as well as market/sector trends. In addition, Mr. Gaw is eligible to receive a discretionary annual bonus taking into consideration factors such as market conditions as well as corporate and individual performances. There is no service contract signed between the Company and Mr. Gaw. He will hold office until the next general meeting of the Company and will be eligible for re-election at the meeting in accordance with the Bye-laws of the Company.

As at the date of this announcement, Mr. Gaw has deemed interest of 1,324,048 shares of the Company (the “ Shares ”) and 400,000 underlying Shares held under equity derivatives within the meaning of Part XV of the Securities and Futures Ordinance.

Save as disclosed above, there is no other information that needs to be disclosed pursuant to any of the requirements under Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited nor are there any other matters that need to be brought to the attention of the Shareholders in relation to the appointment of Mr. Gaw.

The Board takes this opportunity to thank Mr. Tse for his contribution and advice to the Company and to welcome Mr. Gaw to the Board.

By Order of the Board Kerry Properties Limited Li Siu Ching, Liz Company Secretary

Hong Kong, 22 February 2012

After the aforesaid change of directors, the Directors of the Company are:

Executive Directors:

Messrs. Kuok Khoon Chen, Wong Siu Kong, Ho Shut Kan, Ma Wing Kai, William, Qian Shaohua, Chan Wai Ming, William and Bryan Pallop Gaw.

Independent Non-executive Directors:

Mr. Lau Ling Fai, Herald, Mr. Ku Moon Lun and Ms. Wong Yu Pok, Marina, JP.

• For identification purpose only

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