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HUTCHISON TELECOMMUNICATIONS HONG KONG HOLDINGS LIMITED

(215)
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Hutchison Telecommunications Hong Kong : CHANGE OF INDEPENDENT NON-EXECUTIVE DIRECTOR

12/10/2019 | 05:56am EDT

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.

Hutchison Telecommunications Hong Kong Holdings Limited

和記電訊香港控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 215)

CHANGE OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board of the Company announces that with effect from 31 December 2019:

  1. Mr Cheong Ying Chew, Henry will resign as Independent Non-executive Director of the Company, as well as Chairman of the Audit Committee and member of the Remuneration Committee and the Nomination Committee of the Company;
  2. Mr Cheong will concurrently cease acting as Alternate Director to Dr Wong Yick Ming, Rosanna, Independent Non-executive Director of the Company; and
  3. Mr Ip Yuk Keung will be appointed as Independent Non-executive Director of the Company, as well as Chairman of the Audit Committee and member of the Remuneration Committee and the Nomination Committee of the Company.

The board of directors (the "Board") of Hutchison Telecommunications Hong Kong Holdings Limited (the "Company") announces that with effect from 31 December 2019:

  1. Mr Cheong Ying Chew, Henry ("Mr Cheong") will resign as Independent Non-executive Director of the Company, as well as Chairman of the Audit Committee and member of the Remuneration Committee and the Nomination Committee of the Company to devote more time to his other commitments;
  2. Mr Cheong will concurrently cease acting as Alternate Director to Dr Wong Yick Ming, Rosanna, Independent Non-executive Director of the Company; and
  3. Mr Ip Yuk Keung ("Mr Ip") will be appointed as Independent Non-executive Director of the Company, as well as Chairman of the Audit Committee and member of the Remuneration Committee and the Nomination Committee of the Company.

Mr Cheong has confirmed that he has no disagreement with the Board and he is not aware of any matters relating to his resignation that need to be brought to the attention of the shareholders of the Company. The Board would like to express its sincere gratitude to Mr Cheong for his valuable contribution to the Company during his tenure with the Company.

1

Set out below is the biographical profile of Mr Ip:

Mr Ip Yuk Keung

Mr Ip, aged 67, is an international banking and finance professional with over 30 years of experience in the United States, Asia and Hong Kong. He was formerly Managing Director of Citigroup and Managing Director of Investments of Merrill Lynch (Asia Pacific). Mr Ip is currently a non-executive director of Eagle Asset Management (CP) Limited (as manager of Champion Real Estate Investment Trust), and an independent non-executive director of Power Assets Holdings Limited, TOM Group Limited, Lifestyle International Holdings Limited and New World Development Company Limited. He was previously an executive director and the chief executive officer of LHIL Manager Limited (as trustee-manager of Langham Hospitality Investments) and Langham Hospitality Investments Limited, and an independent non-executive director of Hopewell Highway Infrastructure Limited (now known as Shenzhen Investment Holdings Bay Area Development Company Limited) and Hopewell Holdings Limited (which has withdrawn its listing from the Main Board of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") on 3 May 2019). All companies mentioned above except for Eagle Asset Management (CP) Limited, LHIL Manager Limited and Hopewell Holdings Limited are listed companies, and Champion Real Estate Investment Trust is a listed real estate investment trust.

Mr Ip is an Adjunct Professor of and an advisor to various universities in Hong Kong and Macau. He is an Honorary Fellow of Vocational Training Council, a Council Member of The Hong Kong University of Science and Technology ("HKUST"), a Trustee of the Board of Trustees of Washington University in St. Louis, a Beta Gamma Sigma Honoree at City University of Hong Kong and HKUST, and a Member of the Committee on Certification for Principalship (CCFP) of the Education Bureau of Hong Kong. Mr Ip holds a Bachelor of Science degree in Applied Mathematics and Computer Science, a Master of Science degree in Applied Mathematics and a Master of Science degree in Accounting and Finance. He is the Vice-chairman of World Green Organisation Limited.

Save as disclosed above, Mr Ip has not held any directorship in any other publicly listed companies, whether in Hong Kong or overseas, during the past three years; and he does not have any relationship with any other Directors, senior management, substantial or controlling shareholders of the Company. As at the date hereof, Mr Ip does not have any interests in the issued shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

The initial term of Mr Ip's service as Independent Non-executive Director of the Company shall end on 31 December 2020; such appointment being automatically renewed for successive 12-month periods, subject to retirement by rotation and re-election at the forthcoming general meeting of the Company in accordance with the provisions of the Articles of Association of the Company. The director's fees of Mr Ip as an Independent Non-executive Director, Chairman of the Audit Committee and a member of the Remuneration Committee of the Company under his appointment letter are HK$70,000, HK$70,000 and HK$20,000 per annum respectively. Such fees are subject to review from time to time and proration for any incomplete year of service.

Save as disclosed above, there are no other matters concerning the appointment of Mr Ip that need to be brought to the attention of the shareholders of the Company nor is there other information that is required to be disclosed pursuant to the requirements of Rule 13.51(2) of the Rules Governing the Listing of Securities on the Stock Exchange.

2

The Board would like to extend a warm welcome to Mr Ip on his appointment.

By Order of the Board

Edith SHIH

Non-executive Director and Company Secretary

Hong Kong, 10 December 2019

As at the date of this announcement, the Directors of the Company are:

Chairman and Non-executive Director:

Non-executive Directors:

Mr FOK Kin Ning, Canning

Mr LAI Kai Ming, Dominic

(also Alternate to Mr FOK Kin Ning, Canning

Co-Deputy Chairmen and Non-executive

and Ms Edith SHIH)

Directors:

Ms Edith SHIH

Mr LUI Dennis Pok Man

Mr MA Lai Chee, Gerald

Mr WOO Chiu Man, Cliff

(Alternate to Mr LAI Kai Ming, Dominic)

Executive Director:

Independent Non-executive Directors:

Mr KOO Sing Fai

Mr CHEONG Ying Chew, Henry

(also Alternate to

Dr WONG Yick Ming, Rosanna)

Dr LAN Hong Tsung, David

Dr WONG Yick Ming, Rosanna

3

Disclaimer

Hutchison Telecommunications Hong Kong Holdings Ltd. published this content on 10 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 December 2019 10:55:06 UTC


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Net income 2021 226 M 29,1 M 29,1 M
Net cash 2021 4 012 M 516 M 516 M
P/E ratio 2021 27,4x
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Hutchison Telecommunications Hong Kong Holdings Limited Technical Analysis Chart | 215 | KYG4672G1064 | MarketScreener
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Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 1,20 HKD
Average target price 1,63 HKD
Spread / Average Target 35,8%
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Managers and Directors
Sing Fai Koo Chief Executive Officer & Executive Director
Wai Sin Cheng Chief Financial Officer
Kin Ning Fok Chairman
Yiu Man Chung Chief Technology Officer
Yuen Chun Tan Chief Operating Officer