Kowloon Development Company Limited announced the retirement of Mr. Seto Gin Chung, John as an Independent Non-executive Director of the Company with effect from the conclusion of the forthcoming Annual General Meeting of the Company to be held on 8 June 2022 (the "2022 AGM"). Upon Mr. Seto's retirement, he will cease to be the chairman of the Remuneration Committee of the Company and a member of the Audit Committee of the Company.
Mr Seto has been an Independent Non-executive Director of the Company since 2002. Mr. Seto has decided not to present himself for re-election as a Director of the Company at the 2022 AGM when he is due to retire by rotation.