Li & Fung Limited announced an Independent Board Committee, which comprises the following non-executive Directors: Ms. Margaret Leung Ko May Yee (chair of the Independent Board Committee), Mr. Allan Wong Chi Yun, Mr. Martin Tang Yue Nien, Mr. Chih Tin Cheung and Mr. John G. Rice, has been established by the Board to make a recommendation to the Disinterested Shareholders as to whether (i) the Proposal, and in particular the Scheme and the Founder Arrangement, is fair and reasonable; and (ii) to vote in favour of the Founder Arrangement at the SGM and the Scheme at the Court Meeting.