The boards (the "Boards") of directors (the "Director(s)") of Magnificent Hotel Investments Limited ("MHI"), Shun Ho Property Investments Limited ("SHP") and Shun Ho Holdings Limited ("SHH") (collectively the "Companies") announce that Mr. Vincent Kwok Chi Sun ("Mr. Kwok") has tendered his resignation as an independent non-executive Director of each of the Companies with effect from 8 July 2021 due to his decision to devote more time to his other personal business and arrangement. Following Mr. Kwok's resignation as an independent non-executive Director, he has ceased to be the chairman of the audit committee (the "Audit Committee") and the remuneration committee (the "Remuneration Committee") of each of the Companies. With effect from 8 July 2021: Mr. Chan Kim Fai, an independent non-executive Director of each of the Companies, has been appointed as the chairman of the Audit Committee and the Remuneration Committee of each of the Companies in replacement of Mr. Kwok; and Mr. Lam Kwai Cheung, an independent non-executive Director of each of the Companies, has been appointed as a member of the Remuneration Committee of each of the Companies.