2017E — Page 18

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EPORT OF THE DIRECTORS (CONTINUED)

ECTORS

The directors of the Company during the year ended 31 December 2017 and up to the date of this report were:

Directors

Dr. Lam Ko Yin, Colin (Chairman of the Board)

Mr. Li Ning

cutive Direct

Mr. Au Siu Kee, Alexander

Mr. Lau Yum Chuen, Eddie

Dr. the Hon. Lee Shau Kee

Mr. Wong Man Kong, Peter

nl Non

Mr. Ho Hau Chong, Norman

Mr. Leung Hay Man

Ms. Wong Yu Pok, Marina

Mr. Wu King Cheong

A list of the names of the Directors of the Group's subsidiaries is available on the website of the Company (www.hkf.com).

In accordance with Article 103(A) of articles of association

of the Company (the "Articles of Association") and Corporate

Governance Code (the "Code") as set out in Appendix 14 to the

Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"), Dr. Lam Ko Yin, Colin, Dr. Lee Shau Kee, Mr. Ho Hau Chong, Norman and Mr. Wu King Cheong shall retire by rotation at the 2018 annual general meeting, and, being eligible, offer themselves for re-election. Mr. Ho Hau Chong, Norman and Mr. Wu King Cheong have served as Independent Non-executive Directors of the Company for more than nine years. Pursuant to the Code, their re-elections shall be subject to two separate resolutions to be approved by the shareholders at the 2018 annual general meeting.

The Company has received from each Independent

Non-executive Director an annual confirmation of his/her independence pursuant to Rule 3.13 of the Listing Rules and the Company considered all of them to be independent.

BIOGRAPHICAL DETAILS OF DIRECTORS AND SENIOR MANAGEMENT

Biographical details, of Directors and Senior Management are set out in the Directors' and Senior Management's Profile on pages 3 to 8 of this Annual Report.

DIRECTORS' AND CHIEF EXECUTIVE'S EMOLUMENTS

Details of Directors' and Chief Executive's emoluments are set out

in note 8 to the financial statements.

DIRECTORS' INTERESTS IN TRANSACTIONS, ARRANGEMENTS OR CONTRACTS

Except for the "Connected Transactions" as disclosed in this report, no other transaction, arrangement or contract of significance to which the Company, or any of its holding company, subsidiaries or fellow subsidiaries was a party, and in which a director of the Company had a material interest, subsisted at the end of the year or at any time during the year.

DIRECTORS' SERVICE CONTRACTS

None of the directors proposed for re-election at the 2018 annual general meeting has a service contract with the Company which is not determinable by the Company or any of its subsidiaries within one year without payment other than

statutory compensation.

PERMITTED INDEMNITY PROVISION

According to the Articles of Association, every Director or other

officer of the Company shall be entitled to be indemnified out

of the assets of the Company against all losses or liabilities to the fullest extent permitted by the Companies Ordinance, Chapter 622 of the Laws of Hong Kong which he may sustain or incur in or about the execution of the duties of his office or otherwise in relation thereto. The Company has arranged appropriate directors' and officers' liability insurance coverage for the Directors and officers of the Group.

Hong Kong Ferry (Holdings) Company Limited Annual Report 2017