On 5 November 2025, the Board of Directors of Financial Street Property Co., Limited (1502) approved a new Terms of Reference for the Nomination Committee. These terms aim to bolster corporate governance by clarifying the Committee’s composition, responsibilities, and operating procedures.

Under the new provisions, the Nomination Committee will oversee the selection process and qualifications for members of the Board, the general manager, and other senior management. It is also tasked with reviewing the Board’s structure, the independence of independent non-executive directors, and maintaining a skills matrix to guide succession planning.

The document specifies that the Committee should have three directors, with a majority of independent non-executive directors and at least one director of a different gender. The chairperson of the Board or an independent non-executive director will head the Nomination Committee.

The Terms of Reference call for at least one meeting annually, where members will review potential candidates and submit recommendations to the Board. Deputations and confidentiality requirements are also included. The document takes immediate effect upon approval by more than half of the directors.