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瑞安建業有限公司*
SOCAM Development Limited
(Incorporated in Bermuda with limited liability)
(Stock Code: 983)
APPOINTMENT OF NON-EXECUTIVE DIRECTOR
The Board of Directors (the "Board") of SOCAM Development Limited (the "Company") is pleased to announce that Ms. Lo Bo Yue, Stephanie ("Ms. Lo") has been appointed as a Non-executive Director of the Company, which will take effect on 1 January 2019.
Ms. Lo, aged 36, is currently an Executive Director of Shui On Land Limited ("SOL"), a company listed in Hong Kong. She is also an Executive Director of Shui On Management Limited and the Vice Chairman of China Xintiandi Holding Company Limited, both being subsidiaries of SOL. She joined the Shui On Group in August 2012 and has over 14 years of working experience in property development industry in the Chinese Mainland, architecture and interior design as well as other art enterprises. Prior to joining the Shui On Group, Ms. Lo was working for various architecture and design firms in New York City, amongst which was Studio Sofield, a firm well-known for its capability in retail design. She holds a Bachelor of Arts degree in architecture from Wellesley College in Massachusetts. She currently serves as a Member of The Thirteenth Shanghai Committee of Chinese People's Political Consultative Conference and The Seventh Council Member of Shanghai Chinese Overseas Friendship Association. Save as disclosed above, Ms. Lo has not held any directorship in any other listed companies in the past three years.
Ms. Lo is the daughter of Mr. Lo Hong Sui, Vincent ("Mr. Lo"), the Chairman of the Company, and a Director of Shui On Company Limited ("SOCL"), the controlling shareholder of the Company. Save as disclosed herein, Ms. Lo does not have any relationship with any Directors, senior management or substantial or controlling shareholders of the Company, nor does she hold any position in the Company or any of its subsidiaries.
At the date of this announcement, Ms. Lo is deemed to be interested in 234,381,000 shares of the Company, which are owned directly or indirectly by SOCL, within the meaning of Part XV of the Securities and Futures Ordinance. SOCL is held under the Bosrich Unit Trust, the units of which are the property of a discretionary trust, of which Mr. Lo is the founder and both he and Ms. Lo are discretionary beneficiaries. Save as disclosed above, Ms. Lo is not interested in any securities of the Company.
The initial term of appointment of Ms. Lo as a Non-executive Director of the Company is two years commencing from 1 January 2019, subject to the relevant provisions of retirement and re-election at the annual general meetings of the Company in accordance with its Bye-laws and other applicable laws, rules and regulations. Her emoluments are determined by the Board, based on her contributions to the Board and the market level of Directors' fees. Pursuant to the terms of her service contract with the Company, she is entitled to receive an annual fee of HK$250,000 for her Board membership, subject to annual review by the Board.
Save as disclosed herein, there is no matter in relation to the appointment of Ms. Lo that needs to be brought to the attention of the shareholders of the Company, nor is there any information required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The Board takes this opportunity to welcome Ms. Lo to join the Board.
By Order of the Board SOCAM Development Limited
Lo Hong Sui, Vincent
Chairman
Hong Kong, 31 December 2018
At the date of this announcement, the Executive Directors of the Company are Mr. Lo Hong Sui, Vincent and Mr. Wong Yuet, Leung, Frankie; and the Independent Non-executive Directors of the Company are Ms. Li Hoi Lun, Helen, Mr. Chan Kay Cheung and Mr. William Timothy Addison.
* For identification purpose only
Website:www.socam.com