Wang On Group Limited (WOG, Stock Code: 1222) and Wang On Properties Limited (WOP, Stock Code: 1243) jointly announced the completion of a subscription for a key man insurance policy on 4 November 2025. The policy was placed under Twist Pioneer Limited, an indirect wholly owned subsidiary of WOP, acting as both policyholder and beneficiary, with Manulife (International) Limited (Manulife).

Twist Pioneer provided an initial single premium totaling approximately US$4.85 million (equivalent to around HK$37.73 million). Part of this premium, approximately US$1.35 million (HK$10.50 million), was paid in cash, while the remaining balance was financed through a loan at an annual interest rate of 3.5%. The policy covers the life of Mr. Tang, aged 38, with a total notional subscription amount of approximately US$28.82 million (HK$224.20 million). Under the arrangement, if Mr. Tang passes away before age 65, the policy will pay 100% of the total notional subscription amount plus any terminal bonus.

The boards of WOG and WOP indicated that the policy may benefit the WOP Group’s refinancing and negotiation efforts for future bank facilities and is expected to generate a positive return after the fourth year. Since the highest relevant percentage ratio exceeds 5% but is less than 25% for each company, the subscription constitutes a discloseable transaction under Rule 14.07 of the Listing Rules and is subject to the reporting and announcement requirements under Chapter 14. Both companies consider the terms of the policy to be fair and reasonable and in the best interests of their shareholders.