SOCAM Development Limited (stock code: 983) has exercised its call option to acquire one share of Shui On Contractors Limited (SOCON) for approximately HK$9.03 million. The share, purchased from a retiring director of certain SOCON subsidiaries, represents 0.5% of SOCON’s issued share capital. SOCAM Development Limited’s ownership in SOCON will increase from 94.25% to 94.75% upon completion.

According to the announcement, the purchase price is determined by SOCON’s adjusted pro-forma consolidated net asset value as of 31 October 2025. The consideration will be settled in cash on or before 31 March 2026, funded by internal resources. The call option originated from a 2017 disposal agreement, under which employees acquired shares of SOCON and granted SOCAM Development Limited the right to repurchase those shares upon specified events, including cessation of employment.

SOCON principally engages in construction, fitting-out, and maintenance works in Hong Kong and Macau. Its unaudited pro-forma consolidated net asset value stood at approximately HK$1,823 million as of 31 December 2024. The group’s unaudited pro-forma consolidated net profits before taxation for 2023 and 2024 were HK$412 million and HK$211 million respectively, while net profits after taxation reached HK$339 million and HK$182 million. The transaction qualifies as both a discloseable and connected transaction under the Hong Kong Listing Rules, requiring reporting and announcement but exempt from circular and independent shareholders’ approval requirements.