SOCAM DEV (00983) Exercises Call Option to Acquire 1 SOCON Share

Stock News
2025/11/28

On August 31, 2025, Mr. Au Choy Wah (one of the buyers) ceased to be an employee of SOCON Group due to retirement. Consequently, under the sale and purchase agreement, the call option related to 1 SOCON share purchased by Mr. Au in the disposal transaction became exercisable.

On November 28, 2025, the company issued a call option notice to Mr. Au, exercising the option to acquire 1 unencumbered SOCON share held by him (the "Acquisition"). This represents 0.5% of SOCON's issued share capital at a consideration of approximately HK$9.03 million.

SOCON Group is primarily engaged in construction, renovation, and maintenance projects in Hong Kong and Macau. The Acquisition enables the company to regain ownership of Mr. Au's SOCON share interest post-employment termination, as stipulated in the sale and purchase agreement's call option terms.

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