The Board of Directors of SOCAM Development Limited announced that with effect from July 1, 2013, Mr. Wong Kun To, Philip will step down as the Managing Director and Chief Executive Officer of the company and will be re-designated from the role of Executive Director to Non-executive Director of the company. Mr. Philip Wong was appointed as an Executive Director of the company in July 2009 and has been the Chief Executive Officer and Managing Director of the company since April 2010 and March 2011, respectively. He is also the Chairman of the Finance Committee and a member of the Nomination Committee, the Investment Committee and the Executive Committee of the Board.

The Board announced that Mr. Choi Yuk Keung, Lawrence and Mr. Wong Fook Lam, Raymond, Executive Directors of the company, have been appointed as Managing Directors of the company, in addition to their existing roles of Vice Chairman and Chief Financial Officer respectively. The appointments will take effect from July 1, 2013.