The Board of Directors of SOCAM Development Limited announced that, to pursue her personal interests after serving on the Board for 15 years, Ms. Li Hoi Lun, Helen ("Ms. Helen Li"), an Independent Non-executive Director of the
Company, will not stand for re-appointment upon expiration of her existing service contract with the Company on 27 August 2023. Accordingly, Ms. Helen Li will step down from the Board as well as from its Audit Committee, Remuneration Committee, Nomination Committee, Finance Committee and Investment Committee with effect from 28 August 2023. To fill the vacancy of chairmanship in the Remuneration Committee arising from the stepping
down of Ms. Helen Li, Mr. Lau Ping Cheung, Kaizer, an Independent Non-executive Director of the Company and an existing member of the Remuneration Committee, has been appointed as the Chairman of the Remuneration Committee with effect from 28 August 2023.