SOCAM DEV (00983) exercises its subscription rights to acquire 1 share of SOCON.

SOCAM DEV (00983) announced that on August 31, 2025, Mr. Qu Caihua (one of the buyers) retired and ceased to be an employee of the SOCON Group. As per the sales agreement, the call option (i.e. call option) related to the 1 share of SOCON stock purchased by Mr. Qu Caihua in the sale transaction is now exercisable. On November 28, 2025, the company issued a call option notice to Mr. Qu Caihua, exercising the call option to acquire 1 share of SOCON stock from Mr. Qu Caihua (free from any encumbrance) (i.e. acquisition), representing 0.5% of the issued share capital of SOCON, at a price of approximately HK$9.03 million. SOCON Group is mainly engaged in construction, decoration, and maintenance projects in Hong Kong and Macau, China. The acquisition allows the company to restore Mr. Qu Caihua's ownership rights of the SOCON shares he holds after his employment termination in accordance with the call option terms set out in the sales agreement.