The Board of Directors of SOCAM Development Limited announced that Mr. William Timothy Addison has tendered his resignation as an Independent Non-executive Director (INED) of the Company with effect from 25 September 2023 as he would like to devote more time to his personal endeavours. The Board announced that Mr. Wong Hak Wood, Louis (Mr. Wong) has been appointed as an INED of the Company, which will take effect from 25 September 2023. Mr. Wong, aged 72, has over 40 years of experience in the construction and property sectors.

He joined the Shui On Group in 1981 and had been director of various major operations in its construction and construction materials divisions since 1993. He was an Executive Director of the Company between January 1997 and September 2004 and a Non-executive Director of the Company between September 2004 and June 2006. From October 2008 until his retirement in March 2011, Mr. Wong was an Executive Director of Shui On Land Limited.

During his tenure with the Shui On Group, he had also served as the Managing Director of Shui On Properties Limited and a director of Shui On Company Limited, the controlling shareholder of the Company. Mr. Wong was a member of the Chinese People's Political Consultative Conference Committee of Luwan District of Shanghai and the Vice President of the Shanghai Real Estate Trade Association. He previously served as the Vice President of The Hong Kong Association for the Advancement of Real Estate and Construction Technology Limited, a member of the Construction Industry Training Authority, the First Vice President of the Hong Kong Construction Association, a director of the Real Estate Developers Association of Hong Kong, a member of the Construction Advisory Board in Hong Kong, Chairman of the Departmental Advisory Committee for the Department of Building and Construction of the City University of Hong Kong, a member of the Provisional Construction Industry Co-ordination Board, a governing council member of the Construction Industry Institute of Hong Kong, a member of the Occupational Safety and Health Council in Hong Kong and a member of the Corruption Prevention Advisory Committee of the Independent Commission Against Corruption.

He holds a Bachelor of Science Degree in Civil Engineering from the University of Manchester. He is a Fellow of the Institution of Civil Engineers and a Member of the Hong Kong Institution of Engineers and was a Fellow of the Chartered Institute of Building. With effect from 25 September 2023, Mr. Addison will vacate his positions as a member of the Audit Committee, the Remuneration Committee, the Nomination Committee, the Finance Committee and the Investment Committee of the Board.

Mr. Wong has been appointed as a member of the said Committees effective 25 September 2023.