The Board of SOCAM Development Limited announced that on November 20, 2015, the Company entered into the consultancy agreement with Mr. de Nys (an independent non-executive Director prior to the Re-designation), pursuant to which Mr. de Nys shall act as a consultant to provide certain consultancy services to the company for an initial term of one year. The Board also announced that, with effect from November 20, 2015, Mr. de Nys has been re-designated from the role of independent non-executive Director to non-executive Director. Following the Re-designation, Mr. de Nys has stepped down as a member of the Nomination Committee with effect from 20 November 2015.

Ms. Li Hoi Lun, Helen, an independent non-executive Director, has been appointed as a member of the Nomination Committee with effect from the same date. The initial term of appointment of Mr. de Nys as a non-executive Director is two years commencing from 20 November 2015, subject to retirement by rotation at the annual general meetings of the Company in accordance with the bye-laws of the company.