SOCAM Development Enters New Property Management Agreement

SOCAM Development (HK:0983) has released an update.

SOCAM Development Limited has entered a new three-year property management services agreement through its subsidiary PEPM, which will continue to provide services to SOCPML from January 2025 to December 2027. This arrangement, involving annual service fees based on management expenses, is classified as a continuing connected transaction under Hong Kong’s Listing Rules. While the transaction exceeds HK$3 million, it does not require independent shareholder approval due to specific exemption criteria.

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