SOCAM development ceases discussion with possible potential purchaser

SOCAM development ceases discussion with possible potential purchaser

RESUMPTION OF TRADING 
in the Shares on the Stock Exchange was halted with effect from 1:00 p.m. on Wednesday, 30 July 2014 at the request of the Company pending the publication of this announcement.

An application has been made by the Company for resumption of trading in the Shares on the Stock Exchange with effect from 9:00 a.m. on Thursday, 31 July 2014.
Shareholders and potential investors are therefore advised to exercise caution when dealing in the Shares.

CESSATION OF DISCUSSION WITH THE POTENTIAL PURCHASER

Shareholders and potential investors are to be notified by SOCAM, that no agreement can be reached with the Potential Purchaser on the terms of the Proposed Disposal and SOC has discontinued its discussion with the Potential Purchaser in respect of the Proposed Disposal .
For the purpose of the Takeovers Code, the offer period in respect of the Possible Offer is deemed to have closed on the date of this announcement.
  The Possible Offer has led to some delay to the disposal of the Group’s property projects and inventories. Following the closure of the Possible Offer, the Company will resume implementation of its assets monetisation plan to unlock value for Shareholders.

SOCAM developement Ltd is currently in active discussion with Lafarge S.A. to pursue various exit options for the Group’s investment in Lafarge Shui On Cement Limited amid the impending merger of its joint venture partner with Holcim Limited.

SEHK.H0983

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