Voluntary Announcement – Results of Tender Offer for Purchase of 6.25% Senior Notes due 2020 (Stock Code: 4518)

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purposes only and does not constitute an invitation or offer to sell, acquire, purchase or subscribe for the securities referred to herein. This announcement is not, and is not intended to be, an offer of securities of the Company for sale, or the solicitation of an offer to buy securities of the Company, in Hong Kong, the PRC or the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction, and neither this announcement nor anything herein forms the basis for any contract or commitment whatsoever. The securities referred to herein have not been and will not be registered under the U.S. Securities Act, or any state securities laws of the United States, and may not be offered or sold within the United States, except pursuant to an exemption under, or in a transaction not subject to, the U.S. Securities Act. This announcement and the information contained herein are not for distribution, directly or indirectly, in or into the United States or to or for the benefit of U.S. persons. No public offer of the securities referred to herein is being or will be made in the United States.

瑞安建業有限公司*

SOCAM Development Limited

(Incorporated in Bermuda with limited liability)

(Stock Code: 983)

VOLUNTARY ANNOUNCEMENT

RESULTS OF TENDER OFFER FOR PURCHASE OF

6.25% SENIOR NOTES DUE 2020

(Stock Code: 4518)

Reference is made to the announcement of SOCAM Development Limited (the "Company") dated 17 May 2019 (the "Announcement") relating to the commencement of the Tender Offer. Capitalised terms used in this announcement shall have the meanings ascribed to them in the Announcement unless otherwise stated.

Results of the Tender Offer

The Company announces that the Tender Offer has expired at the Expiration Deadline, i.e. 4:00 p.m. (London Time) on 31 May 2019.

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In accordance with the terms of the Tender Offer Memorandum, the Company has decided to accept for purchase all the Notes in an aggregate principal amount of US$76.715 million validly tendered (representing approximately 27.40% of the aggregate outstanding principal amount of the Notes of US$280 million) at or prior to the Expiration Deadline at a price of US$1,000 per US$1,000 principal amount of the Notes (the "Purchase Price").

Settlement for the Tender Offer

Payment of the Purchase Price for the Notes accepted for purchase, plus the Accrued Interest thereon, in an aggregate amount of approximately US$77.141 million is expected to be made on or about 10 June 2019. The Company currently has no plan to cancel the Notes to be purchased pursuant to the Tender Offer. As such, following settlement for the Tender Offer, US$280 million in aggregate principal amount of the Notes will remain outstanding.

General

The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required to inform themselves about, and to observe, any such restrictions.

This announcement is not a tender offer memorandum, a solicitation of an offer to purchase, or a solicitation of an offer to sell, any securities. The Tender Offer has been made solely pursuant to the Tender Offer Memorandum, which sets forth a detailed description of the terms of the Tender Offer.

By order of the Board

SOCAM Development Limited

Wong Yuet Leung, Frankie

Executive Director, Chief Executive Officer and

Chief Financial Officer

Hong Kong, 3 June 2019

At the date of this announcement, the executive Directors are Mr. Lo Hong Sui, Vincent and Mr. Wong Yuet Leung, Frankie; the non-executive Director is Ms. Lo Bo Yue, Stephanie; and the independent non-executive Directors are Ms. Li Hoi Lun, Helen, Mr. Chan Kay Cheung and Mr. William Timothy Addison.

• For identification purpose only
  Website: www.socam.com

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