Memorandum of Understanding

 

TIDMCMGP 
 
RNS Number : 5333S 
Commercial Group Properties PLC 
20 May 2009 
 

 
 
Commercial Group Properties PLC 
 
 
("CGP" or "the Company") 
 
 
MoU for China Gateway 
signed with UNIDO 
 
 
The Company is pleased to announce that it has signed a memorandum of 
understanding with UNIDO (The United Nations Industrial Development 
Organization) setting out the principles of a proposed joint venture of 
constructing, funding and letting out of an exhibition/conference centre at 
Manston Business Park, Manston, Kent. 
 
 
The MoU shall constitute a statement of the parties strong intention to 
negotiate in good faith on the basis of the principles set out in this MoU and 
as soon as reasonably possible for the purpose of entering into finally binding 
agreements, measures and actions necessary to successfully complete and conduct 
the project. 
 
 
The business of the Exhibition centre/Industrial Hub Building is that of a 
cultural creative industrial business hub. That expression means and is designed 
to encompass a very wide range of activities, businesses, organizations, 
cultural fora and visionary entrepreneurial concepts. The centre will, through 
representation of the various Chinese organizations described above, promote to 
a UK and EU clientele: 
 
 
  *  Chinese Business in all its myriad guises; 
  *  Chinese arts and culture; 
  *  The visionary skills of Chinese entrepreneurs; 
  *  Chinese tourism and natural beauty; 
  *  The benefits of investment into China. 
 
 
 
The centre will be managed, promoted, developed and maintained by CGP or a 
subsidiary company or a company nominated by CGP. Chinese organizations will 
have the benefit of the state of the art exhibition, conference, meeting and 
office facilities which the centre has explicitly been designed to provide. It 
is anticipated that Chinese Provinces and Cities will acquire the benefit of 
'seats' in the centre and which will entitle them to use of those seats for 
specific periods each year. 
 
 
Ends 
 
 
For further information, please contact: 
 
 
+-------------------------------------+-------------------------------------+ 
| Commercial Group Properties PLC     | [phone]                 | 
| Ken Wills                           |                                     | 
+-------------------------------------+-------------------------------------+ 
|                                     |                                     | 
+-------------------------------------+-------------------------------------+ 
| Beaumont Cornish Limited            | [phone]                | 
| Roland Cornish                      |                                     | 
+-------------------------------------+-------------------------------------+ 
|                                     |                                     | 
+-------------------------------------+-------------------------------------+ 
| Square1 Consulting Ltd              | [phone]                | 
| David Bick/Mark Longson             |                                     | 
+-------------------------------------+-------------------------------------+ 
|                                     |                                     | 
+-------------------------------------+-------------------------------------+ 
 
 
Notes for Editors: 
 
 
CGP is an AIM listed UK company (company number 05868936). CGP is the owner of 
land at China Gateway and has been in discussions with various organisations for 
the conversion of all or part of the land at China Gateway into a Chinese 
cultural and creative business hub. 
 
 
UNIDO is a charitable organisation that mobilizes knowledge, skills, information 
and technology to promote productive employment, a competitive economy and a 
sound environment. Furthermore, UNIDO enhances cooperation at global, regional, 
national and sectoral levels. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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