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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Canton Prop | LSE:CPIL | London | Ordinary Share | VGG182601028 | ORD NPV (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 20.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:5863H Canton Property Investment Limited 13 November 2007 Canton Property Investment Limited ("CPIL" or "the Company") Proposed Acquisition of Pearl River New City B1-1 Development Further to the disclosure in its Admission Document of August 10, 2007, the Company is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with Mr Keng Wong, Chairman of CPIL, and Ms Zhuangsong Ye to acquire a 45 per cent. interest in the Pearl River New City B1-1 Development ("the Project"). Under the MOU, CPIL will acquire the holding interest that holds a 45 per cent. interest in Guangdong San Cheng Economic Development Co., Ltd. ("San Cheng"). San Cheng is a company established in the PRC and it is engaged in the business of developing the Project. As part of the MOU, CPIL has made a payment amounting to $10 million to Mr Wong and Ms Ye which constitutes a refundable deposit for the acquisition of 45 per cent. of the Project. Due diligence and negotiations relating to the transaction are ongoing and a further announcement will be made in due course. The transaction will be a related party transaction owing to the investment Mr Wong holds in San Cheng. An MOU has also been signed to secure the remaining 55 per cent of San Cheng. The Project is currently anticipated to be a mixed-use commercial development consisting of Grade A offices, retail, hotel and service apartments. The total gross floor area ("GFA") of the Project is approximately 234,690 square metres and it is situated in the heart of the Pearl River New City, the new Central Business District of Guangzhou. For further information please contact: Canton Property Investment Limited Dennis Yau +852 2219 9669 Libertas Capital Jakob Kinde/Stephen Pickup +44 20 7569 9650 First City Financial Public Relations Allan Piper/Jiang Lei +44 20 7242 2666 This information is provided by RNS The company news service from the London Stock Exchange END MSCEAEFDFFPXFFE
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