AI assistant
DIT Group Limited — Capital/Financing Update 2017
Oct 11, 2017
49427_rns_2017-10-11_6c0ea570-e6c3-49b4-abbc-00976fc38ea6.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
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.
==> picture [97 x 60] intentionally omitted <==
China Minsheng Drawin Technology Group Limited 中民築友科技集團有限公司 (Incorporated in Bermuda with limited liability) (Stock Code: 726)
VOLUNTARY ANNOUNCEMENT ACQUISITION OF LAND
China Minsheng Drawin Technology Group Limited (the “ Company ”) is pleased to announce that in late September 2017, Yuxi China Minsheng Drawin Technology Company Limited* (玉溪中民築友科技有限公司), a company with limited liability established in the People’s Republic of China (the “ PRC ”) and an indirect wholly owned subsidiary of the Company, entered into a land transfer contract with the State Land Resources Bureau of Yuxi City, Jiangchuan Branch* (玉溪市國土資源局江川分局) for the acquisition of land use rights of one land parcel (the “ Land Parcel ”) in Yuxi City for a total consideration of RMB34,900,000 (the “ Consideration ”) payable by 26 October 2017. The Land Parcel was provided for public auction by the State Land Resources Bureau of Yuxi City, Jiangchuan Branch* (玉溪市國 土資源局江川分局) and was acquired following a successful public tender by Yuxi China Minsheng Drawin Technology Company Limited*.
The Land Parcel is situated at Jiangchuan Longquan Industrial Park, Yuxi City, Yunnan Province, the PRC. The total site area of the Land Parcel is approximately 73,898 sq.m. The Land Parcel is designated for developing a project titled Yuxi China Minsheng Drawin Green Construction Technology Park* (玉溪中民築友綠色建築科技園) which involves the research and development, design, production and sales of intelligent and green building construction technology and modules for prefabricated construction. The term for the industrial land usage is 50 years commencing from the date of land transfer, which will be a date on or before 30 November 2017. The Consideration will be funded by internal resources of the Company and its subsidiaries (the “ Group ”).
– 1 –
In view of the location and the designated use of the Land Parcel, the directors of the Company consider that the acquisition of the Land Parcel is in line with the business development strategy and plan of the Group. The directors of the Company further consider that the acquisition is carried out in the ordinary course of business.
This announcement is made by the Company on a voluntary basis.
By order of the Board of China Minsheng Drawin Technology Group Limited Yin Jun Chairman and Executive Director
Hong Kong, 11 October 2017
As at the date of this announcement, the Board comprises Mr. Yin Jun (Chairman), Mr. Chen Domingo and Mr. Mi Hongjun as executive directors; Mr. Chen Donghui, Ms. Gan Ping and Mr. Zhao Xiaodong as non-executive directors; Mr. Chan Chi Hung, Mr. Jiang Hongqing, Mr. Lee Chi Ming, and Mr. Ma Lishan as independent non-executive directors.
- For identification purpose only
– 2 –