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RemeGen Co., Ltd. — Capital/Financing Update 2014
Oct 16, 2014
51206_rns_2014-10-16_05970e03-c175-4bd3-98f2-00d7d346e190.pdf
Capital/Financing Update
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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.
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Overseas Chinese Town (Asia) Holdings Limited 華僑城(亞洲)控股有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 03366)
FURTHER DEVELOPMENT IN RELATION TO POSSIBLE VERY SUBSTANTIAL ACQUISITION – ENTERING INTO OF THE FORMAL AGREEMENT
The Board is pleased to announce that on 16 October 2014, Chengdu OCT, a non-wholly owned subsidiary of the Company, entered into the Formal Agreement with Chengdu Jinniu Government and Xinjin Nongfa Investments.
Reference is made to the announcement of the Company dated 3 June 2014, the circular of the Company dated 24 June 2014 (the “ Circular ”) and the announcement dated 22 July 2014. Unless otherwise stated, capitalised terms used herein shall have the same meanings as those defined in the Circular.
The Board is pleased to announce that on 16 October 2014, Chengdu OCT, a non-wholly owned subsidiary of the Company, entered into a formal agreement for the Possible Cooperation with Chengdu Jinniu Government and Xinjin Nongfa Investments (the “ Formal Agreement ”), the material terms of which are substantially the same as those of the Agreement of Intent. The Formal Agreement also provides for the following:–
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within 3 business days upon the signing of the Formal Agreement, Chengdu OCT shall pay to Xinjin Nongfa Investments an earnest money of RMB300 million which will be transferred to the JV Company as a shareholders’ loan provided by Chengdu OCT to the JV Company upon its establishment.
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within 3 business days upon the establishment of the JV Company, a guarantee shall be executed pursuant to which Xinjin Nongfa Investment shall provide guarantee as to 20% of any shareholders’ loan to be provided by Chengdu OCT to the JV Company and interest accrued.
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- the annual rate of investment return to be paid by the Chengdu Jinniu Government to the JV Company is 12%.
By order of the Board Overseas Chinese Town (Asia) Holdings Limited Wang Xiao Wen Chairman
Hong Kong, 16 October 2014
As at the date of this announcement, the Board comprises seven Directors, namely: Ms. Wang Xiaowen, Ms. Xie Mei and Mr. Yang Jie as executive Directors; Mr. Zhou Ping as non-executive Director; Mr. Lu Gong, Ms. Wong Wai Ling and Professor Lam Sing Kwong Simon as independent non-executive Directors.
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