The Board of Directors of the Company refers to the announcement dated 28 November 2017 in relation to the proposed disposal of interests in the Ying Li International Commercial Centre Project. (&ldquo Announcement&rdquo ) and update announcement issued by the Company on 7 December 2017 in relation to the Proposed Disposal. Unless otherwise defined herein, capitalised terms used in this announcement shall have the meanings ascribed to them in the Announcement. 

 

The Board would like to further update shareholders that the Proposed Disposal has been completed and accordingly, Shiny Profit Enterprises Limited has ceased to be a subsidiary of the Company. The Company is following up closely with the Purchaser on the payment of the Aggregate Consideration in accordance with the terms of the SPA. 

 

The Board will seek the ratification of the Shareholders for the Proposed Disposal and Transfer of Land Parcel at the upcoming annual general meeting of shareholders to be convened (&ldquo AGM&rdquo ) and an appendix to the annual report to Shareholders setting out further information on the above transactions, together with the notice of the AGM to be convened, will be despatched to Shareholders in due course. 

 

BY ORDER OF THE BOARD 

Ying Li International Real Estate Limited 

Fang Ming 

Executive Chairman and Group CEO 

 

1 March 2018