Munich, Germany, 04 December, 2019
Weifang, People’s Republic of China, 12 October 2011
Euro Asia Premier Real Estate Company Limited (JT9; ISIN: VGG3223A1057, ISIN: VGG3223A1131) today announced that further to its announcement made on 13 September 2011, the Board of Directors have called an EGM for the approval of the disposal of certain assets, as well as the acquisition of additional land in the Jiulongjiang Country Park. The EGM is scheduled for 11 November 2011, 2:00 pm at Jian Hong East Street Number 316, Weifang City, Shandong, Peoples’ Republic of China.
Upon approval, the proceeds of the disposals are expected to be around RMB ¥ 281 million (approx. € 32.6 million*). The acquisition of additional land in the Jiulongjiang Country Park is estimated at RMB ¥ 550 million (approx. € 63.8 million) on a non-demand with no fixed period of payment and non interest bearing basis.
Further details on the proposed transactions can be found in the Company’s H1 2011 Earnings release dated 13 September 2011.
About Euro Asia
Euro Asia is a BVI registered company, active in real estate development in the Shandong area of the People’s Republic of China. The Company operates locally through its subsidiaries, jointly owned with SNI, a leading local development company. Generating leasing revenues from a number of commercial properties, the Company has a number of other projects under development. By utilizing its strong local network to banks, political decision makers, land owners and other developers, the Company intends to grow its position in the region prior to moving into other prefecture-level cities.
* Euro 1 = RMB ¥ 9,0037
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