China Merchants property Dong Li Industrial acquisition case added three items

Last night, Dong Li Industrial Holdings Co., Ltd. announced a supplementary agreement with the wholly owned subsidiary of China Merchants Real Estate Co., Ltd. to acquire a Richa in 11 domestic real estate projects at the cost of HK $6.688 billion. The acquisition will make East power industry into the first overseas listing business platform. Dong-Li Industrial will be authorized to issue 3,836,789,000 new shares through special shareholders ' meeting, which can be used to pay the transaction price and keep the public holding rate not less than 25%. The purchase price will be no less than HK $1.743 per share of the issue of the issuance of no more than 2,897,028,703 shares of the IPO way to pay. In addition, the company will be placing a stake of not less than 939,760,297 shares at the IPO price. The allotment proceeds will be used to cover the balance of the acquisition costs and the remainder will be retained for operating capital and other general business purposes. When the issue price is HK $1.743 per share, all 939,760,297 shares will be paid for the purchase price in addition to the 2,897,028,703 shares issued to the company, and when the offer is between HK $1.743-2.309 per share, in addition to the issuance of 2 to Rui Ka, 897,028,703 shares of the price, the placing of 939,760,297 shares will be used to cover the cost of the purchase, the remainder will be left to the company, when the IPO price is more than HK $2.309 per share, the company will issue less than 2,897,028,703 shares for the price, The total number of shares plus 939,760,297 shares will be allocated to the company. Dong Li Industry announced in April 2013 with Richa and Merchants Real Estate agreement, the acquisition of Richa in Guangzhou, Chongqing, Foshan and Nanjing held eight property rights and interests of four enterprises, and the target company has not repaid and owed Richa all shareholder loans. Under the supplemental agreement signed today, the acquisition will include three new projects. The three new projects are located in Foshan Shunde 1872 and the plaza, as well as in Chongqing's Evian Jiangwan, three projects total construction area of 914,304 square meters, sales area of 765,098 square meters. As of July 31, 2013, the total capital value of Richa in three projects was about RMB 1,451,560,000. Pending the completion of the relevant acquisition, China Merchants Real estate and China Merchants Group Co., Ltd. will continue to be the controlling shareholder of Dong Li Industrial. China Merchants Group is the ultimate controlling shareholder of China Merchants Real estate. "The company is committed to becoming a property holding company with comprehensive capabilities in real estate development, management and management," said Mr He Jianya, chairman of Dong Li Industry. The acquisition gives the company a solid platform to build a strong foothold in the mainland's real estate industry. "He Jianya added:" Previously announced eight target projects are relatively mature, and can provide a significant cash return, and three new acquisitions to hold for future development. We believe that a balanced portfolio allows us to maintain a stableand support the company's continued growth. "To reflect the company's acquisition and focus on the development, sale, leasing, investment and management of real estate new strategy, and to refresh its corporate image, the company was held on July 2, 2013 at the extraordinary general Meeting of shareholders by the change of company name" Chinamerchantslandlimited Investment Co., Ltd. Under the stock Exchange listing rules of Hong Kong the acquisition constitutes a very significant acquisition of Dong Li Industrial. Dong-li industry needs to make a new listing application for the acquisition, and it needs to be approved by independent shareholders at the special general Meeting. The company will send the updated and revised circulars to its shareholders.