GLOBAL LOGISTIC PROPERTIES LIMITED

(Registration No. 200715832Z) (Incorporated in Singapore on August 28, 2007)

NOTIFICATION ON AN INDIRECT SUBSIDIARY AND AN ASSOCIATED COMPANY

Global Logistic Properties Limited (the "Company") wishes to announce the following:

  1. Incorporation of an indirect subsidiary

    1. GLP Capital Holdings (Chongqing) Limited, an indirect subsidiary of the Company, has incorporated a wholly-owned subsidiary known as GLP Financial Lease (Chongqing) Co., Ltd. ("GLP Financial Lease"). Information relating to GLP Financial Lease is as follows:

      Name of company : GLP Financial Lease (Chongqing) Co., Ltd. Country of Incorporation : China

      Registered Capital : RMB500,000,000

      Principal activities : Financing and leasing business and advisory

    2. Change of interest of an indirect associated company

      1. CLH (54) Pte. Ltd., an indirect subsidiary of the Company, has acquired the remaining 50% interest in GLP-MC Tianjin Logistics Property Development Limited ("GLP-MC Tianjin") for a cash consideration of RMB35,109,552 (the "Consideration") from a joint venture partner and an unrelated company (the "Acquisition"). GLP-MC Tianjin holds 100% interest in Tianjin Puling Warehousing Service Co., Ltd.

        2. The Consideration was arrived at on a "willing-buyer, willing-seller" basis after arm's length negotiations, taking into account the book value of GLP-MC Tianjin at the time of the Acquisition and was funded by internal resources.

        As at 28 February 2017, the book value and net tangible asset value of the 50% interest in GLP- MC Tianjin was RMB32,152,565.

        Following the Acquisition, CLH (54) Pte. Ltd.'s interest in GLP-MC Tianjin has increased from 50% to 100% and GLP-MC Tianjin will become an indirect subsidiary of the Company.

        The Acquisition is not expected to have any material impact on the net tangible asset value and earnings per share of the Company for the financial year ending 31 March 2017.

        None of the directors or controlling shareholders of the Company has any interest, direct or indirect, in the above Acquisition, save for their respective interest, through their shareholdings and/or directorships, as the case may be, in the Company.

        By Order of the Board of

        GLOBAL LOGISTIC PROPERTIES LIMITED

        Fang Xie, Heather Chief Financial Officer

        20 March 2017

      Global Logistic Properties Limited published this content on 20 March 2017 and is solely responsible for the information contained herein.
      Distributed by Public, unedited and unaltered, on 20 March 2017 10:07:06 UTC.

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