GLOBAL LOGISTIC PROPERTIES LIMITED

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

NOTIFICATION ON INDIRECT SUBSIDIARIES AND AN INDIRECT ASSOCIATED COMPANY

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

  1. Incorporation of indirect subsidiaries and an indirect associated company

    1. Name of company : Zhuhai Puwu Logistic Development Co., Ltd. Country of Incorporation : China

      Registered Capital : RMB100,000,000

      Principal activities : Operation and management of logistic facilities

    2. Name of company : Zhuhai Puzhong Logistic Development Co., Ltd. Country of Incorporation : China

      Registered Capital : RMB100,000,000

      Principal activities : Operation and management of logistic facilities

    3. Name of company : Huyi Supply Chain Management (Shanghai) Co., Ltd. Country of Incorporation : China

      Registered Capital : RMB10,000,000

      Principal activities : Provision of supply chain management services and

      transportation agency

    4. Acquisition of new indirect subsidiaries

      1. CLH 81 (HK) Limited, an indirect subsidiary of the Company, has acquired a wholly-owned subsidiary known as Shanghai Zhuorui Packing Co., Ltd. ("Shanghai Zhuorui") for a consideration of RMB113,000,000 (the "Consideration"). Information relating to Shanghai Zhuorui is as follows:

        Name of company : Shanghai Zhuorui Packing Co., Ltd. Country of Incorporation : China

        Registered Capital : RMB60,000,000

        Principal activities : Provision of distribution facilities and services

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

        As at 31 August 2017, the book value and net tangible asset value of Shanghai Zhuorui was RMB30,008,478. The book value is based on People's Republic of China's Accounting Standards for Business Enterprises where the properties are stated at historical depreciated cost.

        Following the acquisition, Shanghai Zhuorui 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 2018.

      2. GLP HK Holdings Limited, an indirect subsidiary of the Company, has acquired a wholly-owned subsidiary known as Ever Gain Dongguan Investments Limited ("Ever Gain Dongguan") for a consideration of RMB290,584,000 (the "Consideration"). Ever Gain Dongguan holds 100% interest in Dongguan Ever Profit Logistics Co., Ltd. ("Dongguan Ever Profit"). Information relating to Ever Gain Dongguan and Dongguan Ever Profit are as follows:

        Name of company : Ever Gain Dongguan Investments Limited Country of Incorporation : Hong Kong

        Paid-up Capital : HKD1 Principal activities : Investment Holding

        Name of company : Dongguan Ever Profit Logistics Co., Ltd. Country of Incorporation : China

        Registered Capital : RMB257,390,000

        Principal activities : Provision of distribution facilities and services

        The Consideration was arrived at on a "willing-buyer willing-seller" basis after arm's length negotiations, taking into account the book value of Ever Gain Dongguan at the time of the acquisition and was funded by internal resources.

        As at 31 July 2017, the consolidated book value and net tangible asset value of Ever Gain Dongguan was RMB155,137,006. The book value is based on People's Republic of China's Accounting Standards for Business Enterprises where the properties are stated at historical depreciated cost.

        Following the acquisition, each Ever Gain Dongguan and Dongguan Ever Profit will become indirect subsidiaries 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 2018.

      3. Hangzhou Tianyu Management Consulting Co., Ltd., an indirect subsidiary of the Company, has acquired a wholly-owned subsidiary known as Mengxi Fastener (Kunshan) Co., Ltd. ("Mengxi Fastener") for a consideration of RMB66,069,000 (the "Consideration"). Information relating to Mengxi Fastener is as follows:

        4. Name of company : Mengxi Fastener (Kunshan) Co., Ltd. Country of Incorporation : China

        Registered Capital : RMB84,800,000

        Principal activities : Provision of distribution facilities and services

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

        As at 30 June 2017, the book value and net tangible asset value of Mengxi Fastener was RMB19,421,140. The book value is based on People's Republic of China's Accounting Standards for Business Enterprises where the properties are stated at historical depreciated cost.

        Following the acquisition, Mengxi Fastener 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 2018.

        By Order of the Board of

        GLOBAL LOGISTIC PROPERTIES LIMITED

        Fang Xie, Heather Chief Financial Officer

        10 October 2017

      Global Logistic Properties Limited published this content on 10 October 2017 and is solely responsible for the information contained herein.
      Distributed by Public, unedited and unaltered, on 10 October 2017 09:44:05 UTC.

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