JIANDE INTERNATIONAL HOLDINGS LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
JIANDE INTERNATIONAL HOLDINGS LIMITED
建 德 國 際 控 股 有 限 公 司
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 865)
DISCLOSEABLE TRANSACTION
ACQUISITION OF LAND USE RIGHTS IN HUNAN PROVINCE, THE PRC
The Board is pleased to announce that, on 28 February 2020, Xiamen Junyi, a wholly- owned subsidiary of the Company, succeeded in the bid of the land use rights of the Land offered for sale by Wugang Natural Resources Bureau at the Auction for RMB94.0 million. The Auction Confirmation is expected to be issued by Wugang Natural Resources Bureau by 6 March 2020. The Land Use Rights Grant Contract is expected to be entered into by 31 March 2020.
For the purpose of bidding the land use rights of the Land jointly, Xiamen Junyi and Shishi Qixin entered into the Joint Bidding Agreement on 19 January 2020.
As the highest applicable percentage ratio (as defined under the Listing Rules) exceeds 5% but is less than 25%, the Acquisition constitutes a discloseable transaction for the Company under Chapter 14 of the Listing Rules.
ACQUISITION OF LAND USE RIGHTS
The Board is pleased to announce that, on 28 February 2020, Xiamen Junyi, a wholly-owned subsidiary of the Company, succeeded in the bid of the land use rights of the Land offered for sale by Wugang Natural Resources Bureau at the Auction for RMB94.0 million. The Auction Confirmation is expected to be issued by Wugang Natural Resources Bureau by 6 March 2020. The Land Use Rights Grant Contract is expected to be entered into by 31 March 2020.
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PRINCIPAL TERMS OF THE LAND USE RIGHTS
Expected date of the Auction | : | On or before 6 March 2020 |
Confirmation | ||
Parties to the Auction | : | Wugang Natural Resources Bureau and Xiamen Junyi |
Confirmation | ||
Location of the Land | : | South side of Zhucheng Highway, Wugang City (武岡 |
市竹城公路以南), Hunan Province, the PRC | ||
Total site area | : | 35,169.35 square meters (of which 34,060.46 square |
meters is net land area) | ||
Planned plot ratio | Equal to or less than 3.0 | |
Nature of the land use rights | : | Urban residential and commercial use (equal to or less |
than 20%) with the term of use of 70 years and 40 | ||
years, respectively | ||
Land Price | : | RMB94.0 million, which was arrived at after bidding |
at the Auction based on a starting bid of RMB93.0 | ||
million and a minimum bid increment of RMB1.0 | ||
million | ||
Payment term | : | As at the date of this announcement, Xiamen Junyi has |
paid an amount of RMB93.0 million as deposit, which | ||
will be used to set off against the Land Price. The | ||
balance of the Land Price of RMB1.0 million is | ||
expected to be paid by 20 March 2020. |
JOINT BIDDING AGREEMENT
For the purpose of bidding the land use rights of the Land jointly, Xiamen Junyi and Shishi Qixin entered into the Joint Bidding Agreement on 19 January 2020. Pursuant to the Joint Bidding Agreement, Xiamen Junyi and Shishi Qixin agreed, among others:
- Xiamen Junyi and Shishi Qixin shall jointly bid for the land use rights of the Land.
- If the bid of the land use rights of the Land is succeeded, Xiamen Junyi and Shishi Qixin shall be responsible to pay the Land Price and the related land tax as to 80% and 20%, respectively.
- Within one month after the successful bid of the land use rights of the Land, Xiamen Junyi and Shishi Qixin shall jointly establish a project company owned by Xiamen Junyi and Shishi Qixin as to 80% and 20%, respectively. The project company shall enter into the Land Use Rights Grant Contract with Wugang Natural Resources Bureau, and undertake the development and construction regarding the Land.
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4. The land use rights of the Land shall be owned by Xiamen Junyi and Shishi Qixin as to 80% and 20%, respectively.
INFORMATION ON THE PARTIES
Wugang Natural Resources Bureau
Wugang Natural Resources Bureau is a bureau of Wugang City, Hunan Province, the PRC and an Independent Third Party.
Xiamen Junyi
Xiamen Junyi is a limited liability company incorporated in the PRC and a wholly-owned subsidiary of the Company.
Shishi Qixin
Shishi Qixin is a limited liability company incorporated in the PRC. On 30 July 2019, a project company owned by Xiamen Junyi and Shishi Qixin as to 80% and 20%, respectively, succeeded in the bid of the land use rights of a parcel of land in Xi County, Xinyang City, Henan Province, the PRC. Details of such acquisition are set forth in the announcement of the Company dated 30 July 2019 and the circular of the Company dated 25 September 2019.
Save as disclosed above, to the best of the knowledge, information and belief of the Directors having made all reasonable enquires, Shishi Qixin and its ultimate beneficial owners are Independent Third Parties.
REASONS FOR AND BENEFITS OF THE ACQUISITION
The Group is principally engaged in the development and sale of properties in the PRC.
The Board considers that the Acquisition provides a good opportunity for the Group to increase its land reserve and is in line with the business development strategy and planning of the Group.
The Board considers that the Acquisition is in the ordinary and usual course of business of the Group and on normal commercial terms which is fair and reasonable and in the interests of the Company and the Shareholders as a whole.
LISTING RULES IMPLICATION
As the highest applicable percentage ratio (as defined under the Listing Rules) exceeds 5% but is less than 25%, the Acquisition constitutes a discloseable transaction for the Company under Chapter 14 of the Listing Rules.
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DEFINITIONS
In this announcement, the following expressions have the meanings set forth below unless the context requires otherwise:
''Acquisition'' | the acquisition of land use rights of the Land through |
bidding process at the Auction | |
''Auction'' | the bidding process at which the Land was offered for sale |
''Auction Confirmation'' | the auction confirmation notice to be entered into between |
Wugang Natural Resources Bureau and Xiamen Junyi | |
confirming the successful bidding at the Auction | |
''Board'' | the board of Directors |
''Company'' | Jiande International Holdings Limited, a company |
incorporated in the Cayman Islands with limited liability, | |
the shares of which are listed on the Stock Exchange (Stock | |
Code: 865) | |
''Director(s)'' | the director(s), including independent non-executive |
director(s), of the Company | |
''Group'' | the Company together with its subsidiaries |
''Joint Bidding Agreement'' | an agreement dated 19 January 2020 entered into between |
Xiamen Junyi and Shishi Qixin regarding, among other | |
things, the joint bidding of the land use rights of the Land | |
''Land'' | a piece of land located at South side of Zhucheng Highway, |
Wugang City (武岡市竹城公路以南), Hunan Province, the | |
PRC | |
''Land Price'' | RMB94.0 million, being land price payable for the |
Acquisition | |
''Land Use Rights Grant | the land use rights grant contract in relation to the |
Contract'' | Acquisition |
''Listing Rules'' | the Rules Governing the Listing of Securities on the Stock |
Exchange | |
''PRC'' | the People's Republic of China |
''RMB'' | Renminbi, the lawful currency of PRC |
''Share(s)'' | the ordinary share(s) of the Company |
''Shareholder(s)'' | the holder(s) of the Share(s) |
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''Shishi Qixin'' | Shishi Qixin Trading Company Limited* (石獅市琦鑫貿易 |
有限責任公司), a limited liability company incorporated in | |
the PRC | |
''Stock Exchange'' | The Stock Exchange of Hong Kong Limited |
''Wugang Natural Resources | Bureau of Natural Resources of Wugang City* (武岡市自然 |
Bureau'' | 資源局) |
''Xiamen Junyi'' | Xiamen Junyi Real Estate Company Limited* (廈門駿熠置 |
業有限公司), a limited liability company incorporated in the | |
PRC and a wholly-owned subsidiary of the Company | |
''%'' | per cent |
By order of the Board | |
Jiande International Holdings Limited | |
Shie Tak Chung | |
Chairman | |
Hong Kong, 28 February 2020 |
As at the date of this announcement, the executive Directors are Mr. Shie Tak Chung, Mr. Wu Zhisong and Mr. Lee Lit Mo Johnny and the independent non-executive Directors are Mr. Ma Sai Yam, Mr. Zhang Senquan and Mr. Yang Quan.
- For identification purpose only
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Jiande International Holdings Ltd. published this content on 28 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 February 2020 13:34:11 UTC
