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Yuexiu Property Co Ltd Announces Second Cooperation Agreement

Friday, 22 Nov 2013 07:46am EST 

Yuexiu Property Co Ltd announced that as the Project Company wishes to introduce another investor to invest in and develop the Land Parcel, on November 22, 2013, GZHJ, the JV Partner and the Investor entered into the Second Cooperation Agreement, pursuant to which the Investor shall acquire equity interest in the Project Company by way of a capital increase. Pursuant to the Second Cooperation Agreement, GZHJ, the JV Partner and the Investor shall own 5%, 45% and 50%, respectively, of the equity interest of the Project Company. GZHJ’s total contribution for the Total Capital Commitment under the Second Cooperation Agreement is RMB226,000,000, being 5% of the Total Capital Commitment. Pursuant to the Cooperation Agreement, GZHJ and the JV Partner had paid RMB5,000,000 and RMB45,000,000 respectively to the Project Company as its registered capital in proportion to their equity interests held in the Project Company (i.e. 10%:90%). 

Company Quote

-0.01 -0.72%
11:37pm EDT