Shirble Department Store Holdings (China) Ltd Announces Acquisition Of Lufeng Property For New Department Store

Shirble Department Store Holdings (China) Ltd announced that on October 15, 2012, Shanwei Shirble Department Store Company Limited (the Purchaser) entered into the sale and purchase agreements with Lufeng City Huace Zhidi Company Limited (the Vendor), pursuant to which the Purchaser has agreed conditionally to acquire from the Vendor the Lufeng Property for RMB206,846,080 (equivalent to approximately HKD254,064,000). The Consideration will be settled by the Purchaser out of the internal financial resources of the Group at different stages leading to Completion.