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Chinlink International Holdings Ltd Announces Strategic Agreement With Hantai District Government


Thursday, 16 Aug 2012 07:10am EDT 

Chinlink International Holdings Ltd announced that in connection with the letter of intent entered into by the Company and the local government of the Hanzhong City, Shaanxi Province, the People‚Äôs Republic of China (the PRC) on April 5, 2012, in relation to the exclusive right to the project for the development of a construction material wholesale and logistics centre to be located in Hanzhong City. The board of directors of the Company announced that after the trading hours of the Stock Exchange on August 16, 2012, the Company entered into a strategic agreement with the local government of the Hantai District, Hanzhong City, Shaanxi Province, the PRC. Pursuant to the Agreement, the contract parties agreed that (i) the expropriation of the land for the first phase of the Project shall be commenced; the Hantai District Government shall assist in obtaining all the relevant permits for the Land Expropriation and other aspects of the Project and providing necessary infrastructure for the Project and the Company shall establish a subsidiary as project company in the PRC and enter into separate agreement(s) for the Land Expropriation and other aspects of the Project with the relevant parties via the Project Company. Specific agreement(s) in respect of the Land Expropriation and other aspects of the Project will be signed when the detailed terms and arrangements are agreed upon between the Company and the relevant parties. 

Company Quote

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