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Vanke Property Overseas Ltd (1036.HK)

1036.HK on Hong Kong Stock

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Latest Key Developments (Source: Significant Developments)

Vanke Property Overseas enters facility letters which were granted in favor of Ultimate Vantage<1036.HK>
Thursday, 11 Aug 2016 10:18am EDT 

Vanke Property Overseas Ltd <1036.HK>: Major transaction - provision of financial assistance to the joint venture company <1036.HK> . Company as a guarantor entered into the facility letters which were granted in favor of the joint venture company . Joint venture company is owned as to 20% by wkdeveloper and 80% by the jv partner subsidiary . Letters granted for the purpose of issuing finance undertakings to support the pre-sale application of the tw6 project. . Jv company is owned as to 20% by wkdeveloper, an indirect wholly- owned subsidiary of the company and 80% by the jv partner subsidiary . Will be guaranteeing an aggregate principal amount of hk$568 million pursuant to the corporate guarantees given under the facility letters . In relation to the facility letters, the company and the jv partner are required to provide corporate guarantees . Consider provision of corporate guarantees will not have material financial impact on the earnings, assets and liabilities of group . Facility letter i with hongkong and Shanghai banking corporation for facility amount up to hk$2.4 billion . Facility letter II with hang seng bank for facility amount up to hk$440 million .  Full Article

Vanke Property Overseas Ltd announces proposed rights issue on basis of one rights share for every two shares held on record date
Thursday, 25 Jun 2015 06:49pm EDT 

Vanke Property Overseas Ltd:Proposes to raise about HK$1.044 billion, before expenses, by way of rights issue of 129,842,644 rights shares on basis of one rights share for every two shares held by each qualifying shareholder on record date at subscription price of HK$8.04 per rights share payable in full on acceptance.Says net proceeds of rights issue are intended to be used for financing potential acquisition if it materializes.Says balance, if any, to be applied for financing other property acquisition opportunities available to the company from time to time.  Full Article

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