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Juda International Holdings Ltd announces Reco Ziyang Transfer Agreement and acquisition agreement with Beijing Capital Land Ltd 's Asian Expert

Friday, 15 Aug 2014 07:19am EDT 

Juda International Holdings Ltd and Beijing Capital Land Ltd:Asian Expert (as the purchaser), an indirect subsidiary of BCL, and Reco Ziyang (as the seller), a connected person of BCL, entered into the Reco Ziyang Transfer Agreement for the transfer of 60 pct equity interest in the Target Company.Upon completion of the BCL Acquisition, Asian Expert will become the sole owner of the Target Company.Far Reaching (as the purchaser), an indirect subsidiary of the company, and Asian Expert (as the seller), an indirect subsidiary of BCL, entered into the acquisition agreement for the transfer of 100 pct equity interest in the target company.Upon Completion, the Target Company and its subsidiary will become wholly-owned by Far Reaching.Consideration payable for the Acquisition is about HK$1,963.4 mln.For funding and settlement of the consideration, Get Thrive (as the subscriber), a subsidiary of BCL, and the company (as the issuer) entered into the subscription agreement.Pursuant to which Get Thrive will subscribe for and the company will issue 738,130,482 CPS on the terms and conditions set out in the subscription agreement at an issue price of HK$2.66 per CPS.All proceeds arising from the issue of the CPS will be used to settle the consideration payable for the acquisition. 

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