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EGM approves the acquisition of 100% equity interest of Laihua Taisheng Limited

An Extraordinary General Meeting (“EGM”) of China Goldjoy Group Limited ( the “Company”) was successfully held in Lippo Centre, 89 Queensway, Hong Kong on 27 December 2017. The meeting was chaired by Mr. Li Minbin, an Executive Director of the Company, Mr. Zhang Chi, an Executive Director, Mr. Wong Chun Bong and Mr. Lee Kwan Hung, an Independent Non-Executive Directors attended the EGM and responded to the questions raised by investors.

 

 

 

The ordinary resolution that approving, confirming and ratifying the Sale and Purchase Agreement dated 4 August 2017 (as amended by the supplemental agreement dated 6 September 2017) entered into between Shenzhen Bao Kai Assets Holdings Limited ( the “Purchaser”), an indirect wholly-owned subsidiary of the Company, and Lai Hua Properties and Investment Limited (the“Vendor”), pursuant to which the Purchaser conditionally agreed to acquire 100% of the equity interest in Laihua TaiSheng Limited (the “Target Company”) for a total consideration of RMB 1,720,000,000. The above resolution was duly passed as ordinary resolution with 99.82% of the votes were casting in favour of it.

 

The Target Company holds a property development project in the name of Century Plaza, in Zhangjiang New District, Ganzhou City, Jiangxi Province of PRC with a site area of 128,461.2 sqm, of which the gross floor area is 635,339.62 sqm. The Target Company anticipates to hold the land construction area of 40,983.03 sqm for commercial use, 23,261.87 sqm for hotel use, 41,164.71 sqm for parking space of commercial office and the remaining part of the land under the Project will be for sale or leased out.


Rendering of the Project “Century Plaza”

 

The Company has pursued diversified strategies and adopted property development and investments as one of the principal business activities in 2017. Considering that the Target Company has an extensive experience in property development and management and Ganzhou City has experienced a rapid economic growth in recent years with local government policy support, a demand in residential, hotel and commercial units is expected to increase further. The board of the Company believes that the Acquisition is a good investment opportunity and the Group will benefit from a property market development in the PRC and diversify income sources in order to maximize return for our shareholders.

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