(Company Registration No. 197301792W)
POTENTIAL DIVESTMENT OF METRO HOLDINGS LTD'S INDIRECT INTEREST OF 30% IN NANCHANG TOP SPRING PROPERTY DEVELOPMENT COMPANY LIMITED ("NANCHANG TOP SPRING")On 15 August 2017, Top Spring International Holdings Limited ("Top Spring") had announced that it had entered into a conditional sale and purchase agreement to sell and H-Change Real Estate Group Ltd ("H-Change") to purchase the shares of certain companies of the Top Spring Group including shares representing the Top Spring Group's interest in Nanchang Top Spring.
The Board of Directors of Metro Holdings Limited ("Metro" or the "Company") wishes to announce that the Company is currently in discussions with H-Change in connection with a potential disposal of its indirect 30% interest in Nanchang Top Spring (the "Potential Divestment"). As of the date of this announcement, no legally-binding agreement in relation to the Potential Divestment has been entered into by Metro Shanghai (HQ) Pte Ltd, which owns the direct 30% interest in Nanchang Top Spring.
As there is no certainty that the Potential Divestment will materialise, shareholders are advised to exercise caution when dealing in the shares of the Company and to refrain from taking any action in respect of their investments which may be prejudicial to their interests. In the event that shareholders wish to deal in the shares of the Company, they should seek their own professional advice and consult with their own stockbrokers.
By Order Of The Board
Tan Ching Chek and Lee Chin Yin Joint Company Secretaries
23 August 2017