China Resources Land : CONNECTED TRANSACTION - ACQUISITION OF A PROPERTY MANAGEMENT COMPANY

About this update from China Resources Land Limited

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. (Incorporated in the Cayman Islands with limited liability) (Stock Code: 1109) CONNECTED TRANSACTION - ACQUISITION OF A PROPERTY MANAGEMENT COMPANY The Board is pleased to announce that on 26 August 2020, CRL Wuhan, an indirect wholly- owned subsidiary of the Company, entered into the Agreement with CRCL for the sale and purchase of the Sale Equity, representing the entire registered capital of the Target Company, for a consideration of RMB47,122,100 (equivalent to approximately HK$52,774,219), subject to the terms and conditions as set out in the Agreement. As at the date of this announcement, CRCL is a controlling Shareholder of the Company, CRCL is therefore a connected person of the Company. CRL Wuhan is an indirect wholly-owned subsidiary of the Company and thus the Acquisition constitutes a connected transaction of the Company. As one of the applicable percentage ratios in respect of the Acquisition exceeds 0.1% but is less than 5%, the Acquisition is only subject to the reporting and announcement requirements under the Listing Rules, and is exempted from the circular, independent financial advice and independent shareholders' approval requirements under Chapter 14A of the Listing Rules. The Board is pleased to announce that on 26 August 2020, CRL Wuhan, an indirect wholly-owned subsidiary of the Company, entered into the Agreement with CRCL for the sale and purchase of the Sale Equity, representing the entire registered capital of the Target Company, for a consideration of RMB47,122,100 (equivalent to approximately HK$52,774,219), subject to the terms and conditions as set out in the Agreement. THE ACQUISITION Principal terms of the Agreement are summarised as follows: Date: 26 August 2020 Parties: (1) CRCL as vendor, and (2) CRL Wuhan as purchaser 1 Subject matter Pursuant to the Agreement, CRCL conditionally agrees to sell, and CRL Wuhan conditionally agrees to purchase, the Sale Equity, representing the entire registered capital of RMB3,000,000 of the Target Company, which is fully p...

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