Brief: Hailan Holdings Unit Enters Cooperation Agreement With Guangzhou Ruifeng To Establish JV Co A

Hailan Holdings

24/04/2019 12:48

April 24 (Reuters) - Hailan Holdings Ltd  2278.HK :
    * UNIT ENTERS COOPERATION AGREEMENT WITH GUANGZHOU RUIFENG
TO
ESTABLISH JV CO A IN PRC TO PRINCIPALLY ENGAGE IN REAL ESTATE
DEVELOPMENT
    * NANJING HAILAN MAY ADVANCE UP TO RMB500 MILLION TO JV CO A
IN
2019 IN FORM OF SHAREHOLDERS' LOAN WITH ANNUAL INTEREST RATE OF
12%
    * UNIT AND JV TO ESTABLISH JV COMPANY B WITH A REGISTERED
CAPITAL
OF RMB50 MILLION
    * NANJING HAILAN SHALL CONTRIBUTE RMB32.5 MILLION,
REPRESENTING
65% OF REGISTERED CAPITAL OF JV COMPANY B
    * REGISTERED CAPITAL OF JV COMPANY A IS RMB50 MILLION; UNIT
SHALL
CONTRIBUTE RMB27.5 MILLION (55%) OF JV COMPANY A
    * UNIT MAY ADVANCE UP TO RMB500 MILLION TO JV COMPANY B IN
2019 IN
FORM OF SHAREHOLDERS' LOAN WITH AN ANNUAL INTEREST RATE OF 12%

Source text for Eikon:  ID:nHKS5gtktj 
Further company coverage:  2278.HK 

 ((Reuters.Briefs@thomsonreuters.com;))