Yanlord Land subsidiary acquires stake in Chinese construction engineering firm

Paid in full cash consideration.

Yanlord Land Group Limited announced that its subsidiary, Shanghai Yanlord Investment Management Co., Ltd. (SYIM), acquired an interest of 60% in Shanghai Gusheng Construction Intelligent Engineering Co., Ltd. (SGCIE) for a cash consideration of RMB600,000.

The Consideration was arrived at on a willing buyer, willing seller basis and has been fully paid and funded by internal resources. SGCIE is a company established in the People’s Republic of China with a registered capital of RMB1,000,000. SGCIE is engaged in construction engineering and other related activities.

The net tangible asset value (NTA) of the Acquired Interest based on the accounts of SGCIE as at 30 June 2013 was RMB600,000. The above transaction is not expected to have any material impact on the NTA or earnings per share of the Company for the financial year ending 31 December 2013.

Ms Chan Yiu Ling (Ms Chan) is a director of the Company. Ms Chan is also a director, chairman and legal representative of SYIM. Save as disclosed herein, none of the directors nor controlling shareholders of the Company has any interest, direct or indirect, in the above transaction

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