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RTNominal down4.470 -0.080 (-1.758%)

26/07/2021 10:39

CCCC (01800) to form project company for land parcels

[ET Net News Agency, 26 July 2021] China Communications Construction Company Limited
(01800) said CCCC Urban Investment, China Real Estate Group and Yunyan Urban Renewal have
entered into the Master Agreement which sets out the parties' intent in relation to the
joint development of the project land parcels. On 23 July 2021, the parties have entered
into the Supplemental Agreement which sets out the specific terms in relation to the
formation of the Project Company and joint development of the project land parcels,
pursuant to which, the registered capital of the Project Company is RMB2,450.00 million,
of which RMB1,212.75 million, RMB1,212.75 million and RMB24.50 million will be contributed
by CCCC Urban Investment, China Real Estate Group and Yunyan Urban Renewal, respectively,
accounting for 49.50%, 49.50% and 1.00% of the total registered capital of the Project
Company, respectively.
On 23 July 2021, CCCC Urban Investment and Yunyan Urban Renewal entered into the Concert
Party Agreement in respect of the Project Company, pursuant to which Yunyan Urban Renewal
agreed to act as a concert party of CCCC Urban Investment while no consideration will be
paid by CCCC Urban Investment.
The project land parcels are located in the core area of Yunyan District in Guiyang City
with a total site area of approximately 96,136 square metres. The project land parcels
consist of three land parcels, two of which are for residential use and one is for
commercial use. (RC)

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