[ET Net News Agency, 13 September 2021] China Jinmao Holdings Group Limited (00817)
said Jin Mao Northern, an indirect wholly-owned subsidiary of the company, has entered
into the cooperation agreement with Ningcheng Real Estate and the project company in
relation to the cooperation for the development of the land parcel.
Jin Mao Northern has agreed to acquire from Ningcheng Real Estate its 30% equity
interests in the project company, and make capital contribution in an amount of RMB1,080
million to the project company and provide shareholder's loans in a total amount of no
more than RMB2,160 million to the project company in proportion to its shareholding in the
project company. Upon completion of the transaction, Ningcheng Real Estate and Jin Mao
Northern will hold 70% and 30% equity interests in the project company, respectively.
Located in Sunjiapo Village, Dougezhuang Township, Chaoyang District, Beijing, the PRC,
the land parcel covers a site area of approximately 85,059 square metres with a planned
gross floor area of approximately 242,377 square metres. (RC)