CHINA OVERSEAS LAND & INVESTMENT LTD. 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 Hong Kong with limited liability)
(Stock Code: 688) VOLUNTARY ANNOUNCEMENT LAND ACQUISITION UPDATE FOR THE TEN MONTHS ENDED 31 OCTOBER 2016China Overseas Land & Investment Limited (the "Company") wishes to provide to its shareholders the below update on the land acquisitions carried out by the Company and China Overseas Grand Oceans Group Limited ("COGO"), an associate of the Company, for the ten months ended 31 October 2016 (the "Land Acquisition Update"). The Land Acquisition Update is also available on the website of the Company (www.coli.com.hk).
For October 2016, both the Company (together with its subsidiaries (collectively, the "Group")) and COGO (together with its subsidiaries (collectively, the "COGO Group")) did not acquire any land parcels.
Details of the land acquisitions are set out below for reference:
Land parcels acquired by the Group in 2016(Note1) | ||||||||
No. | Time of acquisition | City in which land acquired is located | Name of development project | Percentage interest attributable to the Company | Land area (m2) | Total GFA (m2) | Attributable GFA (m2) | Land premium (RMB mn) (Note 2) |
1 | January | Jinan | Licheng District Huashan Project | 100% | 559,321.57 | 1,471,182.00 | 1,471,182.00 | 3,796.08 |
2 | February | Hong Kong | New Territories Tai Po Project | 100% | 37,696.00 | 107,100.00 | 107,100.00 | 1,789.20 (Note 3) |
3 | March | Nanchang | Donghu District Qingshanhu Project | 100% | 59,880.00 | 239,632.00 | 239,632.00 | 1,957.67 |
4 | May | Changchun | Lvyuan District Jingyang Dalu Project | 100% | 149,342.00 | 462,359.00 | 462,359.00 | 656.04 |
5 | August | Jinan | Licheng District Huashan Project | 100% | 1,052,029.00 | 3,941,699.20 | 3,941,699.20 | 7,744.18 |
6 | August | Xi'an | Xixian New District Project | 100% | 72,938.02 | 297,326.00 | 297,326.00 | 318.00 |
7 | September | Ningbo | Jiangdong District Project | 100% | 116,046.00 | 330,382.00 | 330,382.00 | 4,474.81 |
Sub-total for the Group: | 2,047,252.59 | 6,849,680.20 | 6,849,680.20 | 20,735.98 | ||||
Land acquisitions by the COGO Group in 2016 | ||||||||
Land area (m2) | Total GFA (m2) | Attributable GFA (m2) | Land premium (RMB mn) (Note 2) | |||||
Sub-total for the COGO Group: | 210,257.40 | 709,448.67 | 524,773.98 | 998.22 | ||||
TOTAL: | 2,257,509.99 | 7,559,128.87 | 7,374,454.18 | 21,734.20 | ||||
Note:
The details of the land parcels stated in the table above do not include those property projects acquired by the Company from CITIC Corporation Limited. For the acquisition details, please refer to the announcements dated 14 March and 15 September 2016 and the circular dated 29 June 2016 and which are available on HKEx and the Company's website.
The land premium illustrated in the table above represents the full sum of land premium payable by the Group in respect of the relevant acquisition.
Exchange rate of HK$ to RMB is 0.84.
The above Land Acquisition Update has been prepared based on the respective internal management records of the Company and COGO which have not been audited nor reviewed by external auditors, and as such the data contained therein is for investors' information only. Such data may differ from the figures to be disclosed in the audited or unaudited consolidated financial statements to be published by the Company and COGO on an annual, semi-annual or quarterly basis due to various uncertainties during the process of collection and collating of such data. The Land Acquisition Update does not constitute, nor should it be construed as, an offer or solicitation for the purchase or sale of any securities or financial instruments of the Company or any of its subsidiaries or associates. It does not and is not intended to provide any investment service or investment advice.
By order of the Board
China Overseas Land & Investment Limited Hao Jian MinChairman & Chief Executive Officer
Hong Kong, 9 November 2016
As at the date of this announcement, Messrs. Hao Jian Min (Chairman and Chief Executive Officer), Xiao Xiao (Vice Chairman), Luo Liang and Nip Yun Wing are the executive directors; Mr. Chang Ying is the non-executive director; and Mr. Lam Kwong Siu, Madam Fan Hsu Lai Tai, Rita and Mr. Li Man Bun, Brian David are the independent non-executive directors of the Company.
China Overseas Land & Investment Limited published this content on 09 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 09 November 2016 11:26:04 UTC.
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