DISCLOSEABLE TRANSACTION — FORMATION OF A JOINT VENTURE COMPANY
On 15 September 2011, Brilliant Star Capital, a wholly-owned subsidiary of the Company entered into the JV Agreement with the PRC Party, pursuant to which Brilliant Star Capital and the PRC Party agreed to form the JV Company to operate and develop small loan business in Chengdu City, Sichuan Province, the PRC.
The JV Company will be owned as to 90% by Brilliant Star Capital and 10% by the PRC Party. As certain applicable percentage ratio (as defined in Rule 14.07 of the Listing Rules) in respect of Brilliant Star Capital’s investment exceeds 5% but is less than 25%, such investment constitutes a discloseable transaction of the Company under Chapter 14 of the Listing Rules.
FORMATION OF THE JV COMPANY
The Company is an investment holding company. The Group principally provides investment management services to investment funds and managed accounts.
The PRC Party is a state-owned enterprise in the PRC which principally invests in emerging industries in
Chengdu City of the PRC. The PRC Party is wholly-owned by Chengdu Industry Investment Group Co., Ltd. which is an investment holding company controlled by Chengdu State-owned Assets Supervision and Administration Commission (“Chengdu SASAC”).
On 15 September 2011, Brilliant Star Capital, a wholly-owned subsidiary of the Company, entered into the JV Agreement with the PRC Party, pursuant to which Brilliant Star Capital and the PRC Party agreed to form the JV Company to operate and develop small loan business in Chengdu City, Sichuan Province, the PRC. The JV Company will be owned as to 90% by Brilliant Star Capital and 10% by the PRC Party.
Hong Kong, 15 September 2011
For more details, please download and read the official Announcement. Thank you.