28 July 2009 - The Board announces that on 28 July 2009, a wholly-owned subsidiary of the Company entered into an agreement to acquire land and buildings, plant and machineries and other assets from a company located in Jiangsu Province in PRC for flour mill operations, for a total consideration of RMB100 million (approximately HK$113.7 million).
Subject to the terms and conditions of the Agreement, the Purchaser has conditionally agreed to acquire the Assets from the Vendor including (i) land and buildings; (ii) plant and machineries; and (iii) other assets, for flour mill operations in Jiangsu, the PRC. The Guarantors will jointly and severally guarantee the performance of the Vendor’s obligations under the Agreement.