600246) &quo
600110) &quo
Jan
15
As of December 31, 2008, in accordance with relevant resolution of its 4th special Shareholders' Meeting of 2006, the Company had totally paid RMB492,291,120 for purchasing one building (with the developer of Union Land Property Development Co., Ltd. [Union Land]) of Chaoyang Square project in Beijing.
For the reasons including the price and Union Land's failure to get the permit for advance sale, the Company now plans to terminate the purchase of the aforesaid house property. Upon negotiation, the Company and Union Land signed the "Agreement on Repayment" (with the notarization of execution handled), namely, Union Land shall repay the RMB492,291,120 principal for house purchase to the Company, and pay the Company the interest of principal and design cost of RMB38,861,333 before March 31, 2009 or the expiry date of the extending period as stipulated (including the very day).
On January 13, 2009, the Company received the "Notice for Assistance in Execution" (including the "Civil Decree") issued by the Beijing High People's Court (the Court) to Beijing Municipal Bureau of Land and Resources, learning that the aforesaid house property and relevant land use right had been attached by the Court.
For the reasons including the price and Union Land's failure to get the permit for advance sale, the Company now plans to terminate the purchase of the aforesaid house property. Upon negotiation, the Company and Union Land signed the "Agreement on Repayment" (with the notarization of execution handled), namely, Union Land shall repay the RMB492,291,120 principal for house purchase to the Company, and pay the Company the interest of principal and design cost of RMB38,861,333 before March 31, 2009 or the expiry date of the extending period as stipulated (including the very day).
On January 13, 2009, the Company received the "Notice for Assistance in Execution" (including the "Civil Decree") issued by the Beijing High People's Court (the Court) to Beijing Municipal Bureau of Land and Resources, learning that the aforesaid house property and relevant land use right had been attached by the Court.
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