PDF《冠亚商业集团有限公司*》

1 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.

ASIA COMMERCIAL HOLDINGS LIMITED 冠亚商业集团有限公司*(Incorporated in Bermuda with limited liability) (Stock Code: 104) DISCLOSEABLE TRANSACTION ACQUISITION OF A REAL PROPERTY ACQUISITION OF THE PROPERTY The Board is pleased to announce that on

1 June 2018, Eav Development (a wholly-owned subsidiary of the Company) as buyer entered into the SP Contract with the Sellers agreeing to purchase the Property from the Sellers. The Purchase Price for the Property is ?3,000,000 (approximately HK$31,230,000) payable in cash. The Property is a residential apartment at Flat 5A,

107 Queen'

s Gate, London SW7 5AG, United Kingdom. LISTING RULES IMPLICATIONS As the highest applicable percentage ratio calculated in respect of the Acquisition exceeds 5% but is less than 25%, the Acquisition constitutes a discloseable transaction for the Company and is subject to notification and announcement requirements under Chapter

14 of the Listing Rules. 1. BACKGROUND The Board is pleased to announce that on

1 June 2018, Eav Development (a wholly-owned subsidiary of the Company) as buyer entered into the SP Contract with the Sellers agreeing to purchase the Property from the Sellers. The material terms of the SP Contract are set out below.

2 2. SP CONTRACT Date:

1 June

2018 Parties: (1) Eav Development (a wholly-owned subsidiary of the Company) as buyer;

and (2) The Sellers, who are two individuals. To the best of the knowledge, information and belief of the Directors after having made all reasonable enquiries, the Sellers are third parties independent of the Company and its connected persons. Property: The subject matter of the Acquisition is the Property. Purchase Price: The Purchase Price for the Property is ?3,000,000 (approximately HK$31,230,000) payable in cash. A deposit of ?300,000 (approximately HK$3,123,000) has been paid on the date of the SP Contract. The remaining balance of ?2,700,000 (approximately HK$28,107,000) of the Purchase Price will be paid on completion of the Acquisition. The Purchase Price was agreed between the parties after commercial negotiations at arm'

s length. The management of the Group agreed to the Purchase Price after its internal valuation based on comparison of the publicly available property transaction prices in or near the same locality and an assessment of the Property'

s area, the building'

s age, location and orientation, general construction quality, interior finishes and fittings and neighboring transportation and connectivity. The Purchase Price is funded by the internal cash resources of the Group. Completion: The parties intend to complete the Acquisition on or before

15 June 2018. 3. INFORMATION ABOUT THE PROPERTY AND REASONS FOR, AND BENEFITS OF, THE ACQUISITION The Property is a residential apartment at Flat 5A,

107 Queen'

s Gate, London SW7 5AG, United Kingdom. The total floor area of the Property is approximately 1,710 sq ft/158.86 sq metres. Vacant possession of the Property will be delivered on the completion of the Acquisition.

3 The Property is located at the southern end of Queen'

s Gate, a wide tree lined street, allowing easy access to the shops, restaurants, transport facilities. Also within walking distance are Hyde Park and Kensington Gardens. The Property is acquired for investment purposes. The addition of the Property to the Group'