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PR Newswire
20-11-2017, 03:17 PM
Lapse of Non-Binding Heads of Agreement
The Board of Directors of IPC Corporation Ltd refers to:
1. the Company’s announcement dated 18 September 2017 in relation to the entry into a non-binding heads of agreement ("HOA") with Xinyuan (China) Real Estate Co., Ltd. for the proposed acquisition of 51% equity interest in Beijing iJourney Technology Development Co. Ltd (北京爱接力科技发展有限公司) ("the “Proposed Acquisition");
and
2. the Company’s announcement dated 18 September 2017 in relation to the entry into a HOA with Xinyuan (China) Real Estate Co., Ltd. for the proposed disposal of the Company’s hotel, "Grand nest HOTEL zhuhai" (the "Proposed Disposal"),
(collectively, the “Announcements”).
Further to the Announcements, the Board wishes to announce that the HOA in relation to the Proposed Acquisition and the Proposed Disposal have lapsed and cease to have further effect between the parties as at the date of this announcement.
The Board of Directors of IPC Corporation Ltd refers to:
1. the Company’s announcement dated 18 September 2017 in relation to the entry into a non-binding heads of agreement ("HOA") with Xinyuan (China) Real Estate Co., Ltd. for the proposed acquisition of 51% equity interest in Beijing iJourney Technology Development Co. Ltd (北京爱接力科技发展有限公司) ("the “Proposed Acquisition");
and
2. the Company’s announcement dated 18 September 2017 in relation to the entry into a HOA with Xinyuan (China) Real Estate Co., Ltd. for the proposed disposal of the Company’s hotel, "Grand nest HOTEL zhuhai" (the "Proposed Disposal"),
(collectively, the “Announcements”).
Further to the Announcements, the Board wishes to announce that the HOA in relation to the Proposed Acquisition and the Proposed Disposal have lapsed and cease to have further effect between the parties as at the date of this announcement.
Specuvestor: Asset - Business - Structure.