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Perennial Real Estate Holdings Buys 10% Stake In Perennial China Retail Trust Management

Shares Investment

Perennial Real Estate Holdings has announced the purchase of 13,000 ordinary shares – representing a 10 percent stake – in Perennial China Retail Trust Management from Asdew Acquisitions.

The consideration of the acquisition is $3.9 million, and is to be satisfied ultimately by the issuance of 2,932,433 new shares of the group fully paid to Asdew Acquisitions, at the issue price of $1.3353 per share.

Upon completion, all issued shares of Perennial China Retail Trust Management will be wholly-owned by the group. Based on the management accounts of the group, the book value and net tangible asset value of the acquired shares was $9.8 million as at 31 July 2015.



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