Euro Asia provides update on announced acquisitions
Hong Kong, SAR Peoples' Republic of China, 13 November, 2019
Euro Asia Premier Real Estate Company Limited (JT9; ISIN: VGG3223A1057) is pleased to provide an update on the acquisitions announced on September 23, 2019.
As per the agreement announced and executed on 23 September, 2019, Euro Asia and its joint venture partners are in the process of establishing the legal entities required to hold the acquisition targets. The Company has retained Guangdong Tuoye Law Firm to facilitate the acquisition and prepare the holding vehicle and all necessary permits. Guangdong Tuoye confirms that the regulatory processes should take no more than 45 working days as of the date of execution of the agreements to be finalized.
Furthermore, in a legal opinion Guangdong Tuoye Law Firm stated that all three agreements executed on September 23, 2019 are legally in effect and enforceable as of September 30, 2019.
During this interim period, until holding vehicles and PRC accounts are established, an unaudited net income of approximately RMB 530,000 for the month of October was collected by the Company and is being held on behalf of the Company by its director, Mr. Quan Hu. This income stream conforms to the projected income expectations from the Company's due diligence.
Schwarz Financial Communication
Tel: +49 611 580 2929 0
About Euro Asia
Euro Asia is a BVI registered company, active in demand driven development of real estate projects in the Shandong and Tongshan area of the People's Republic of China. The Company operates locally through its subsidiaries. By utilizing its strong local network to banks, political decision makers, land owners and other developers, the Company intends to grow into real estate and digital commerce sectors.
For more information, please visit www.eu-asia.net
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