CCPL China Central

 

TIDMCCPL 
 
RNS Number : 7381O 
China Central Properties Limited 
12 March 2009 
 

China Central Properties Limited 
 
 
("CCP" or the "Company") 
 
 
Statement re: share price movement 
 
 
 
 
The Board of China Central Properties Limited, notes the recent share price 
movement and confirms that the Company has received an approach, conditional 
inter alia on the early cancellation of the Company's outstanding convertible 
bonds, which may or may not lead to an offer being made for the Company. The 
Board emphasizes that discussions are at an early stage and that there can be no 
assurance that an offer will be forthcoming. 
 
 
A further statement will be issued in due course. 
 
 
 
 
For further information, please contact: 
 
 
China Central Properties Limited 
 
 
Ms. Elaine Yuen, Company Secretary+852 2296 8033 
 
 
Seymour Pierce Limited 
 
 
Corporate Finance: 
 
 
Mark Percy / Chris Howard / Christopher Wren +44 20 7107 8000 
 
 
About CCP 
 
 
CCP is a property investment company listed on AIM, a market operated by the 
London Stock Exchange, and focuses primarily on investing in medium to large 
partially completed property projects in major and secondary cities in the 
Chinese Mainland. CCP has a diversified portfolio of properties, including 
commercial, retail and residential complexes, strategically located in Beijing, 
Chengdu, Chongqing, Guangzhou, Qingdao and Shenyang. 
 
 
Application of the City Code on Takeovers and Mergers 
 
 
Since CCP's securities are not traded on a regulated market in the United 
Kingdom ("UK") or on any stock exchange in the Channel Islands or the Isle of 
Man and since CCP is not considered by the UK's Panel on Takeovers and Mergers 
(the "Panel") to be centrally controlled or managed in the UK or the Channel 
Islands or the Isle of Man, CCP is not subject to the provisions of the UK's 
City Code on Takeovers and Mergers ("Code"). However, the articles of 
association of CCP ("Articles") provide that if and for so long as CCP shall not 
be subject to the Code, the board of directors of CCP shall, where CCP is the 
subject of an approach, comply with and procure that CCP complies with the 
provisions of the Code as if CCP were subject to the Code. Accordingly, there is 
set out below a description of the dealing disclosure requirements of the Code 
which CCP regards as being now applicable to CCP in the light of CCP's 
announcement set out above. The Articles provide that the Board shall have 
discretion to determine how the deemed application of the Code to CCP shall 
operate. Accordingly, the relevant provisions of the Code shall for these 
purposes be read such that all references to "the Panel" shall be deemed to be 
references to "CCP". In case of any queries, please contact CCP's Nominated 
Adviser and Broker Seymour Piece using the contact details set out above in this 
announcement. 
 
 
Dealing Disclosure Requirements 
 
 
Under the provisions of Rule 8.3 of the Code, if any person is, or becomes, 
"interested" (directly or indirectly) in 1% or more of any class of "relevant 
securities" of CCP, all " dealings" in any "relevant securities" of that company 
(including by means of an option in respect of, or a derivative referenced to, 
any such "relevant securities") must be publicly disclosed by no later than 3.30 
pm (London time) on the London business day following the date of the relevant 
transaction. This requirement will continue until the date on which the offer 
becomes, or is declared, unconditional as to acceptances, lapses or is otherwise 
withdrawn or on which the "offer period" otherwise ends. If two or more persons 
act together pursuant to an agreement or understanding, whether formal or 
informal, to acquire an "interest" in "relevant securities" of CCP, they will be 
deemed to be a single person for the purpose of Rule 8.3. 
 
 
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant 
securities" of CCP by CCP, or by any of its respective "associates", must be 
disclosed by no later than 12.00 noon (London time) on the London business day 
following the date of the relevant transaction. 
 
 
"Interests in securities" arise, in summary, when a person has long economic 
exposure, whether conditional or absolute, to changes in the price of 
securities. In particular, a person will be treated as having an "interest" by 
virtue of the ownership or control of securities, or by virtue of any option in 
respect of, or derivative referenced to, securities. 
 
 
Terms in quotation marks are defined in the Code, which can be found on the 
Panel's website at www.thetakeoverpanel.org.uk. If you are in any doubt as to 
whether or not you are required to disclose a "dealing" under the deemed 
application of Rule 8 to CCP, you should consult CCP's Nominated Adviser and 
Broker, Seymour Piece Limited, using the contact details set out above in this 
announcement. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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