CNOUHUA

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OTHERS CHINA OUHUA WINERY HOLDINGS LIMITED ("CHINA OUHUA" OR "THE COMPANY") THE ACQUISITION BY YANTAI FAZENDA OUHUA WINERY CO., LTD, A SUBSIDIARY OF CHINA OUHUA OF ALL THAT LAND AND BUILDINGS LOCATED AT NO. 3, WOLONG ROAD, YANTAI CITY FOR A TOTAL CASH CONSIDERATION OF RMB132,000,000

CHINA OUHUA WINERY HOLDINGS LIMITED

Type Announcement
Subject OTHERS
Description
CHINA OUHUA WINERY HOLDINGS LIMITED ("CHINA OUHUA" OR "THE COMPANY")
THE ACQUISITION BY YANTAI FAZENDA OUHUA WINERY CO., LTD, A SUBSIDIARY OF CHINA OUHUA OF ALL THAT LAND AND BUILDINGS
LOCATED AT NO. 3, WOLONG ROAD, YANTAI CITY FOR A TOTAL CASH CONSIDERATION OF RMB132,000,000

Reference is made to the previous announcements released on 18 December 2013, 9 May 2014, 6 May 2015, 14 May 2015, 9 May 2016, 20 April 2017, 28 April 2017, 6 October 2017, 5 April 2018, 4 May 2018, 5 November 2018, 29 April 2019, 3 May 2019, and 1 November 2019.

The Board of Directors of China Ouhua (“Board”) wishes to update that the land title ownership has yet to be transferred to Yantai Fazenda Ouhua Winery Co., Ltd. (“Yantai Ouhua”).

In April 2020, the Management was informed that the Company’s application on the land title ownership transfer (“the Application”) had been reviewed and confirmed by the Municipal Bureau of Land and Natural Resources of Shandong Province (“MBLNR”) that the Company’s land title ownership issue has met the criteria as stipulated in the Document (2019) No. 3 (“the Document”) issued by the MBLNR and should be classified as a historical land property rights related issues. MBLNR had granted a special approval and instruction to the Ministry of Housing and Urban-Rural Development (“MOHURD”) and the Real Estate Registration Center in Yantai City to process the Application.

Subsequently, the Management had submitted all the requested documents to MOHURD and the Real Estate Registration Center for their assessment and approval.

At present, several local government departments i.e. MOHURD, the Real Estate Registration Center as well as the Huangwu Subdistrict Office, Zhifu District, Yantai City were in the midst of coordinating among themselves to resolve the issues of the Application as well as to give final approval on the Application, if approved.

There was no confirmation given by any of the government officer on the completion date of the Application. Thus, the Board is unable to ascertain the completion date of the Transfer.

China Ouhua will proactively follow up with the relevant government authorities of the PRC to ensure the land title ownership is transferred to Yantai Ouhua.

Barring any unforeseen circumstances, the Board is of the view that the whole process should be able to complete within six (6) months from the date of this announcement.

 






Announcement Info

Company Name CHINA OUHUA WINERY HOLDINGS LIMITED
Stock Name CNOUHUA
Date Announced 30 Apr 2020
Category General Announcement for PLC
Reference Number GA1-30042020-00017