FOSUN INTERNATIONAL LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
Reference is made to the announcements of Fosun International Limited (the 'Company') dated 29 December 2011, 30 May 2012, 24 April 2013 and 23 September 2015 in relation to the litigation of the Bund 8-1 Land in Shanghai (the 'Relevant Litigation').
The Group received the civil judgment (the 'Judgment') dated 5 November 2015 made by the Shanghai High People's Court (the 'High People's Court') in relation to the Relevant Litigation. The High People's Court permitted Zhejiang Fosun Commerce Development Limited ('Zhejiang Fosun') to waive all its litigation claims and revoked the Shanghai No.1 Intermediate People's Court (2012) Hu Yi Zhong Min Si (Shang) Chu Zi No. 23 civil judgment. The Judgment is final.
Reference is made to the announcements of the Company dated 29 December 2011, 30 May 2012, 24 April 2013 and 23 September 2015 in relation to the Relevant Litigation. Capitalized terms used in this announcement have the same meanings as defined in the above mentioned announcements, unless the context requires otherwise.
The Group received the Judgment made by the High People's Court. The High People's Court permitted Zhejiang Fosun to waive all its litigation claims and revoked the Shanghai No.1 Intermediate People's Court (2012) Hu Yi Zhong Min Si (Shang) Chu Zi No. 23 civil judgment. The Judgment is final.
When the case was being heard, Zhejiang Fosun submitted a declaration to the High People's Court that, from a commercial perspective, it considered that the equity transaction in contest no
longer harmed the company's pre-emptive rights to acquire 50% equity interest in Haizhimen. It therefore recognized the deal as reached among Chang Ye, Chang Sheng, Jiahe and Zendai Land in respect of the acquisition of the equity interest in Zendai Wudaokou and Greentown. Based on the above submissions, Zhejiang Fosun waived all the claims it raised during the first instance.
The High People's Court was of the view that the actions of Zhejiang Fosun do not violate the prohibitions contained in the laws and regulations, and no circumstances which would damage the national interests, social and public interests and the lawful rights and interests of others exists, and therefore, granted the permission. In light of the above, all disputes among the parties to the Relevant Litigation ceased to exist and permission was granted to revoke the original judgment. In conclusion, the High People's Court made the judgments, among others, as follows:
Permitted Zhejiang Fosun's (as the respondent) application to waive all its claims;
The civil judgment given by Shanghai No.1 Intermediate People's Court (2012) Hu Yi Zhong Min Si (Shang) Chu Zi No. 23 was revoked.
The Judgment is final.
For further information in relation to the latest development in the Group's investment in the Bund 8-1 Land in Shanghai, please refer to the announcement of the Company titled 'DISCLOSEABLE TRANSACTION IN RELATION TO ACQUISITION OF 100% EQUITY INTEREST IN SHANGHAI BUND REAL ESTATE' dated 23 September 2015.
By Order of the Board
Fosun International Limited Guo GuangchangChairman
Shanghai, the PRC, 6 November 2015
As at the date of this announcement, the executive directors of the Company are Mr. Guo Guangchang, Mr. Liang Xinjun, Mr. Wang Qunbin, Mr. Ding Guoqi, Mr. Qin Xuetang, Mr. Chen Qiyu and Mr. Xu Xiaoliang; and the independent non-executive directors are Mr. Zhang Shengman, Mr. Zhang Huaqiao, Mr. David T. Zhang and Mr. Yang Chao.
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