PARKSON RETAIL GROUP 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.
百盛商業集團有限公司
(Incorporated in the Cayman Islands with limited liability)
(Stock code: 03368 & 05936)
This announcement is made by Parkson Retail Group Limited (the "Company" and, together with its subsidiaries, the "Group") pursuant to the inside information provisions under Part XIVA of the Securities and Futures Ordinance (Cap 571 of the Laws of Hong Kong) and Rule 13.09(2)(a) of The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. Unless the context otherwise requires, capitalised terms used in this announcement have the same meanings given to them in the announcement of the Company dated 31 March 2015 and the announcement of the Company dated 24 April 2015 (the "April Announcement").
In the April Announcement, it was announced, among other things, that the Tenant submitted an application for Revocation to the Second Intermediate Court of Beijing (the "Court") on 22 April 2015.
On 25 December 2015, the Court delivered a ruling rejecting the application for the Revocation. The ruling given by the Court is final and no further appeal can be made by either the Landlord or the Tenant under PRC law. As a result of the ruling of the Court, the Tenant must, among other things pay the rental and the arbitration fee as described in the section headed "The Arbitral Award" in the announcement of the Company dated 31 March 2015. As at the date of this announcement, the total amount payable by the Tenant under the Arbitral Award is approximately RMB141 million. The Board is of the opinion that the ruling given by the Court does not have material adverse impact on the business and operation of the Group.
By Order of the Board
PARKSON RETAIL GROUP LIMITEDTan Sri Cheng Heng Jem Executive Director & Chairman
27 December 2015
As at the date of this announcement, the Executive Directors of the Company are Tan Sri Cheng Heng Jem, Mr. Chong Sui Hiong and Ms. Juliana Cheng San San, the Non-executive Directors are Datuk Lee Kok Leong and Dato' Dr. Hou Kok Chung and the Independent Non-executive Directors are Mr. Ko Tak Fai, Desmond, Mr. Yau Ming Kim, Robert and Dato' Fu Ah Kiow.
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Parkson Retail Group Ltd. issued this content on 2015-12-27 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2015-12-27 10:39:06 UTC
Original Document: http://www.parksongroup.com.cn/upload/201512/145120857119096300.pdf
