Haichang Ocean Park Holdings Ltd. acquired three land plots in Lingang Main City Zone from Shanghai Municipal Bureau of Planning and Land Resources for approximately CNY 730 million.
Haichang Ocean Park will satisfy the consideration from the net proceeds obtained from the Listing of Haichang Ocean Park. The transaction is exempt from the shareholders' approval requirement. The Land Plot One will be delivered to Haichang Ocean Park within 40 business days from the execution of the Land Grant Contract One. The Land Plot Two and the Land Plot Three will be delivered to Haichang Ocean Park within 40 business days from the execution of the Land Grant Contract Two. As on September 16, 2015, the project for Shanghai Haichang Polar Ocean Park was formally approved as a prerequisites for subsequent construction application.
Haichang Ocean Park Holdings Ltd. (SEHK:2255) completed the acquisition of three land plots in Lingang Main City Zone from Shanghai Municipal Bureau of Planning and Land Resources on January 16, 2015.