Fong, Mona 方逸華
Shaw Brothers proposes sale of "agricultural land" to Mona Fong
Company announcement, 13-Aug-2008
The announcement does not disclose what value the land would have on a redevelopment basis. It remains unclear whether the land would still fit within the Listing Rules exemption from minority shareholders' approval if it was revalued for its development potential. Thankfully, the company is under a possible takeover offer, so the transaction requires minority shareholder approval under the Takeover Code.
Company announcement, 13-Aug-2008
The announcement does not disclose what value the land would have on a redevelopment basis. It remains unclear whether the land would still fit within the Listing Rules exemption from minority shareholders' approval if it was revalued for its development potential. Thankfully, the company is under a possible takeover offer, so the transaction requires minority shareholder approval under the Takeover Code.
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