31st Jan 2011 09:30
31 January 2011
Asian Citrus Holdings Limited
("Asian Citrus" or "the Company")
Supplemental Memorandum of Understanding
Further to its announcement on 15 April 2010 relating to the Proposed Acquisition of a citrus fruit plantation in Fuchuan County in the Guangxi Zhuang Autonomous Region in the PRC, the Board of Asian Citrus announces that the Company and Vendor have entered into a non-legally binding Supplemental Memorandum of Understanding pursuant to which Vendor has agreed to extend the exclusivity period for the sale and transfer of the plantation from 31 January 2011 to 30 April 2011.
The Board wishes to emphasize that no legally binding agreement in relation to the Proposed Acquisition has been entered into as at the date of this announcement. The final terms of the Formal Agreement (if any), including but not limited to the consideration, in relation to the Proposed Acquisition, have yet to be determined and finalised. Further announcements will be made in due course.
For further information please contact:
Asian Citrus | |
Eric Sung, Finance Director | +852 2559 0323 |
Seymour Pierce Limited | |
Nandita Sahgal, Jonathan Wright (NOMAD) | 020 7101 8000 |
Leti McManus, Richard Redmayne, Vineeta Manchanda (Broking)
| |
Weber Shandwick Financial | 020 7067 0700 |
Nick Oborne, Stephanie Badjonat, John Moriarty |
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