Hong Kong, SAR VR of China, 08 December, 2016 (pta009/08.12.2016/15:40) - Euro Asia Premier Real Estate Company Limited (JT9; ISIN: VGG3223A1057) publishes that the acquisition of Yanxi Industrial Shanghai Company Ltd ("Yanxi") announced on June 02, and July 08, 2016, has been annulled indefinitely due to Yangxi's inability to form a Sino-Foreign Joint Venture so far.
Due to the cessation of this acquisition, the purchase price of Yanxi, 1.26 million shares of Euro Asia, will not be issued. Concurrently, the private placement previously announced will be annulled until Euro Asia is able to identify a new course of business direction for the use of funds and the placee will be re-invited to join the new placement.
Subsequently, both Mr. Shen Jie and Ms. Sun Yao will leave the Company and Mr. Patrick Chan will resume the position of Chairman and Chief Executive Officer of the Company.(end)