Peixin International Group N.V.
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Publicatie datum
01 jul 2015 - 23:40
Statutaire naam
Peixin International Group N.V.
Titel
Information on the investment plan performance
Bericht
With reference to the information provided in the current report No. 11/2014 concerning agreement on a land use right as well as in regard to information provided in periodic reports of Peixin International Group N.V. (the "Company"), the Management Board of the Company informs that by the end of 30 June 2015 the Company did not receive from the local Chinese government any settlements concerning new schedule of investment plan. According to the land purchase agreement described in current report No. 11/2014 the Company is under the process of the investment in the new plant, nevertheless because of delays in expenditures which supposed to be made by the local government into the infrastructure, on a zone were the Company’s plot is located, like wiring installation, water-supply system, etc., the initial investments planned by the Company had to be postponed. At the moment the Company conducts consultations with the local government concerning modification of the investment schedule in the new plant, but the consultations are not finalized yet. Taking into consideration foregoing pace in progress of the consultations with the government, the Company doesn’t expect their finalization in this year.
In regard to the agreement on land use right the Company reminds that in terms of investment scope, Peixin BVI was required particularly to invest no less than RMB 250m (EUR 29.2m) in the construction by 30 June 2015. Nevertheless because of delays in expenditures which supposed to be made by the local government and changing investment schedule, except insignificant levelling costs the Group of the Peixin didn’t incur expenditures concerning construction of a new production facility.
Datum laatste update: 25 maart 2025