Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

DISCLOSEABLE TRANSACTION SUCCESSFUL TENDER OF LAND

The Board is pleased to announce that on 16 May 2017, Century Base, a wholly owned subsidiary of the Company, received the Letter from the Lands Department of the Government of Hong Kong confirming that its tender for the Land (which is situated at Murray Road, Central, Hong Kong) at the Land Premium of HK$23,280,000,000 has been accepted.

As two of the applicable percentage ratios as defined under Rule 14.07 of the Listing Rules in respect of the Acquisition exceed 5% but all are less than 25%, the Acquisition constitutes a discloseable transaction for the Company and is subject to the announcement requirement under Chapter 14 of the Listing Rules.

INTRODUCTION

The Board is pleased to announce that on 16 May 2017, Century Base, a wholly owned subsidiary of the Company, received the Letter from the Lands Department of the Government of Hong Kong confirming that its tender for the Land (which is situated at Murray Road, Central, Hong Kong) at the Land Premium of HK$23,280,000,000 has been accepted.

DETAILS OF THE CONDITION OF SALE AND THE ACQUISITION The parties
  1. the Government of Hong Kong as the vendor, a third party independent of the Company and its connected persons

  2. Century Base, a wholly owned subsidiary of the Company as purchaser

Information on the Land

Location : Murray Road, Central, Hong Kong registered in the Land Registry as Inland Lot No. 9051

Site area : Approximately 2,880 square metres (equivalent to approximately 31,000 square feet)

Maximum Gross Floor Area: : Approximately 43,200 square metres (equivalent to

approximately 465,000 square feet)

Term : 50 years from the date of the Memorandum of Agreement Car parking spaces : 102 car parking spaces and 69 motorcycle parking spaces

Permitteduse :Non-industrial (excluding residential, godown and petrol filling station) purposes

Under the terms of the Conditions of Sale, Century Base shall enter into the Memorandum of Agreement with the Government of Hong Kong in respect of the Acquisition within 14 days from the date of the Letter.

Land Premium and the payment terms

The Land Premium payable is HK$23,280,000,000 to be settled as follows:-

  1. A deposit of HK$25 million paid at the time when the Tender was submitted has been applied in part payment of the Land Premium; and

  2. the remaining balance of HK$23,255,000,000 shall be paid within 28 days of the date of the Letter.

The Land Premium submitted under the Tender was determined by the Company with reference to the current and future business prospect and development potential in the region which the Land is situated and the overall prospect of the property market in Hong Kong.

The Land Premium will be funded by the Group's internal resources and bank financing.

REASONS FOR AND BENEFITS OF THE ACQUISITION

Property development and investment are among the principal activities of the Group. The Company is optimistic of the long term prospect of this investment. The site will be developed into a landmark office building with retail facilities and is expected to be completed in around 2022. The Board believes that the terms of the Condition of Sale are on normal commercial terms, and the Acquisition is fair and reasonable and in the interests of the Company and its shareholders as a whole.

GENERAL INFORMATION

Century Base is a company incorporated in Hong Kong with limited liability. The principal activities of Century Base are property holding and investment.

The Company is an investment holding company and its subsidiaries are principally engaged in the businesses of property development and investment, construction, hotel operation, finance, department store operation, project management, investment holding and property management.

IMPLICATIONS UNDER THE LISTING RULES

As two of the applicable percentage ratios as defined under Rule 14.07 of the Listing Rules in respect of the Acquisition exceed 5% but all are less than 25%, the Acquisition constitutes a discloseable transaction for the Company and is subject to the announcement requirement under Chapter 14 of the Listing Rules.

DEFINITIONS

In this announcement, unless the context otherwise requires, the following expressions have the following meanings:-

"Acquisition" the acquisition of the Land under the terms of the Conditions of Sale "Board" the board of Directors

"Company" Henderson Land Development Company Limited (恒基兆業地產有限

公司), a company incorporated in Hong Kong with limited liability, the shares of which are listed on the Stock Exchange

"Conditions of Sale" the agreement and conditions of sale of the Land as set out in the Tender documents

"Director(s)" the director(s) of the Company

"Century Base" Century Base Development Limited ( 耀基發展有限公司 ), a company incorporated in Hong Kong with limited liability and a wholly owned subsidiary of the Company

"Group" The Company and its subsidiaries

"HK$" Hong Kong dollar, the lawful currency of Hong Kong

"Hong Kong" the Hong Kong Special Administrative Region of the People's Republic of China

"Land" a piece of land located at Murray Road, Central, Hong Kong registered in the Land Registry as Inland Lot No. 9051

"Land Premium" the land premium of HK$23,280,000,000, being the consideration for the Acquisition

"Letter" a letter notifying the acceptance of the Tender from the Lands Department, the Government of Hong Kong, dated 16 May 2017

"Listing Rules" Rules Governing the Listing of Securities on the Stock Exchange

"Memorandum of Agreement"

the memorandum of agreement to be entered into between the Government of Hong Kong and Century Base in respect of the Acquisition

"Stock Exchange" The Stock Exchange of Hong Kong Limited

"Tender" sale of the Land by the Government of Hong Kong by way of public tender

By Order of the Board

Timon LIU Cheung Yuen

Company Secretary

Hong Kong, 16 May 2017

As at the date of this announcement, the board of directors of the Company comprises: (1) executive directors: Lee Shau Kee (Chairman), Lee Ka Kit, Lam Ko Yin, Colin, Lee Ka Shing, Yip Ying Chee, John, Suen Kwok Lam, Fung Lee Woon King, Lau Yum Chuen, Eddie, Kwok Ping Ho and Wong Ho Ming, Augustine; (2) non-executive directors: Lee Pui Ling, Angelina and Lee Tat Man; and (3) independent non-executive directors: Kwong Che Keung, Gordon, Ko Ping Keung, Wu King Cheong, Woo Ka Biu, Jackson, Leung Hay Man and Poon Chung Kwong.

Henderson Land Development Company Ltd. published this content on 16 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 May 2017 12:12:27 UTC.

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