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Tuesday, 8 August 2017, 19:56 HKT/SGT
Special Resolution to Change Name from "Lifestyle Properties Development Limited" to "Sansheng Holdings (Group) Co Ltd" Passes at EGM Today

HONG KONG, Aug 8, 2017 - (ACN Newswire) - Lifestyle Properties Development Limited ("Lifestyle Properties" or the "Company" together with its subsidiaries, the "Group")( Stock Code: 2183.HK), is pleased to announce that the EGM held on 8 August 2017 passed the proposal to change the official registered English name of the Company from "Lifestyle Properties Development Limited" to "Sansheng Holdings (Group) Co. Ltd." and the Chinese name of the Company "Lifestyle Properties Development Limited" replaced by "Sansheng Holdings (Group) Co. Ltd." .

Mr. Lin Rongbin, the founder and president of Fuzhou Sansheng Investment Co. Ltd. , acquired 59.56% of the issued share capital of the Company at HK$1,293 million or HK$5.18 per share on April this year.

After the acquisition, the Company intends to remain listed on the Main Board of the Stock Exchange and will further explore possible business opportunities and strive for a sustainable development of the Group.

The board of Sansheng Holdings believes that, "The acquisition and renaming is a new page for the Company, and makes "Sansheng" truly become a listed brand. The Company starts to develop with faster pace and link with the global capital market. Looking forward, the board believes that the Company will have more business opportunities in the capital market and the Company will be committed to the business strategy of "branding, large-scale, and globaliztion" , so as to create greater value for investors and shareholders.

Throughout the years, Sansheng has been positioning to be the "China's Family Health Integrated Service Operator", and has grasped the gradual upgrade of China's urbanization trend. The Company continues to build high-quality habitat community, and committed themselves to create an ideal way of life for Chinese families. With its outstanding real estate operating capacity, the Company has been honored with "China Quality Typical Real Estate", "Top Ten National Performance", "Top 100 Chinese Real Estate Enterprises" and so on for consecutive years.

The proposed change of company name will take effect from the date on which the Registrar of Companies in the Cayman Islands enters the new English name and Chinese name of the Company on the register in place of the existing English name and Chinese name of the Company.

Aug 8, 2017 19:56 HKT/SGT
Topic: Press release summary
Sectors: Daily News
From the Asia Corporate News Network

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