SOHO China (HKG:0410) served with doc of summons


Referring to its previous announcements in relation to the Bund 8-1 land, SOHO China (HKG:0410) said that, on 4 June 2012, Shanghai Chang Ye, Shanghai Chang Sheng, Zendai Wudaokou and Greentown Hesheng (all of them wholly owned by SOHO China) were served with a document of summons issued by Shanghai No. 1 Intermediate People's Court to attend a hearing at 9:00 a.m. on 2 August 2012 in relation to the court action initiated by Zhejiang Fosun, relating to disputes on asset damage and compensation.

As advised by SOHO China's PRC legal advisers, the acquisition does not involve a transfer of equity interest in Haizhimen and therefore, the transfer of the entire equity interests in Zendai Wudaokou and Greentown Hesheng by the vendors to the SOHO China group does not constitute a breach of any pre-emptive rights and hence the claims are without bases. SOHO China considers that the claims do not have any material adverse effect on its operation or financial position.

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