Breadtalk

Breadtalk: Grp announced that it has entered into a JV with a consortium of investors comprising Perennial Real Estate Holdings, Bright Assets Enterprises, Ace Novel Developments (subsidiary of Shun Tak Holdings), Mr Ron Sim and Mr Ronald Ooi both in their personal capacities, in connection with the development of a mixed-use project on three plots of land in BJTZ namely plots 10, 11 and 12 (collectively known as “Phase 2”). The grp will subscribe for 14,520 ordinary shares in the capital of Perennial Tongzhou at $1,000 per share, with its total investment amount at $14.5m. Add that PRC is a key market for the Group’s future growth and this investment will help to build its presence in a major city where it operates its own stores in addition to benefiting from asset appreciation in the future. The Proposed Investment would also give the Group a first right of refusal to prime retail space to showcase all or some of its brands, including new concepts, and allows the Group the opportunity to integrate upstream along the retail supply chain by co-investing with industry veterans in markets that are crucial to the Group’s growth.