Intent for Partial Sale of Land in Niseko

RNS Number : 5865K

Symphony International Holdings Ltd

30 August 2019

 

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

Symphony International Holdings Limited ("Symphony")

30 August 2019

Letter of Intent for Partial Sale of Land in Niseko 

Symphony International Holdings Limited (LSE: SIHL) is pleased to announce that the Niseko Property Joint Venture, in which it holds a 37.5% interest, has entered into a non-binding letter of intent to sell approximately 50% of its development land site.  

The joint venture's development land site was acquired in stages between 2011 and 2012 and is located in the Hirafu area of Niseko, which is a premier ski destination in Asia that also attracts visitors all-year-round. The terms in the non-binding letter of intent value the entire development land site at a substantial premium to its cost. 

For further information:

Anil Thadani                                             [phone]

Symphony Asia Holdings Pte. Ltd.

Numis Securities Limited:

Hugh Jonathan                                          [phone]

Nathan Brown

About Symphony

Symphony is a London listed strategic investment company that invests in a wide variety of businesses in the healthcare, hospitality and lifestyle ("HH&L") sectors (including branded real estate developments), which are principally in Asia. It offers a way for investors to gain exposure to businesses that benefit from the rising disposable incomes and wealth creation in the fast growing economies of Asia. Symphony's objective is to provide superior capital growth by investing in high quality companies and forming long-term business partnerships with talented entrepreneurs. Symphony is managed by Symphony Asia Holdings Pte. Ltd., which has a team of investment professionals with a broad range of expertise - many of them have been working in Asia for more than 25 years. For more information, please visit our website at www.symphonyasia.com

No representation or warranty is made by the Company as to the accuracy or completeness of the information contained in this announcement and no liability will be accepted for any loss arising from its use.

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Company in any jurisdiction. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decisions.

This announcement is not an offer of securities for sale into the United States. The Company's securities have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There will be no public offer of securities in the United States.

The Company and the Investment Manager are not associated or affiliated with any other fund managers whose names include "Symphony", including, without limitation, Symphony Financial Partners Co., Ltd.

End of Announcement

 

END

 

 

MSCPGUGARUPBGUB