Sales Agency Relationship (4611E)
30 Maggio 2012 - 6:18PM
UK Regulatory
TIDMACHP
RNS Number : 4611E
Asia Ceramics Holdings PLC
30 May 2012
Asia Ceramics Holdings plc
('Asia Ceramics' or 'the Company')
Sales Agency Relationship
The Company announces that it has entered into a sales agency
relationship with Louis Valentino Investment and Development
Company Limited (LVID), a subsidiary company of China Ceramics
Holdings plc, a company that is owned and controlled by Dr Tom Pu,
chief executive of Asia Ceramics.
During the course of the year ended 31 December 2011, Asia
Ceramics sold to LVID goods to the value of $2.7m and since the
year end to the value of $1.98m for onward sale to third parties.
The goods were sold on to third parties by LVID for the same value
as it purchased them from Asia Ceramics.
These sales transactions are related party transactions under
the AIM Rules. The independent directors, being the directors of
the Company other than Dr Pu, consider, having consulted with WH
Ireland, that the terms of the transactions are fair and reasonable
insofar as its shareholders are concerned.
Enquiries:
Frank Lewis , Chairman Asia Ceramic Holdings plc Tel: 07785 273
111
Shawn Wu, CFO Asia Ceramics Holdings Tel: 86-10-68531389
plc
James Joyce WH Ireland Limited Tel: 020 7220 1666
This information is provided by RNS
The company news service from the London Stock Exchange
END
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