ACHP Asia Ceramics

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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