20 August 2015
For Immediate Release
ARC Capital Holdings Limited ("ARCH") (AIM: ARCH) announced on 9 July 2015 that it had been advised that Orient Home Co., Ltd ("Orient Home") had filed an application with the Beijing Second Intermediate Court to set aside the award which was previously made by the China International Economic and Trade Arbitration Commission
("CIETAC") in favour of Shanghai C.P. Jing Cheng Enterprise Development Co. Ltd. ("Shanghai CP JC") (a subsidiary of ARCH) on 16 June 2015 in respect of the refund of a RMB480 million deposit relating to the acquisition of a majority stake in Orient Home Industrial Co., Ltd ("Orient Home Property") in December 2010.
The Board of ARCH is pleased to announce that it has been advised that the Beijing Second Intermediate Court has
rejected Orient Home's application. ARCH intends to continue with the enforcement of the original CIETAC award. Further updates on this matter will be provided in due course.
For further information, please contact:
ARC Capital Holdings Limited
Alpay Ece / Sean Hurst
Tel: +44 (0)20 7845 5950
William Marle
Tel: +44 (0)20 7845 5950
John Armstrong-Denby
Tel: +44 (0)20 7845 5950
Hiroshi Funaki
Tel: +44 (0)20 7845 5960
Philip Secrett
Tel: +44 (0)20 7383 5100
philip.j.secrett@uk.gt.com
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