Global Sources Signs Agreements for Three Real Estate Transactions

Global Sources Ltd. (NASDAQ: GSOL) has signed agreements to conduct three real estate transactions. (Logo: http://photos.prnewswire.com/prnh/20030303/LNM011LOGO-b ) Global Sources' executive chairman, Merle A. Hinrichs, said: "Today we are announcing three strategic transactions that improve the balance of our real estate holdings. We are selling underutilized property that has appreciated substantially, providing the company with significant capital gains. We are also purchasing property that we currently lease for operational use, which reduces our exposure to potential rental increases." Sale of 46th Floor of Excellence Times Square, Shenzhen The company has signed a letter of intent for the sale of its property on the 46th floor of Excellence Times Square in Shenzhen, China, comprising 1,939.38 square meters of office space, for a total sale price of approximately $19.3 million. The transaction is subject to the formal sale and purchase agreement being signed on or before April 30, 2013 and the buyer's full payment of the purchase price being made on or before May 7, 2013. The transaction is expected to provide a capital gain, net of related tax expenses, of approximately $8.5 million. Sale of Office Units and Car Parking Spaces in Southmark, Hong Kong The company has See full press release