PACL.L Share Price (PACL)

humungous volume on here(not to be confused with pax.lol)

17 September 2013 Pacific Alliance China Land Limited Unaudited results for the six months ended 30 June 2013 Pacific Alliance China Land Limited ("PACL" or the "Company"), an AIM-traded, closed-end investment company with a portfolio of investments including existing properties, new developments, distressed projects and real estate companies in Greater China, has today announced its financial results for the six months to 30 June 2013. Highlights -- Net asset value as at 30 June 2013 was US$304 million, representing US$2.31 per share, a 2.7% increase from 31 December 2012 (US$298 million) and a 7.4% increase year-on-year (30 June 2012; US$301.5 million, representing US$2.16 per share). -- The Company's share price closed at US$1.70, a 24% increase year-on-year and a 27% discount to the unaudited NAV per share as at 30 June 2013. -- PACL's NAV and share price have both consistently outperformed major benchmark indices including the FTSE 350 Real Estate Index and the FTSE AIM All-Share Index since inception. -- PACL was rated the best performing China Real Estate Fund by Morningstar in April 2013, in recognition of the Company's 16.2% compound annual NAV growth. Portfolio and Fund Developments -- The share price of Project Crystal, PACL's most recent addition to the portfolio, continued its upward trend in the first quarter of 2013, with quarter-on-quarter increases of 7.2% in Q1 and 7.63% in Q2. -- PACL received a total US$9.6 million repayment from the Project Speed exchangeable notes in the first half of 2013. To date, the borrower has repaid the Consortium 95% of the principal. -- Improved rental rates driven by a strong market for high quality serviced apartment buildings in Beijing has resulted in an approximate 1.8% increase in the property value of Project Diplomat from RMB1.88 billion at Q1 to RMB1.914 billion. Patrick Boot, Managing Director, Pacific Alliance Real Estate Limited commented that: "China's commercial property sector remains largely insulated from the policy risks of a government focused on cooling residential real estate, and as such continues to perform well. Retail rents in major first tier cities continue to rise, office rents remain high in prime/sub prime locations in Beijing and Shanghai and investor appetite for quality commercial properties remains strong." "Despite slower economic growth in China, the Company remains confident that its experience across previous market cycles, its dedicated asset management capability and dynamic multi-strategy approach will continue to identify new opportunities and deliver long-term value to shareholders." For further information please contact: MANAGER: LEGAL COUNSEL: Patrick Boot, Managing Jon Lewis, General Counsel Partner PAG Pacific Alliance Real T: (852) 2918 0088 Estate Limited jlewis@pagasia.com T: (852) 291

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These proposals provide Shareholders with a choice; they can either remain a shareholder of the Company and receive an increased annual dividend, or cease to be a shareholder of the Company but continue to hold an interest in the current portfolio and receive distributions from investments upon realisation. Summary of Key Proposals Increase in Company's annual dividend yield The Company is proposing to amend its annual dividend policy so that Shareholders receive a substantial increase in the annual dividend yield from the current 6 per cent. up to a proposed 12 per cent. of Net Asset Value paid annually (the "Dividend Increase"). The purpose of the Dividend Increase is to provide an even more attractive income stream, increase liquidity and help close the discount between the current Ordinary Share market price and Net Asset Value per Ordinary Share. A dividend of up to 12 per cent. of the prevailing Net Asset Value would represent a dividend yield of approximately 20 per cent. at the Ordinary Share market price on 4 February 2009.

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