19 Jul 2013 14:08
19 July 2013
ASIAN GROWTH PROPERTIES LIMITED
Disclosure of the Directors' Deemed Shareholding Interests
The board of directors of Asian Growth Properties Limited (the "Company") (AIM Stock Code: AGP), the Hong Kong based China property development and investment company, announces that the Company has today received notifications from the following executive directors of the Company reporting their respective deemed interests in the ordinary shares of US$0.05 each in the Company (the "Shares"):
(1) S E A Holdings Limited ("SEA") is beneficially entitled to about 97.17% of the existing issued share capital of the Company.
(2) On 16 July 2013, Nan Luen International Limited ("NLI") has acquired additional SEA shares (the "Acquisition"). Immediately before the Acquisition, NLI had diluted interest of 61.03% in the issued share capital of SEA as a result of the issue of new SEA shares by SEA to certain option holders who had exercised their subscription rights in early July 2013. Immediately after the Acquisition, NLI has increased its shareholding interest in SEA to about 61.08%.
(3) JCS Limited ("JCS") is interested in 63.58% of the issued share capital of NLI which in turn is interested in 61.08% of the issued share capital of SEA.
(4) NYH Limited ("NYH") is interested in 25% of the issued share capital in each of the two companies which in turn are interested in a total of 1.233% of the issued share capital of SEA.
(5) Immediately after the Acquisition, Mr. Lu Wing Chi, an executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 282,294,481 Shares, representing approximately 31.85% of the existing issued share capital of the Company, by virtue of his following interests:
(i) 1.48% direct shareholding interest in SEA;
(ii) 30% direct shareholding interest in NLI;
(iii) 32.61% direct shareholding interest in JCS; and
(iv) 100% direct shareholding interest in NYH.
(6) Immediately after the Acquisition, Mr. Lambert Lu, an executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 64,808,650 Shares, representing approximately 7.31% of the existing issued share capital of the Company, by virtue of his following interests:
(i) 0.50% direct shareholding interest in SEA;
(ii) 3.21% direct shareholding interest in NLI; and
(iii) 13.04% direct shareholding interest in JCS.
For more information, please contact:
Lu Wing Chi Tel: +852 2828 6363
Executive Director
Asian Growth Properties Limited
Richard Gray Tel: +44 207 886 2500
Andrew Potts
Panmure Gordon (UK) Limited
(Nominated Advisor)