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3 Mar 2009 11:53
RNS Number : 2227O
Asian Growth Properties Limited
03 March 2009
3rd March, 2009
ASIAN GROWTH PROPERTIES LIMITED
Change of a Director's Deemed Shareholding Interest
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 notification from Mr. Lu Wing Chi ("Mr. Lu"), an executive director of the Company of the change of his deemed interest in the ordinary shares of US$0.05 each in the Company ("Shares") as follows:
(1) Mr. Lu and the persons connected with him are presently deemed to be beneficially interested in 255,778,943 Shares which represent about 28.86% of the existing issued share capital of the Company as a result of the change of the shareholding of Nan Luen International Limited (“NLI”) in S E A Holdings Limited (“SEA”) on 27th February, 2009;
(2) SEA is beneficially entitled to, in aggregate, about 97.17% of the existing issued share capital of the Company;
(3) Mr. Lu is deemed interested in the Shares by virtue of (i) his 6.52% direct shareholding interest in JCS Limited (“JCS”), (ii) him being the beneficial owner of a company which indirectly owns 26.09% of the issued shares in JCS through a discretionary trust, and (iii) his 30% direct shareholding interest in NLI. JCS is interested in 63.58% of the issued shares in NLI; and
(4) On 27th February, 2009, certain SEA shares in issue were cancelled following SEA’s repurchases. Immediately before the aforementioned event, NLI was interested in 57.98% of the issued shares in SEA. Immediately after the aforesaid event, NLI was interested in 58.54% of the issued shares in SEA. Accordingly, Mr. Lu is deemed to have increased his beneficial interest in Shares to 255,778,943 Shares (representing approximately 28.86% of the issued share capital of the Company).
For more information, please contact:
Lu Wing Chi Tel: +852 2828 6363
Executive Director
Asian Growth Properties Limited
Richard Gray Tel: +44 207 459 3600
Andrew Potts
Panmure Gordon (UK) Limited
(Nominated Advisor)
This information is provided by RNS
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