AGP.L Regulatory News (AGP)

16 Oct 2009 11:10

16th October, 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 258,575,353 Shares which represent about 29.17% of the existing issued share capital of the Company as a result of Nan Luen International Limited ("NLI") increasing its shareholding interest in S E A Holdings Limited ("SEA") on 13th October, 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 32.61% direct shareholding interest in JCS Limited ("JCS"), and (ii) his 30% direct shareholding interest in NLI. JCS is interested in 63.58% of the issued shares in NLI; and 

(4) Immediately before its purchase of further shares in SEA on 13th October, 2009, NLI had a diluted interest of 59.06% in the issued share capital of SEA as a result of the issue by SEA on several occasions of new SEA shares to certain option holders who had exercised their subscription rights. On 13th October, 2009, NLI purchased additional SEA shares and immediately thereafter increased its shareholding in SEA to about 59.18%.  As a result, Mr. Lu is deemed to have increased his beneficial shareholding interest to 258,575,353 Shares (representing approximately 29.17% 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)