AGP.L Regulatory News (AGP)

RNS Number : 2827J

Asian Growth Properties Limited

01 December 2008

 

1st December, 2008

 

 

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 250,972,424 Shares which represent about 28.32% 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 27th and 28th November, 2008;

 

(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 a beneficial owner of a wholly-owned company which indirectly owns 26.09% of the issued shares of JCS through a discretionary trust, and (iii) his 30% direct shareholding interest in NLI. JCS is interested in 63.58% of the issued shares of NLI; and

 

(4) Immediately before 27th November, 2008, NLI was interested in 57.39% of the issued shares of SEA. On 27th and 28th November, 2008, coincident with the exercise by a warrant-holder of its rights for subscribing for SEA shares attached to the 2008 SEA warrants, NLI purchased additional SEA shares. Immediately thereafter, NLI increased its shareholding in SEA to about 57.44% having taken into account the dilutive effect of the said exercise on NLI’s equity interest in SEA. As a result, Mr. Lu is deemed to have increased his beneficial interest in Shares to 250,972,424 Shares (representing approximately 28.32% 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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