AGP.L Regulatory News (AGP)

8 Oct 2007 09:56

Asian Growth Properties Limited08 October 2007 8th October, 2007 Asian Growth Properties Limited Changes of Significant Shareholders' Interests and a Director's Deemed Shareholding Interest The board of directors of Asian Growth Properties Limited (the "Company") (AIMStock Code: AGP), the Hong Kong based China property development and investmentcompany, announces that the Company received notifications of the interests inthe ordinary shares of US$0.05 each in the Company ("Shares") today as follows: A. Change of Significant Shareholders' Interests (1) S E A Holdings Limited ("SEA") would be beneficially entitled to, in aggregate, 861,228,859 Shares which represent approximately 97.17% of the existing issued share capital of the Company immediately after the completion of the acquisition as mentioned in paragraph (2) below; (2) Manifold Returns Group Limited ("MRG"), a wholly-owned subsidiary of SEA, had contracted to acquire 2,712,673 Shares which represent approximately 0.31% of the existing issued share capital of the Company from an independent third party at a price of 29.5 pence each on 4th October, 2007 and expected that the said acquisition would be completed on or about 9th October, 2007; and (3) 668,653,817, 175,094,641, 9,310,594 and 5,457,134 Shares, which represent approximately 75.44%, 19.75%, 1.05% and 0.62% respectively of the existing issued share capital of the Company and are owned by SEA, are held through SEA's wholly-owned subsidiaries Charm Action Holdings Limited, SEA (AGP) Offshore Limited, MRC and Harbour Green Holdings Limited respectively. B. Change of a Director's Deemed Shareholding Interest (1) As a result of the change of SEA's shareholding in the Company immediately after the completion of MRC's acquisition abovementioned, Mr. Lu Wing Chi ("Mr. Lu"), an executive director of the Company and persons connected with him will be deemed to be beneficially interested in 225,937,363 Shares which represent approximately 25.49% of the existing issued share capital of the Company; and (2) Mr. Lu is deemed interested in the said Shares by virtue of (i) his 6.52% direct shareholding interest in JCS Limited ("JCS"), (ii) him being a discretionary beneficiary of a discretionary trust which owns 26.09% of the issued shares of JCS, and (iii) his 30% direct shareholding interest in Nan Luen International Limited ("NLI"). JCS is interested in 63.58% of the issued shares of NLI which in turn is interested in 51.71% of the issued shares of SEA. For more information: Lu Wing Chi Tel: +852 2828 6363Executive DirectorAsian Growth Properties Limited Richard Gray Tel: +44 207 459 3600Andrew PottsPanmure Gordon & Co(Nominated Advisors) This information is provided by RNS The company news service from the London Stock Exchange