16 Apr 2014 09:11
16 April 2014
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 received notifications from the following directors of the Company reporting their respective deemed interests in the ordinary shares of US$0.05 each in the Company (the "Shares") as follows:
(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 11 April 2014, Mr. Lambert Lu, an executive director of the Company, has acquired 1,980,000 SEA shares from the market (the "Acquisition").
(3) In mid April 2014, each of Messrs. Lu Wing Chi, Lincoln Lu and Lam Sing Tai, the directors of the Company, has exercised his subscription right to subscribe for 2,230,000 SEA shares (the "Subscriptions").
(4) After the Subscriptions, Nan Luen International Limited ("NLI") has diluted interest of 60.32% in the issued share capital of SEA.
(5) JCS Limited ("JCS") is interested in 63.58% of the issued share capital of NLI.
(6) 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 1.213% of the issued share capital of SEA.
(7) After the Subscriptions, Mr. Lu Wing Chi, an executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 332,349,424 Shares, representing approximately 37.50% of the existing issued share capital of the Company, by virtue of his following interests:
(i) 1.78% direct shareholding interest in SEA;
(ii) 30% direct shareholding interest in NLI;
(iii) 48% direct shareholding interest in JCS; and
(iv) 100% direct shareholding interest in NYH.
(8) After the Subscriptions, Mr. Lincoln Lu, an executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 99,822,219 Shares, representing approximately 11.26% of the existing issued share capital of the Company, by virtue of his following interests:
(i) 1.60% direct shareholding interest in SEA;
(ii) 3.21% direct shareholding interest in NLI; and
(iii) 21% direct shareholding interest in JCS.
(9) After the Acquisition and the Subscriptions, Mr. Lambert Lu, is deemed to have an indirect beneficial shareholding interest in 95,601,953 Shares, representing approximately 10.79% of the existing issued share capital of the Company, by virtue of his following interests:
(i) 1.11% direct shareholding interest in SEA;
(ii) 3.21% direct shareholding interest in NLI; and
(iii) 21% direct shareholding interest in JCS.
(10) After the Subscriptions, Mr. Lam Sing Tai, a non-executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 4,380,327 Shares, representing approximately 0.49% of the existing issued share capital of the Company, through his 0.51% direct shareholding interest in SEA.
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)