4 May 2017 12:50
4 May 2017
Asian Growth Properties Limited
(An Exempted Company Registered in Bermuda with Limited liability with
Registered No. 52097)
(AIM Stock Code: AGP)
EXTENSION OF COMPLETION DATE
OF THE ASSETS REDISTRIBUTION
Reference is made to the circular (the "Circular") of Asian Growth Properties Limited (the "Company") dated 31 March 2017 and the announcements of the Company dated 31 March 2017, 11 April 2017, 18 April 2017 and 21 April 2017 (the "Announcements"). Unless the context otherwise requires, capitalised terms used herein shall bear the same meanings as defined in the Circular.
As disclosed in the Circular, the disposal of the Non-PRC Assets by way of sale of the entire issued share capital of BSGL by the Company to SEA pursuant to the SP Agreement is conditional on, inter alia, the SEA Independent Shareholders passing an ordinary resolution of SEA to approve the SEA Distribution in Specie. On 4 May 2017, the SEA SGM was duly held and the ordinary resolution approving the SEA Distribution in Specie was duly passed.
As disclosed in the Announcements, completion of the SP Agreement is scheduled to take place on 15 May 2017. In accordance with the revised timetable set out in the Company's announcement dated 18 April 2017, SEA (as buyer of the SP Agreement) and the Company (as seller of the SP Agreement) have by mutual consent agreed to extend the date of completion of the SP Agreement from 4 May 2017 to 15 May 2017 (or such other date as the parties may agree in writing). Save for the above, all other terms and conditions of the SP Agreement have remained unchanged.
This announcement contains inside information.
For more information, please contact:
Lu Wing Chi | Tel: +852 2828 6363 |
Executive Director | |
Asian Growth Properties Limited | |
Richard Gray/Andrew Potts/Atholl Tweedie | Tel: +44 207 886 2500 |
Panmure Gordon (UK) Limited | |
(Nominated Adviser) |