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Further re Proposed Disposal of Assets

5 May 2017 13:02

RNS Number : 3547E
Asian Growth Properties Limited
05 May 2017
 

 

 

 

 

NAN LUEN INTERNATIONAL LIMITED

 (Incorporated in Bermuda with limited liability)

 

 

ASIAN GROWTH PROPERTIES LIMITED

(An Exempted Company Registered in Bermuda

 with Limited Liability with Registered No. 52097)

(AIM Stock Code: AGP)

 

 

JOINT ANNOUNCEMENT

DELAY IN DESPATCH OF COMPOSITE DOCUMENT

 

Financial adviser to Nan Luen International Limited

 

 

 

 

Reference is made to the joint announcement of S E A Holdings Limited ("SEA") and Nan Luen International Limited (the "Offeror") dated 31 March 2017 in relation to, among other things, the Share Exchange Offer ("Joint Announcement") and the joint announcement of SEA and the Offeror dated 18 April 2017 in relation to the revised timetable (the "Revised Timetable Announcement"). Unless the context otherwise requires, capitalised terms used herein shall bear the same meanings as defined in the Joint Announcement.

 

Pursuant to Rule 8.2 of the Takeovers Code, the Composite Document, together with the accompanying form of acceptance and transfer regarding the Share Exchange Offer, are required to be despatched to the AGP Qualifying Shareholders (both existing and arising as a result of the Distribution in Specie) within 35 days of the date of the Joint Announcement, i.e. on or before 5 May 2017, unless consent is granted by the Executive to extend the deadline for the despatch of the Composite Document.

As disclosed in the Revised Timetable Announcement, completion of the Distribution in Specie is scheduled to take place on 15 May 2017. Since the Share Exchange Offer is pre-conditional upon the completion of the Distribution in Specie and more time is required to finalise the information to be included in the Composite Document, an application has been made to the Executive pursuant to Rule 8.2 of the Takeovers Code for its consent to extend the latest time for the despatch of the Composite Document and the accompanying form of acceptance and transfer regarding the Share Exchange Offer to 16 May 2017, and the Executive has indicated that it is minded to grant such consent.

 

Further announcement(s) will be jointly made by the Offeror and AGP as and when appropriate.

 

 

On behalf of the board of directors of

Nan Luen International Limited

Lu Wing Chi

Director

 

On behalf of the AGP Board of

Asian Growth Properties Limited

Lu Wing Chi

Executive Director

 

 

Hong Kong, 5 May 2017

 

The directors of the Offeror as at the date of this joint announcement are:

 

Mr. Lu Wing Chi

Mr. Lincoln Lu

Mr. Lambert Lu

 

The AGP Directors as at the date of this joint announcement are:

 

Richard Öther Prickett (Non-executive Chairman and Independent Non-executive Director)

Lu Wing Chi (Executive Director)

Lambert Lu (Executive Director)

David Andrew Runciman (Executive Director)

Lincoln Lu (Executive Director)

Lam Sing Tai (Non-executive Director)

John David Orchard Fulton (Independent Non-executive Director)

 

The directors of the Offeror jointly and severally accept full responsibility for the accuracy of the information contained in this joint announcement (other than that relating to AGP) and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this joint announcement (other than those expressed by the AGP Directors) have been arrived at after due and careful consideration and there are no other facts not contained in this joint announcement, the omission of which would make any statement in this joint announcement misleading.

 

The AGP Directors jointly and severally accept full responsibility for the accuracy of the information contained in this joint announcement (other than that relating to the Offeror and parties acting in concert with it) and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this joint announcement (other than those expressed by the directors of the Offeror) have been arrived at after due and careful consideration and there are no other facts not contained in this joint announcement, the omission of which would make any statement in this joint announcement misleading.

 

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)

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
FURBDGDUBGGBGRU
Date   Source Headline
4th May 20174:35 pmRNSPrice Monitoring Extension
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11th Jul 20163:38 pmRNSDirector/PDMR Shareholding
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5th Feb 20161:23 pmRNSPotential Disposal of Dah Sing Financial Centre
5th Feb 20168:59 amRNSTrading Statement
26th Jan 20168:56 amRNSDirector/PDMR Shareholding
15th Jan 201611:40 amRNSDirector/PDMR Shareholding
8th Jan 20168:33 amRNSDirector/PDMR Shareholding
22nd Dec 201510:11 amRNSCompletion of Disposal

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