8 Jul 2009 15:28
RNS Number : 3534V
Aseana Properties Limited
08 July 2009
Β
ο»Ώ
Date: 8 JulyΒ 2009
On behalf of: Aseana Properties LimitedΒ ("Aseana" orΒ "the Company")
Immediate Release
Β
Aseana Properties Limited
Β§ Major interest in Shares
Aseana Properties Limited,Β a leading Asian property developer,Β has recently received notification of a change in the number of ordinary shares and percentage voting rights in the Company held byΒ Ospraie Management, LLC ("Ospraie"), as investment manager on behalf of discretionary clients. The changes, details of which are set out below, are as a result of a disposal of shares.
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Entity
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Previous
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New
|
|
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Holding
|
Voting
(as % of issued share capital)
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Holding
|
Voting
(as % of issued share capital)
|
|
Ospraie
|
21,434,391
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10.09%
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19,134,391
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9.00%
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AseanaΒ is listed on the Main List of the London Stock Exchange.
-Ends-
Further information, please contact:
Enquiries:
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Redleaf Communications
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Tel: 020 7566 6700
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Samantha Robbins / Adam LevitonΒ / Kathryn Hurford
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Email:Β aseana@redleafpr.com
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Fairfax I.S. PLC
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Tel: 020 7598 5368
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James KingΒ / Gillian McCarthy
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Notes to Editors
Β
Β·; Ireka Development Management, theΒ DevelopmentΒ ManagerΒ for Aseana Properties Limited, is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which hasΒ overΒ 40 years of experience in construction and property development.
Β
Β·; Aseana Properties LimitedΒ typically investsΒ in development projects at pre-construction stage, with a primary focus on locationsΒ within the major cities ofΒ MalaysiaΒ andΒ Vietnam.
Β
Β·; InvestmentΒ is made in projects where itΒ is believed there will be a minimum 30% annualised return on equity ("ROE") on investments in Vietnam and a minimum 20% ROE on investments in Malaysia.
Β
Β·; No one underlying single asset will account for more than 30% of the gross assets of the Company at the time of investment.
Β
Β·; The Directors believe the following factors should provide sustainable growth in the real estate sectors of bothΒ MalaysiaΒ andΒ Vietnam:
o An increasing standard of living and urbanisation driven by a burgeoning young and middle class population
o Clear Government role in encouraging participation of private sectors in real estate development, as well as encouraging and promoting land and property ownership
o Improving availability of mortgages to encourage property ownership
o Favoured Foreign Direct Investment (FDI) destinations driving demand for commercial and industrial properties
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This information is provided by RNS
The company news service from the London Stock Exchange
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END
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