13 Jul 2012 10:34
13 July 2012
Pacific Alliance China Land Limited
Result of Tender Offer - Additional Information
Pacific Alliance China Land Limited ("PACL" or the "Company") (AIM: PACL) the closed-end investment company admitted to trading on AIM, announces and clarifies that a total of 98,534,374 of the Company's ordinary shares were tendered in the Tender Offer that closed on Tuesday, 10 July 2012, of which 4,367,154 ordinary shares were tendered as part of the Basic Entitlement (as defined in the Tender Offer Circular dated 8 June 2012) and 94,167,220 ordinary shares were tendered as Excess Shares (as defined in the Tender Offer Circular dated 8 June 2012).
A total of 1,032,087 Excess Shares were accepted pro rata from all shareholders that tendered Excess Shares. As a result of the transaction, a total of 5,399,241 ordinary shares tendered were accepted for repurchase by the Company's wholly-owned subsidiary, PACL Trading Limited, at a tender price of US$2.11 per share, representing approximately 3.86 per cent. of the Company's ordinary shares in issue and eligible for tender.
For further information, please contact:
MANAGER: Patrick Boot, Managing Partner Pacific Alliance Real Estate Limited 15/F, AIA Central 1 Connaught Road Central, Hong Kong T: (852) 2918 0088 F: (852) 2918 0881 pboot@pagasia.com
| LEGAL COUNSEL: Jon Lewis, General Counsel PAG 15/F, AIA Central 1 Connaught Road Central, Hong Kong T: (852) 2918 0088 F: (852) 2918 0881 jlewis@pagasia.com |
BROKER: Hiroshi Funaki LCF Edmond de Rothschild Securities T: (44) 20 7845 5960 F: (44) 20 7845 5961 funds@lcfr.co.uk
| NOMINATED ADVISER: Philip Secrett Grant Thornton Corporate Finance T: (44) 20 7383 5100 Philip.J.Secrett@uk.gt.com |
MEDIA RELATIONS: Stephanie Barry PAG T: (852) 3719 3375 sbarry@pagasia.com
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About Pacific Alliance China Land Limited
Pacific Alliance China Land Limited ("PACL") (AIM: PACL) is a closed-end investment company with net assets of US$293.8 million as at 31 May 2012. PACL was admitted to trading on the AIM Market of the London Stock Exchange in November 2007. PACL is focused on investing in a portfolio of existing properties, new developments, distressed projects and real estate companies in Greater China.
For more information about PACL, please visit: www.pacl-fund.com
Pacific Alliance China Land Limited is a member of PAG (formerly known as Pacific Alliance Group), the Asian alternative investment fund management group. Founded in 2002, PAG is now one of the region's largest Asia-focused alternative investment managers, with funds under management across Private Equity, Real Estate and Absolute Return strategies.
PAG has a presence across Asia with over 290 staff working in the region.
For more information about PAG, please visit: www.pagasia.com