12 May 2020 12:04
12 May 2020
Pacific Alliance China Land Limited
Results of EGM and Cancellation
Pacific Alliance China Land Limited ("PACL" or the "Company") (AIM: PACL), announces the results of the Extraordinary General Meeting of Shareholders ("EGM") held earlier today.
Shareholders have voted unanimously to approve the proposals put forward by the Board to cancel the admission of its Ordinary Shares to trading on AIM (the "De-Listing"), and to voluntarily liquidate the Company. All as detailed in the Company's circular published on 9 April 2020.
All resolutions were passed unanimously and the results were as follows:
Resolution | In Favour | Against | Withheld | |||
| Votes | %* | Votes | %* | Votes | % |
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Special Resolution 1 | 755,839 | 100 | 0 | 0 | 0 | 0 |
Special Resolution 2 | 755,839 | 100 | 0 | 0 | 0 | 0 |
Special Resolution 3 | 755,839 | 100 | 0 | 0 | 0 | 0 |
Ordinary Resolution 4 | 755,839 | 100 | 0 | 0 | 0 | 0 |
Ordinary Resolution 5 | 755,839 | 100 | 0 | 0 | 0 | 0 |
Ordinary Resolution 6 | 755,839 | 100 | 0 | 0 | 0 | 0 |
Ordinary Resolution 7 | 755,839 | 100 | 0 | 0 | 0 | 0 |
*Percentage of votes cast excludes Withheld votes
Trading in the Company's shares on AIM was suspended with effect from 7.30 a.m. today. The admission to trading of the Company's shares on AIM is expected to be cancelled at the Company's request with effect from 7.00 a.m. on 13 May 2020.
For further information please contact:
MANAGER: Patrick Boot Pacific Alliance Real Estate Limited 15/F, AIA Central 1 Connaught Road Central, Hong Kong T: (852) 2918 0088 F: (852) 2918 0881 pboot@pag.com
| LEGAL COUNSEL: Jon Lewis PAG 15/F, AIA Central 1 Connaught Road Central, Hong Kong T: (852) 2918 0088 F: (852) 2918 0881 jlewis@pag.com |
BROKER: Henry Freeman Liberum Capital Limited T: (44) 20 (0) 20 3100 2000 www.liberum.com
| NOMINATED ADVISER: Philip Secrett Grant Thornton UK LLP T: (44) 20 7383 5100 Philip.J.Secrett@uk.gt.com |
About Pacific Alliance China Land Limited
Pacific Alliance China Land Limited ("PACL") (AIM: PACL) is a closed-end investment company 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 managed by 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 400 staff working in the region.
For more information about PAG, please visit: www.pag.com
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.