10 Feb 2009 14:22
Date: 10 February 2009
On behalf of: Aseana Properties Limited ("Aseana" or "the Company")
Immediate Release
Aseana Properties Limited
Holdings in Company
Aseana Properties Limited has been notified that on 6 February 2009, New Star Asset Management Limited ("New Star"), as investment manager on behalf of discretionary clients, has increased its interest in ordinary shares in the Company ("Ordinary Shares"). New Star previously held 11,550,000 Ordinary Shares and as at the date of the notification, being 9 February 2009, New Star now holds 14,000,000 Ordinary Shares representing 5.60% of the issued share capital of the Company being 250,000,000 Ordinary Shares.
Aseana is listed on the Main List of the London Stock Exchange.
-Ends-
Further information, please contact:
Enquiries:
| Redleaf Communications | Tel: 020 7566 6700 |
| Samantha Robbins / Adam Leviton / Kathryn Hurford | Email: aseana@redleafpr.com |
| Fairfax I.S. PLC | Tel: 020 7598 5368 |
| James King / Gillian McCarthy |
Notes to Editors
Ireka Development Management, the Development Manager for Aseana Properties Limited, is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has over 40 years of experience in construction and property development.
Aseana Properties Limited typically invests in development projects at pre-construction stage, with a primary focus on locations within the major cities of Malaysia and Vietnam.
Investment is made in projects where it 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.
No one underlying single asset will account for more than 30% of the gross assets of the Company at the time of investment.
Aseana Prop. (ASPL)