7 Feb 2013 16:50
7 February 2013
Pacific Alliance China Land Limited
Share Dealings
Pacific Alliance China Land Limited ("PACL" or the "Company") (AIM: PACL) the closed-end investment company admitted to trading on AIM, today notifies the following clarifications.
As part of the Tender Offer closed on 16 November 2012, Mr. Horst Geicke, director of the Company, tendered a total of 1,756,133 ordinary shares, of which 47,943 ordinary shares were his Basic Entitlement (as defined in the Tender Offer Circular dated 17 October 2012) and 1,708,190 ordinary shares were tendered as Excess Shares (as defined in the Tender Offer Circular dated 17 October 2012) and a total of 63,733 ordinary shares were accepted for repurchase by the Company's wholly-owned subsidiary, PACL Trading Limited, at the tender price of US$2.16 per share. The Company also clarifies that on 22 October 2012, Mr. Geicke purchased 100,000 ordinary shares at an average price of US$1.367 per share.
As part of the Tender Offer closed on 10 July 2012, Mr. Geicke tendered a total of 1,741,715 ordinary shares, of which 67,230 ordinary shares were his Basic Entitlement (as defined in the Tender Offer Circular dated 8 June 2012) and 1,674,485 ordinary shares were tendered as Excess Shares (as defined in the Tender Offer Circular dated 8 June 2012) and a total of 85,582 ordinary shares were accepted for repurchase by the Company's wholly-owned subsidiary, PACL Trading Limited, at the tender price of US$2.11 per share.
The Company also clarifies that on 21 November 2011, Mr. Geicke purchased 100,000 ordinary shares at an average price of US$1.19 per share.
As a result of the above transactions, Mr. Geicke is directly interested in 1,692,400 of the Company's ordinary shares representing 1.28 per cent. of the Company's total voting rights, and he has an indirect interest in 3,588,208 of the Company's Ordinary Shares, representing 2.71 per cent. of the Company's total voting rights held by Pacific Alliance Real Estate and its affiliates.
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$297.74 millionas at 31 December 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 320 staff working in the region.
For more information about PAG, please visit: www.pagasia.com
PACL.L (PACL)