Shares in Public Hands

25 August 2020

Aseana Properties Limited

("Aseana" or the "Company")

Shares in Public Hands

The Board of the Company announces that the number of ordinary shares which are deemed by the Listing Rules to be held in public hands is below the minimum 25% threshold. The Listing Rules provide that shares are not considered to be held in public hands if they are held by persons (or persons in the same group or persons acting in concert) who have an interest in 5% or more of a listed company's share capital, as well as shares held by directors of a listed company and shares held outside the EEA.

The Company's shares in public hands is currently estimated to be approximately 17%. Following the Company making a request to the FCA, the FCA has agreed to modify temporarily the relevant Listing Rule to permit this decreased level of shares in public hands for a period up until 24 February 2021, or completion of the demerger proposal described in the Company's announcement of 7 May 2020 (whichever is the earlier). During this time the Company will continue to monitor its share register and keep the FCA informed of any relevant developments as well as working towards restoring the number of shares in public hands.

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