6th Nov 2015 11:46
LONDON (Alliance News) - Aseana Properties Ltd on Friday said it intends to make its first distribution to shareholders as soon as possible.
The company, which develops property in Malaysia and Vietnam, said it has been liaising "intensively" with lenders and has already obtained some consents. However, the company said that consents from the remaining lenders for the distribution remain outstanding.
Aseana said it is "strongly committed" to distributing the USD10.0 million to shareholders. The company said also that its manager, Ireka Development Management Sdn Bhd, has the same commitment to returning cash.
The company reiterated that it "may consider other methods" of returning cash to shareholders if it is in their best interests.
"Should the remaining consents over the first distribution not be forthcoming in the near future, the board will consider alternative methods to return cash to shareholders in a timely manner. It is intended that all shareholders will be treated equally under any distribution," Aseana said.
"The company will provide a further update to shareholders as soon as there is significant progress or by the first week of December," Aseana added.
Shares in Aseana were untraded on Friday morning.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Aseana Prop.