Director/PDMR Shareholding

RNS Number : 0703M

Asian Growth Properties Limited

22 January 2009

 

22nd January, 2009

 

 

Change of a Director's Deemed Shareholding Interest

 

The board of directors of Asian Growth Properties Limited (the "Company") (AIM Stock Code: AGP), the Hong Kong based China property development and investment company, announces that the Company has today received notification from Mr. Lu Wing Chi (“Mr. Lu”), an executive director of the Company of the change of his deemed interest in the ordinary shares of US$0.05 each in the Company ("Shares") as follows:

 

(1) Mr. Lu and the persons connected with him are presently deemed to be beneficially interested in 250,360,952 Shares which represent about 28.25% of the existing issued share capital of the Company as a result of the changes of the shareholding of Nan Luen International Limited (“NLI”) in S E A Holdings Limited (“SEA”) on 16th and 21st January, 2009 respectively;

 

(2) SEA is beneficially entitled to, in aggregate, about 97.17% of the existing issued share capital of the Company;

 

(3) Mr. Lu is deemed interested in the Shares by virtue of (i) his 6.52% direct shareholding interest in JCS Limited ("JCS"), (ii) him being a beneficial owner of a wholly-owned company which indirectly owns 26.09% of the issued shares in JCS through a discretionary trust, and (iii) his 30% direct shareholding interest in NLI. JCS is interested in 63.58% of the issued shares in NLI; and

 

(4) On 16th January, 2009, an option-holder exercised his rights for subscribing for certain new SEA shares pursuant to SEA’s employee share option scheme adopted on 19th August, 2005, thereby diluting NLI’s shareholding in SEA. On 21st January, 2009, NLI completed the purchase of additional issued shares in SEA. Immediately before the aforementioned events, NLI was interested in 57.45% of the issued shares in SEA. Immediately after the aforesaid events, NLI was interested in 57.30% of the issued shares in SEA. Accordingly, Mr. Lu is deemed to have decreased his beneficial interest in Shares to 250,360,952 Shares (representing approximately 28.25% of the issued share capital of the Company).

 

 

For more information, please contact:

 

Lu Wing Chi Tel: +852 2828 6363

Executive Director

Asian Growth Properties Limited

 

Richard Gray Tel: +44 207 459 3600

Andrew Potts

Panmure Gordon (UK) Limited

(Nominated Advisor)

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