25th Jun 2008 16:39
25th June, 2008
ASIAN GROWTH PROPERTIES LIMITED
Change of Nature 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 received notification of the change of the nature of deemed interest of Mr. Lu Wing Chi ("Mr. Lu"), an executive director of the Company, in the ordinary shares of US$0.05 each in the Company ("Shares") today as follows:
(1) (a) Immediately before 19th June, 2008, Mr. Lu was deemed interested in the Shares by virtue of (i) his 6.52% direct shareholding interest in JCS Limited ("JCS"), (ii) him being a discretionary beneficiary of a discretionary trust (the "Discretionary Trust") which owns 26.09% of the issued shares in JCS, and (iii) his 30% direct shareholding interest in Nan Luen International Limited ("NLI");
(b) JCS has 63.58% interest in the issued shares in NLI which holds about 55.76% of the issued shares in S E A Holdings Limited ("SEA"); and
(c) SEA holds about 97.17% of the issued shares in the Company;
(2) On 19th June, 2008, a restructuring exercise was completed to the effect that the 26.09% interests in the Discretionary Trust have been transferred to a company wholly-owned by Mr. Lu; and
(3) Save as disclosed in (2) above, there has been no change to Mr. Lu's deemed shareholding interest in the Company (i.e. 243,632,171 Shares representing about 27.49% of the issued share capital of the Company) since his last notification on 6th May, 2008.
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)
Related Shares:
AGP.L