27th Nov 2008 12:43
27th November, 2008
ASIAN GROWTH PROPERTIES LIMITED
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 today the Company 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 250,754,533 Shares which represent about 28.29% of the existing issued share capital of the Company as a result of Nan Luen International Limited ("NLI") increasing its shareholding interest in S E A Holdings Limited ("SEA") from 24th to 26th November, 2008;
(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 of JCS through a discretionary trust, and (iii) his 30% direct shareholding interest in NLI. JCS is interested in 63.58% of the issued shares of NLI; and
(4) Immediately before 24th November, 2008, NLI was interested in 56.86% of the issued shares of SEA. From 24th to 26th November, 2008, NLI purchased additional SEA shares and immediately thereafter increased its shareholding in SEA to about 57.39%. As a result, Mr. Lu is deemed to have increased his beneficial interest in Shares to 250,754,533 Shares (representing approximately 28.29% 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)
Related Shares:
AGP.L