15th Oct 2008 09:25
15th October, 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 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") today as follows:
Mr. Lu and the persons connected with him are presently deemed to be beneficially interested in 248,919,255 Shares which represent about 28.08% 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") on 13th October, 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 13th October, 2008, NLI was interested in 55.76% of the issued shares of SEA. On 13th October, 2008, coincident with the exercise by certain warrant-holders of their rights for subscribing for SEA shares attached to the 2008 warrants of SEA, NLI increased its shareholding in SEA to about 56.97% after taking into account the dilutive effect on NLI's equity interest in SEA due to the said exercise. As a result, Mr. Lu is deemed to have increased his beneficial interest in Shares from 243,632,171 Shares (representing approximately 27.49% of the issued share capital of the Company) to 248,919,255 Shares (representing approximately 28.08% 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