23rd Dec 2008 09:56
RNS Number : 6726K
Asian Growth Properties Limited
23 December 2008
23rd December, 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 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 251,016,347 Shares which represent about 28.32% 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 22nd December, 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 22nd December, 2008, NLI was interested in 57.42% of the issued shares of SEA. On 22nd December, 2008, NLI purchased additional SEA shares and immediately thereafter increased its shareholding in SEA to about 57.45%. As a result, Mr. Lu is deemed to have increased his beneficial interest in Shares to 251,016,347 Shares (representing approximately 28.32% 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)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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Related Shares:
AGP.L
