6th Apr 2009 12:06
6th April, 2009
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 259,624,329 Shares which represent about 29.29% of the existing issued share capital of the Company as a result of the change of the shareholding of Nan Luen International Limited ("NLI") in S E A Holdings Limited ("SEA") on 31st March, 2009;
(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 the beneficial owner of a company which indirectly owns 26.09% of the issued shares in JCS, and (iii) his 30% direct shareholding interest in NLI. JCS is interested in 63.58% of the issued shares in NLI; and
(4) On 31st March, 2009, certain SEA shares in issue were cancelled following SEA's repurchases from mid February to mid March 2009. Immediately before the aforementioned cancellation, NLI was interested in 58.54% of the issued shares in SEA. Immediately after the aforesaid cancellation, NLI was interested in 59.42% of the issued shares in SEA. Accordingly, Mr. Lu is deemed to have increased his beneficial interest in Shares to 259,624,329 Shares (representing approximately 29.29% 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