6 May 2016 07:46
6 May 2016
ASIAN GROWTH PROPERTIES LIMITED
Disclosure of Directors' Deemed Shareholding Interests
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 notifications from the following directors of the Company reporting their respective deemed interests in the ordinary shares of US$0.05 each in the Company (the "Shares") as follows:
I. S E A Holdings Limited ("SEA") is beneficially entitled to about 97.17% of the existing issued share capital of the Company. SEA has changed its issued share capital as a result of the cancellation of repurchased SEA shares and the issue of new SEA shares to option holders who had exercised their subscription rights during the period up to 6 May 2016.
II. Mr. David Andrew Runciman (executive director of the Company) exercised his subscription rights to subscribe for 500,000 SEA shares on 14 April 2016.
III. Up to 6 May 2016, Nan Luen International Limited ("NLI") acquired a total of 700,000 SEA shares (the "Acquisition").
IV. Immediately after the Acquisition, NLI has a direct shareholding interest of 59.57% of the issued share capital of SEA. NLI is also interested in 100% of the issued share capital in two companies which in turn are interested in a total of 5.23% of the issued share capital of SEA. Thus, NLI is deemed to have a total shareholding interest of 64.80% in the issued share capital of SEA after the aforesaid events.
V. JCS Limited ("JCS") has a direct interest of 63.58% in the issued share capital of NLI.
VI. NYH Limited ("NYH"), a company 100% owned by Mr. Lu Wing Chi (executive director of the Company), has direct shareholding interest of 0.608% interest in SEA. Mr. Lu Wing Chi is deemed to be interested in 0.608% interest in SEA by virtue of his 100% interest in NYH.
Immediately after the aforesaid events, the respective deemed interests in the Shares of the following directors of the Company as at 5 May 2016 be as follows:
1. Mr. Lu Wing Chi, executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 360,301,368 Shares, representing approximately 40.65% of the existing issued share capital of the Company, by virtue of his following interests:
(i) 1.60% direct shareholding interest in SEA;
(ii) 30% direct shareholding interest in NLI;
(iii) 49% direct shareholding interest in JCS; and
(iv) 100% direct shareholding interest in NYH.
2. Mr. Lincoln Lu, executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 131,820,451 Shares, representing approximately 14.87% of the existing issued share capital of the Company, by virtue of his following interests:
(i) 2.72% direct shareholding interest in SEA;
(ii) 3.21% direct shareholding interest in NLI; and
(iii) 25.5% direct shareholding interest in JCS.
3. Mr. Lambert Lu, executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 132,078,835 Shares, representing approximately 14.90% of the existing issued share capital of the Company, by virtue of his following interests:
(i) 2.75% direct shareholding interest in SEA;
(ii) 3.21% direct shareholding interest in NLI; and
(iii) 25.5% direct shareholding interest in JCS.
4. Mr. David Andrew Runciman, executive director of the Company, is deemed to have beneficial shareholding interest in 1,154,301 Shares, representing approximately 0.13% of the existing issued share capital of the Company, by virtue of his following interests:
(i) 0.07% direct shareholding interest in SEA; and
(ii) 0.06% direct beneficial shareholding interest in the Company.
For more information, please contact:
Lu Wing Chi Tel: +852 2828 6363
Executive Director
Asian Growth Properties Limited
Richard Gray Tel: +44 207 886 2500
Andrew Potts
Panmure Gordon (UK) Limited
(Nominated Advisor)