Asian Growth Properties : Announcement: Disclosure of the Directors' Deemed Shareholding Interests

Microsoft Word - 2015.12.22 Ann - Disclosure of Dirs' deemed shareholding Int.docx

RNS Number: 2618L 8 January 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 executive and non-executive 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:

1. 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 7 January 2016.

   
   

2. On 23 December 2015, Mr. Lam Sing Tai (non-executive director of the Company) disposed of 2,538,000 SEA shares.

   
   

3. On 4 January 2016, Mr. David Andrew Runciman (executive director of the Company) disposed of 200,000 SEA shares.

   
   

4. Up to 7 January 2016, Mr. Lambert Lu (executive director of the Company) acquired a total of 500,000 SEA shares.

   
   

5. Up to 7 January 2016, Nan Luen International Limited ("NLI") acquired a total of 2,190,000 SEA shares (the "Acquisition").

   
   

6. Immediately after the Acquisition, NLI has a direct shareholding interest of 59.35% 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 64.58% in the issued share capital of SEA after the aforesaid events.

   
   

7. JCS Limited ("JCS") has a direct interest of 63.58% in the issued share capital of NLI.

   
   

8. NYH Limited ("NYH"), a company 100% owned by Mr. Lu Wing Chi (executive director of the Company), has a direct shareholding interest of 0.304% of the issued share capital of SEA. Mr. Lu Wing Chi is deemed to be interested in 0.304% 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 7 January 2016 be as follows:

1. Mr. Lu Wing Chi, executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 356,919,126 Shares, representing approximately 40.27% of the existing issued share capital of the Company, by virtue of his following interests:

   
   

2. 1.64% direct shareholding interest in SEA;

3. 30% direct shareholding interest in NLI;

4. 49% direct shareholding interest in JCS; and

5. 100% direct shareholding interest in NYH.

   
   

6. Mr. Lincoln Lu, executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 131,554,316 Shares, representing approximately 14.84% of the existing issued share capital of the Company, by virtue of his following interests:

   
   

7. 2.73% direct shareholding interest in SEA;

8. 3.21% direct shareholding interest in NLI; and

9. 25.5% direct shareholding interest in JCS.

   
   

10. Mr. Lambert Lu, executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 131,554,316 Shares, representing approximately 14.84% of the existing issued share capital of the Company, by virtue of his following interests:

    
    

11. 2.73% direct shareholding interest in SEA;

12. 3.21% direct shareholding interest in NLI; and

13. 25.5% direct shareholding interest in JCS.

    
    

14. Mr. David Andrew Runciman, executive director of the Company, has beneficial shareholding interest in 520,000 Shares, representing approximately 0.06% of the existing issued share capital of the Company.

    
    

15. Mr. Lam Sing Tai, non-executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 4,856,620 Shares, representing approximately 0.55% of the existing issued share capital of the Company, through his 0.56% direct shareholding interest in SEA.




For more information, please contact:




Lu Wing Chi Tel: [phone]

Executive Director

Asian Growth Properties Limited




Richard Gray Tel: [phone] Andrew Potts

Panmure Gordon (UK) Limited (Nominated Advisor)