AGP Asian Growth Properties

TIDMAGP

RNS Number : 7611Y

Asian Growth Properties Limited

03 December 2014

3 December 2014

ASIAN GROWTH PROPERTIES LIMITED

Disclosure of the 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 directors of the Company reporting their respective deemed interests in the ordinary shares of US$0.05 each in the Company (the "Shares") are 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 issue of new SEA shares to option holders who had exercised their subscription rights and the cancellation of the repurchased SEA shares during the period.

(2) On 2 December 2014, Nan Luen International Limited ("NLI") has also acquired additional SEA shares (the "Acquisition").

(3) NLI is interested in 59.77% of the issued share capital of SEA immediately after the Acquisition.

   (4)     JCS Limited ("JCS") is interested in 63.58% of the issued share capital of NLI. 

(5) NYH Limited ("NYH") is interested in 25% of the issued share capital in each of the two companies which in turn are interested in a total of 1.203% of the issued share capital of SEA.

(6) Immediately after the Acquisition, Mr. Lu Wing Chi, an executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 329,288,439 Shares, representing approximately 37.15% of the existing issued share capital of the Company, by virtue of his following interests:

   (i)        1.76% direct shareholding interest in SEA; 
   (ii)       30% direct shareholding interest in NLI; 
   (iii)      48% direct shareholding interest in JCS; and 
   (iv)      100% direct shareholding interest in NYH. 

(7) Immediately after the Acquisition, Mr. Lincoln Lu, an executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 100,243,384 Shares, representing approximately 11.31% of the existing issued share capital of the Company, by virtue of his following interests:

   (i)        1.74% direct shareholding interest in SEA; 
   (ii)       3.21% direct shareholding interest in NLI; and 
   (iii)      21% direct shareholding interest in JCS. 

(8) Immediately after the Acquisition, Mr. Lambert Lu, an executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 102,482,709 Shares, representing approximately 11.56% of the existing issued share capital of the Company, by virtue of his following interests:

   (i)        2% direct shareholding interest in SEA; 
   (ii)       3.21% direct shareholding interest in NLI; and 
   (iii)       21% direct shareholding interest in JCS. 

(9) Mr. David Andrew Runciman, an executive director of the Company, has disposed SEA shares during the period. Subsequent to such disposal, he is deemed to have beneficial shareholding interest in 707,449 Shares, representing approximately 0.08% of the existing issued share capital of the Company, by virtue of his following interests:

   (i)       0.02% 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)

This information is provided by RNS

The company news service from the London Stock Exchange

END

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