TIDMAGP

RNS Number : 3136B

Asian Growth Properties Limited

05 January 2015

5 January 2015

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 directors of the Company reporting the change of their deemed interests in the ordinary shares of US$0.05 each of the Company (the "Shares").

S E A Holdings Limited ("SEA") is the holding company of the Company and is interested in about 97.17% of the issued share capital of the Company. The following companies/directors have direct/indirect interests in the issued share capital of SEA:

I. Admiralty Pacific Limited ("Admiralty") and Wetherby International Limited ("Wetherby") have direct shareholding interests of 2.48% and 2.66% respectively in the issued share capital of SEA as at 30 December 2014.

II. Nan Luen International Limited ("NLI") has direct shareholding interest of 59.73% in the issued share capital of SEA and NIL has acquired the entire issued share capital of Admiralty and Wetherby on 30 December 2014 (the "Acquisition I"). Thus, NLI is deemed to have a total shareholding interest of 64.87% in the issued share capital of SEA after the Acquisition I.

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

IV. On 30 December 2014, Messrs. Lu Wing Chi, Lincoln Lu and Lambert Lu, the executive directors of the Company, have acquired additional shares in JCS (the "Acquisition II"). After the Acquisition II, the direct shareholding interests of Messrs. Lu Wing Chi, Lincoln Lu and Lambert Lu in JCS are 49%, 25.5% and 25.5% respectively.

V. 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 3.29% of the issued share capital of SEA.

VI. On 2 January 2015, Mr. Lam Sing Tai, the non-executive director of the Company, has disposed 676,000 shares of SEA.

After the aforesaid events, the respective deemed interests in the Shares of Company of the following directors as at 2 January 2015 are as follows:

(1) Mr. Lu Wing Chi, executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 363,939,409 Shares, representing approximately 41.06% 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)     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 123,509,110 Shares, representing approximately 13.93% 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)      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 125,748,435 Shares, representing approximately 14.19% 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)       25.5% direct shareholding interest in JCS.

(4) Mr. Lam Sing Tai, non-executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 2,659,878 Shares, representing approximately 0.3% of the existing issued share capital of the Company, through his 0.31% direct shareholding interest in SEA.

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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