TIDMAGP

RNS Number : 9956M

Asian Growth Properties Limited

26 January 2016

26 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 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.

II. Mr. Lu Wing Chi (executive director of the Company) disposed of 2,500,000 SEA shares on 21 January 2016.

III. Mr. Lambert Lu (executive director of the Company) acquired 150,000 SEA shares on 22 January 2016.

IV. Up to 22 January 2016, Nan Luen International Limited ("NLI") acquired a total of 875,000 SEA shares (the "Acquisition").

V. Immediately after the Acquisition, NLI has a direct shareholding interest of 59.20% 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 5.21% of the issued share capital of SEA. Thus, NLI is deemed to have a total shareholding interest of 64.41% in the issued share capital of SEA after the aforesaid events.

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

VII. NYH Limited ("NYH"), a company 100% owned by Mr. Lu Wing Chi, has direct shareholding interest of 0.607% interest in SEA. Mr. Lu Wing Chi is deemed to be interested in 0.607% 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 22 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 358,235,160 Shares, representing approximately 40.42% 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 131,080,613 Shares, representing approximately 14.79% of the existing issued share capital of the Company, by virtue of his following interests:

   (i)        2.71% 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 131,338,996 Shares, representing approximately 14.82% of the existing issued share capital of the Company, by virtue of his following interests:

   (i)        2.74% direct shareholding interest in SEA; 
   (ii)       3.21% direct shareholding interest in NLI; and 
   (iii)       25.5% direct shareholding interest in JCS.

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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January 26, 2016 03:56 ET (08:56 GMT)

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