ALOG Asianlogic

    RNS Number : 4084L
  AsianLogic Limited
  09 January 2009
   

    AsianLogic Limited
("AsianLogic" or the "Company") 

    Notification of Ordinary Share Repurchase Plan 

    AsianLogic Limited, a diversified Asia-Pacific online and land-based gaming company, announces today the adoption of a further share
repurchase plan to run during the two week period commencing on 12 January 2009 and ending on 23 January 2009. 

    This new plan has been approved by the Board as it continues to believe that the recent trading price of the Company's ordinary shares
does not reflect their underlying value, given the Company's earnings and strong balance sheet.

The plan authorises the Company to make discretionary on-market purchases of up to 13,000,000 of its ordinary shares being up to 14.99% of
AsianLogic's current outstanding ordinary shares.

    Any purchases by the Company of its ordinary shares will be made in the open market, subject to availability and market conditions, with
a view to enhancing AsianLogic's net asset value per share and earnings per share. All those shares purchased will be held in treasury.

    The transactions will be announced to the market as soon as practicable after they have occurred.
    
 
    - Ends -

    For further information contact: 

 Tom Hall, Executive Vice Chairman & CEO             +44 207 861 3232
 AsianLogic
 c/o Bell Pottinger Corporate & Financial



 Mark Connelly/Adam Cowen                            +44 207 523 8350
 Collins Stewart Europe Limited


 David Rydell/Olly Scott/Helen Tarbet                +44 207 861 3232
 Bell Pottinger Corporate & Financial



    
Notes to editors 

About AsianLogic 

Asianlogic is a leading online and land-based gaming company focusing on the Asia-Pacific markets. It operates eight online casino brands
and four online poker rooms as well as land-based sportsbook operations through its MegaSportsWorld brand. AsianLogic is a specialist in
Asia-specific games such as Mahjong, Cho-Da-Di, Do-Di-Zhu and 13 Card Poker and it owns and operates The Asian Poker Tour.

The Company also maintains a corporate advisory team specialising in the gaming sector which is an active investor in gaming-related
businesses as well as providing consultancy and analytical services. AsianLogic enjoys strong commercial relationships with leading gaming
providers including Playtech and LVS. Founded as ESL in 2002, AsianLogic employs more than 300 employees, the majority of whom are based in
the Philippines.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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