TIDMASPL

RNS Number : 0834O

Aseana Properties Limited

02 November 2016

The announcement contains inside information

Aseana Properties Limited

("Aseana" or the "Company")

Aseana completes divestment of holding in Nam Long Investment Corporation

Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia and Vietnam listed on the Main Market of the London Stock Exchange, announces that on 2 November 2016 it sold its remaining stake in Nam Long Investment Corporation ("Nam Long"), a real estate developer in Vietnam listed on the Ho Chi Minh Stock Exchange (HOSE: NLG). The sale of 3,908,773 shares at a price of VND22,000 (US$0.986*) per share generated total proceeds of VND85.99 billion (US$3.85 million*).

This sale completes Aseana's divestment of its shareholding in Nam Long, in line with the Company's overall divestment strategy and its intention to make capital distributions to shareholders upon receipt of consents from its lenders.

* Based on an exchange rate of US$1.00 to VND22,319.

For further information:

 
 Aseana Properties Limited               Tel: +603 6411 6388 
 Chan Chee Kian                          Email: cheekian.chan@ireka.com.my 
 
 N+1 Singer                              Tel: 020 7496 3000 
 James Maxwell / Liz Yong (Corporate 
 Finance) 
 Sam Greatrex (Sales) 
 
 Tavistock                               Tel: 020 7920 3150 
 Jeremy Carey / James Verstringhe        Email: jcarey@tavistock.co.uk

Notes to Editors:

London-listed Aseana Properties Limited (LSE: ASPL) is a property developer investing in Malaysia and Vietnam.

Ireka Development Management Sdn Bhd ("IDM") is the exclusive Development Manager for Aseana. It is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has over 49 years of experience in construction and property development. IDM is responsible for the day-to-day management of Aseana's property portfolio.

This information is provided by RNS

The company news service from the London Stock Exchange

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November 02, 2016 03:00 ET (07:00 GMT)