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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Aseana Prop | AQSE:ASPL.GB | Aquis Stock Exchange | Ordinary Share | JE00B1RZDJ41 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jan 2020 to Jan 2025
TIDMASPL
RNS Number : 5330O
Aseana Properties Limited
10 February 2021
10 February 2021
Aseana Properties Limited ("Aseana" or the "Company")
Update on the Demerger Proposal (the "Demerger")
Aseana Properties Limited (LSE: ASPL LN), a property developer in both Malaysia and Vietnam which is listed on the Main Market of the London Stock Exchange, announces that the proposal to demerge approximately 50 per cent of the Company's assets that was announced on 7(th) May 2020 can no longer take place as a result of the failure to secure the required approval from the banking syndicates who had lent the funds for the construction of two of the Company's investments, the hospital in Vietnam and the hotel and shopping mall in Sandakan. The Demerger agreements that were signed by the Company and certain shareholders on 15(th) July 2020 have therefore lapsed today.
The Directors will now continue their focus on selling all of the Company's assets including The RuMa Hotel & Residences in Kuala Lumpur and the remaining plot of land in Kota Kinabalu which were set to be demerged.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019.
For further information:
Aseana Properties Limited Tel: +44 20 3325 7050 Nick Paris, Chairman nickparis@btinternet.com Liberum Capital Tel: +44 20 3100 2000 Gillian Martin / Owen Matthews
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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END
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(END) Dow Jones Newswires
February 10, 2021 02:00 ET (07:00 GMT)
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