Asian Growth Properties Limited Director/PDMR Shareholding (7185Y)

TIDMAGP

RNS Number : 7185Y

Asian Growth Properties Limited

19 May 2016

19 May 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. SEA has changed its issued share capital as a result of the cancellation of repurchased SEA shares and the issue of new SEA shares to option holders who had exercised their subscription rights during the period up to 19 May 2016.

II. On 10 May 2016, Mr. David Andrew Runciman (executive director of the Company) transferred 500,000 SEA shares to Nan Luen International Limited ("NLI").

III. Up to 19 May 2016, NLI acquired a total of 700,000 SEA shares (the "Acquisition") including 500,000 SEA shares from Mr. David Andrew Runciman as mentioned in paragraph II.

IV. Immediately after the Acquisition, NLI has a direct shareholding interest of 59.79% 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 5.23% of the issued share capital of SEA. Thus, NLI is deemed to have a total shareholding interest of 65.02% in the issued share capital of SEA after the aforesaid events.

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

VI. NYH Limited ("NYH"), a company 100% owned by Mr. Lu Wing Chi (executive director of the Company), has direct shareholding interest of 0.61% interest in SEA. Mr. Lu Wing Chi is deemed to be interested in 0.61% 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 19 May 2016 be as follows:

1. Mr. Lu Wing Chi, executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 361,628,598 Shares, representing approximately 40.80% of the existing issued share capital of the Company, by virtue of his following interests:

   (i)      1.61% 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 132,295,016 Shares, representing approximately 14.93% of the existing issued share capital of the Company, by virtue of his following interests:

   (i)        2.73% 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 132,467,272 Shares, representing approximately 14.95% of the existing issued share capital of the Company, by virtue of his following interests:

   (i)        2.75% direct shareholding interest in SEA; 
   (ii)       3.21% direct shareholding interest in NLI; and 
   (iii)       25.5% direct shareholding interest in JCS. 

4. Mr. David Andrew Runciman, executive director of the Company, has beneficial shareholding interest in 520,000 Shares, representing approximately 0.06% of the existing issued share capital of the Company.

For more information, please contact:

   Lu Wing Chi                            Tel: [phone] 

Executive Director

Asian Growth Properties Limited

   Richard Gray                            Tel: [phone] 

Andrew Potts

Panmure Gordon (UK) Limited

(Nominated Advisor)

This information is provided by RNS

The company news service from the London Stock Exchange

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May 19, 2016 04:00 ET (08:00 GMT)