Extension of repurchase plan

    RNS Number : 2083Z
  AsianLogic Limited
  16 July 2008
   


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


NOTIFICATION OF ORDINARY SHARE REPURCHASE PLAN 

    AsianLogic Limited, a diversified Asia-Pacific online and land-based gaming company, announces today an extension of its recently
adopted share repurchase plan. This plan originally authorised the Company to make market purchases of up to 8,271,094 of its ordinary
shares, being 7.5 per cent. of the then outstanding ordinary shares, during the three month period commencing on 16 April 2008 and ending on
15 July 2008. Today, a resolution of the board of directors of the Company was passed that the period would be extended by one further week,
now ending on 22 July 2008. The maximum number of shares that the Company is authorized to purchase remains the same at 8,271,094.  
    Purchases shall be made at the best price, as determined by the board of directors of the Company from time to time, for the ordinary
shares, up to a maximum price of £1 per share. 
    Any purchases will be made in the normal course in the open market and all ordinary shares purchased will not be cancelled, but will be
held in treasury. Any purchases will be announced to the market as soon as possible after they have occurred.
    AsianLogic and its directors believe that the recent trading prices of the Company's ordinary shares do not reflect their underlying
value, given the Company's earnings and strong balance sheet. Accordingly, the board of directors of the Company has approved the share
repurchase plan and its extension, with a view to enhancing AsianLogic's net asset value per share and earnings per share.
    ends
    

For further information contact: 

Tom Hall, Executive Vice Chairman
    AsianLogic
    
    c/o Bell Pottinger Corporate & Financial
    [phone]

    Tim Mickley
    Collins Stewart - Nominated Adviser to ALL
    [phone]
    
David Rydell/Chris Hamilton/Helen Tarbet
    Bell Pottinger Corporate & Financial
    [phone]

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