We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Pacific Alliance China Land Limited | LSE:PACL | London | Ordinary Share | KYG6846Y1035 | ORD USD0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.18 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPACL
RNS Number : 3944J
Pacific Alliance China Land Limited
09 April 2020
9 April 2020
Pacific Alliance China Land Limited
Cancellation of Admission of Ordinary Shares to Trading on AIM
Voluntary Liquidation of the Company
And
Notice of Extraordinary General Meeting
Pacific Alliance China Land Limited (" PACL " or the "Company") (AIM: PACL), the closed-end investment company admitted to trading on AIM, announces the publication of a circular and notice of extraordinary general meeting (the "EGM") (the "Circular"), to be sent to Shareholders for the purpose of proposing a vote on the cancellation of the admission of the Company's ordinary shares to trading on AIM (the "De-Listing"), and the subsequent voluntary liquidation of the Company (the "Proposal"). The detailed reasons for and background to the Proposal are set out in the Circular. The De-Listing requires the approval of not less than 75 per cent. of the votes cast by Shareholders at the EGM.
The current timetable for the Proposal is as follows:
2020 Announcement of proposed De-Listing, 9 April posting of the Circular and Proxy Form to Shareholders EGM Record Date 24 April Latest date for receipt of Proxy Form 5:00 p.m. (London time) on 7 May Last day of dealings of Ordinary Shares 11 May on AIM Suspension of Ordinary Shares from trading 7:30 a.m. (London time) on AIM on 12 May Time and Date of the EGM 11:00 a.m. (London time) on 12 May Announcement of results of EGM 12 May Appointment of Joint Liquidators 12 May Cancellation of trading on AIM 7:00 a.m. (London time) on 13 May
If any of the above times and/or dates change, the revised times and/or dates will be notified to Shareholders by announcement through a Regulatory Information Service. All times are references to London time. All events in the above timetable following the EGM are conditional, inter alia, upon the approval of the Resolutions.
The Company's shares will be suspended from trading at 7:30 a.m. on 12 May 2020 in advance of the EGM, as the commencement of the liquidation process will render the Company inappropriate for admission to trading on AIM. Conditional on the approval of Shareholders at the EGM, the Board proposes to appoint John Royle and Margot MacInnis of Grant Thornton Specialist Services (Cayman) Limited as the joint liquidators of the Company (together the "Liquidator"). The Board will continue to manage the Company pending the De-Listing. Immediately upon and with effect from the appointment of the Liquidator at the EGM, the powers of the Board will cease, and the Liquidator will wind up the affairs of the Company. Admission of the Company's shares to trading on AIM will be cancelled with effect from 7:00 a.m. on 13 May 2020, following which the Company's shares will no longer be tradeable.
No mechanism to enable the Company's shares to be traded following cancellation will be made available to shareholders and the Company's shares will not be transferable once the Company enters liquidation without the consent of the Liquidators.
For further information please contact:
MANAGER: LEGAL COUNSEL: Patrick Boot Jon Lewis Pacific Alliance Real Estate PAG Limited 15/F, AIA Central 15/F, AIA Central 1 Connaught Road 1 Connaught Road Central, Hong Kong Central, Hong Kong T: (852) 2918 0088 T: (852) 2918 0088 F: (852) 2918 0881 F: (852) 2918 0881 jlewis@pag.com pboot@pag.com BROKER: NOMINATED ADVISER: Henry Freeman Philip Secrett Liberum Capital Limited Grant Thornton UK LLP T: (44) 20 (0) 20 3100 2000 T: (44) 20 7383 5100 www.liberum.com Philip.J.Secrett@uk.gt.com ----------------------------
About Pacific Alliance China Land Limited
Pacific Alliance China Land Limited ("PACL") (AIM: PACL) is a closed-end investment company admitted to trading on the AIM Market of the London Stock Exchange in November 2007. PACL is focused on investing in a portfolio of existing properties, new developments, distressed projects and real estate companies in Greater China.
For more information about PACL, please visit: www.pacl-fund.com
Pacific Alliance China Land Limited is managed by a member of PAG (formerly known as Pacific Alliance Group), the Asian alternative investment fund management group. Founded in 2002, PAG is now one of the region's largest Asia-focused alternative investment managers, with funds under management across Private Equity, Real Estate and Absolute Return strategies. PAG has a presence across Asia with over 400 staff working in the region.
For more information about PAG, please visit: www.pag.com
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.
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.
END
NOGEAFLNEFNEEFA
(END) Dow Jones Newswires
April 09, 2020 07:21 ET (11:21 GMT)
1 Year Pacific Alliance China L... Chart |
1 Month Pacific Alliance China L... Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions