Aseana Properties Limited Sale land in Kota Kinabalu, Sabah, Malaysia (2189T)

TIDMASPL

RNS Number : 2189T

Aseana Properties Limited

17 July 2020

17 July, 2020

Aseana Properties Limited

("Aseana" or the "Company")

Sale of two land plots in Kota Kinabalu, Sabah, Malaysia

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 it has entered into two Sale and Purchase Agreements to sell its remaining two plots of land in Kota Kinabalu to a party related to Ireka Development Management, the former Development Manager of the Company, for a total cash consideration of approximately US$4 million, which represents a 10% discount to their unaudited Net Asset Value as at 31 December 2019. The Company will receive a 20% cash deposit and the balance of the proceeds are expected to be received when the sales complete in three months time.

This sale is not dependent on the completion of the demerger transaction that was announced by the Company on 15 July 2020.

For further information:

 
 Aseana Properties Limited          Tel: 020 7920 3150 
 (via Tavistock) 
 Liberum Capital                    Tel: 020 3100 2000 
 Gillian Martin / Owen Matthews 
 Tavistock                          Tel: 020 7920 3150/07836 734 625 
 Jeremy Carey / James Verstringhe   jeremy.carey@tavistock.co.uk

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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