Aseana Properties Limited First Distribution Update (8709E)
November 06 2015 - 6:35AM
UK Regulatory
TIDMASPL
RNS Number : 8709E
Aseana Properties Limited
06 November 2015
6 November 2015
Aseana Properties Limited
("Aseana" or the "Company")
First Distribution Update
Aseana Properties Limited (LSE: ASPL), a property developer in
Malaysia and Vietnam, listed on the Main Market of the London Stock
Exchange, today provides a further update on its planned
redemption.
As announced on 15 October 2015, on 27 August 2015 Ireka
Development Management Sdn. Bhd. (the "Manager") submitted
applications for lenders' consents over a first distribution to
Shareholders of US$10 million ("First Distribution") by way of a
redemption of shares, which were expected to be granted before the
end of September. The Manager has been liaising intensively with
the lenders and has already obtained some consents. However, at the
time of this announcement, consents from the remaining lenders for
the first Distribution are still outstanding.
The Board and the Manager are strongly committed to returning
cash to Shareholders and the Board intends to make the First
Distribution as soon as possible. As stated in the EGM Circular
published on 27 August 2015, the Company may consider other methods
of returning cash to Shareholders, if it is in Shareholders' best
interests to do so. Should the remaining consents over the First
Distribution not be forthcoming in the near future, the Board will
consider alternative methods to return cash to shareholders in a
timely manner. It is intended that all Shareholders will be treated
equally under any distribution.
The Company will provide a further update to Shareholders as
soon as there is significant progress or by the first week of
December.
For further information:
Aseana Properties Limited Tel: 603 6411 6388
Chan Chee Kian Email: cheekian.chan@ireka.com.my
N+1 Singer Tel: 020 7496 3000
James Maxwell / Liz Yong
(Corporate Finance)
Sam Greatrex (Sales)
Tavistock Tel: 020 7920 3150
Jeremy Carey / James Verstringhe Email: jcarey@tavistock.co.uk
Notes to Editors:
London-listed Aseana Properties Limited (LSE: ASPL) is a
property developer investing in Malaysia and Vietnam.
Ireka Development Management Sdn Bhd ("IDM") is the exclusive
Development Manager for Aseana. It is a wholly-owned subsidiary of
Ireka Corporation Berhad, a company listed on the Bursa Malaysia
since 1993, which has over 45 years of experience in construction
and property development. IDM is responsible for the day-to-day
management of Aseana's property portfolio and the introduction and
facilitation of new investment opportunities.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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