Pacific Alliance China Land Limited Share Dealings (1047I)
July 20 2012 - 2:00AM
UK Regulatory
TIDMPACL
RNS Number : 1047I
Pacific Alliance China Land Limited
20 July 2012
20 July 2012
Pacific Alliance China Land Limited
Share Dealings
Pacific Alliance China Land Limited ("PACL" or the "Company")
(AIM: PACL) the closed-end investment company admitted to trading
on AIM, today announces the following share dealings.
On 19 July 2012, the Company transferred a total of 1,454,789 of
the Company's ordinary shares of US$0.01 each, with a value of
US$3,135,507 based on the 30 June 2012 Net Asset Value at US$2.1553
per share from PACL Trading Limited, a wholly-owned subsidiary of
the Company organized to effectively replicate the benefits of a
treasury facility, to PARE Trading Limited, a wholly-owned
subsidiary of Pacific Alliance Real Estate Limited (the "Investment
Manager"). The shares (the "Performance Shares") were transferred
to settle the 25% share based component of the US$12,542,028
performance fee payable for the fiscal year ended 31 December 2011,
in accordance with the Investment Management Agreement dated 20
November 2007.
As a result of the transaction, Mr. Geicke is directly
interested in 1,578,345 of the Company's ordinary shares
representing 1.16 per cent. of the Company's total voting rights,
and he will have an indirect interest and in 3,557,473 of the
Company's Ordinary Shares, representing 2.62 per cent. of the
Company's total voting rights held by PARE and its affiliates.
In addition, Mr. Jon-Paul Toppino, a director of the Company,
and director, President & Chief Investment Officer of PARE is
indirectly interested in 3,557,473 of the Company's Ordinary
Shares, representing 2.62 per cent. of the Company's total voting
rights held by PARE and its affiliates.
For further information, please contact:
MANAGER: LEGAL COUNSEL:
Patrick Boot, Managing Partner Jon Lewis, General Counsel
Pacific Alliance Real Estate Limited PAG
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
pboot@pagasia.com jlewis@pagasia.com
-------------------------------------- ----------------------------------
BROKER: NOMINATED ADVISER:
Hiroshi Funaki Philip Secrett
LCF Edmond de Rothschild Securities Grant Thornton Corporate Finance
T: (44) 20 7845 5960 T: (44) 20 7383 5100
F: (44) 20 7845 5961 Philip.J.Secrett@uk.gt.com
funds@lcfr.co.uk
-------------------------------------- ----------------------------------
MEDIA RELATIONS:
Stephanie Barry
PAG
T: (852) 3719 3375
sbarry@pagasia.com
-------------------------------------- ----------------------------------
About Pacific Alliance China Land Limited
Pacific Alliance China Land Limited ("PACL") (AIM: PACL) is a
closed-end investment company with net assets of US$301.5 million
as at 30 June 2012. PACL was 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 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 290 staff working in
the region.
For more information about PAG, please visit:
www.pagasia.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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