Pacific Alliance China Land Limited Director Shareholding (1589G)
June 03 2013 - 9:35AM
UK Regulatory
TIDMPACL
RNS Number : 1589G
Pacific Alliance China Land Limited
03 June 2013
3 June 2013
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, announces the following dealings in the Company.
The Company has been informed that on 31 May 2013:
1. PARE Trading Limited, a wholly-owned subsidiary of Pacific
Alliance Real Estate Limited ("PARE"), the Company's investment
manager (the "Investment Manager"), transferred a total of 120,693
of the Company's ordinary shares of US$0.01 each (the "Ordinary
Shares") to its staff; and
2. the Company transferred a total of 530,514 of the Company's
Ordinary Shares of US$0.01 each (the "Performance Shares"), with a
value of US$1,216,787 based on the 30 April 2013 Net Asset Value at
US$2.2936 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. The
Performance Shares were transferred to settle the 25% share based
component of the US$4,867,149 performance fee payable for the
fiscal year ended 31 December 2012, in accordance with the
Investment Management Agreement dated 20 November 2007.
Following this transaction, PACL Trading Limited holds a total
of 58,505,113 Ordinary Shares held to replicate a treasury
facility, which represents 30.81 per cent. of the Company's
189,833,893 Ordinary Shares in issue and as a result of this
transaction, total voting rights in the Company have increased to
131,328,780.
As a result of these transactions, PARE and its affiliates are
interested in 3,998,029 of the Company's Ordinary Shares which
represents 3.04 per cent. of the Company's total voting rights.
As a result of PARE's interest in the Company, Mr. Horst Geicke,
a director of the Company, is directly interested in 1,717,400 of
the Company's Ordinary Shares representing 1.31 per cent. of the
Company's total voting rights, and he has an indirect interest in
3,998,029 of the Company's Ordinary Shares, representing 3.04 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, has
an indirect interest in 3,998,029 of the Company's Ordinary Shares,
representing 3.04 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$302.94 million
as at 30 April 2013. 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 Pacific Alliance China Land Limited,
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 320 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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