Pacific Alliance China Land Limited Investment Realisation: Project Speed (4380X)

TIDMPACL

RNS Number : 4380X

Pacific Alliance China Land Limited

10 January 2014

Pacific Alliance China Land Limited

Investment Realisation : Project Speed

Pacific Alliance China Land Limited ("PACL" or the "Company") (AIM: PACL), today announced that Project Speed is fully realised. The investment was in the form of a bridge loan to Times Property Holdings Limited, which is a developer focusing on residential developments in southern China. The Company received total consideration of USD 35 million with a profit of USD$13.9 million, representing a gross IRR of 10.2% and a cash multiple of 1.7x, respectively. The proceeds from this realisation will be utilized as per the current distribution policy.

For further information please contact:

 
 MANAGER:                          LEGAL COUNSEL: 
  Patrick Boot, Managing Partner    Jon Lewis, Group General 
  Pacific Alliance Real Estate      Counsel 
  Limited                           PAG 
  T: (852) 2918 0088                T: (852) 2918 0088 
  pboot@pagasia.com                 jlewis@pagasia.com 
 BROKER:                           NOMINATED ADVISER: 
  Hiroshi Funaki                    Philip Secrett 
  LCF Edmond de Rothschild          Grant Thornton UK LLP 
  Securities                        Tel: (44) 20 7383 5100 
  Tel: (44) 20 7845 5960            Philip.J.Secrett@uk.gt.com 
  funds@lcfr.co.uk 
 MEDIA RELATIONS: 
  Stephanie Barry 
  PAG 
  T: (852) 3719 3375 
  sbarry@pagasia.com

Notes to Editors:

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$312.28 million as at 30 September 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 PACL, please visit: http://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

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