Pacific Alliance China Land Limited Share Dealings (5752I)
June 02 2014 - 4:30AM
UK Regulatory
TIDMPACL
RNS Number : 5752I
Pacific Alliance China Land Limited
02 June 2014
2 June 2014
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 transferred a total of 696,431 of the Company's
Ordinary Shares of US$0.01 each (the "Performance Shares"), with a
value of US$1,591,762.70 based on the 30 April 2014 Net Asset Value
at US$2.2856 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$6,367,049 performance fee payable for the
fiscal year ended 31 December 2013, in accordance with the
Investment Management Agreement dated 20 November 2007.
Following this transaction, PACL Trading Limited holds a total
of 59,349,514 Ordinary Shares held to replicate a treasury
facility, which represents 31.26 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
130,484,379.
As a result of these transactions, PARE and its affiliates are
interested in 4,173,108 of the Company's Ordinary Shares which
represents 3.20 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 1,817,400 of
the Company's Ordinary Shares representing 1.39 per cent. of the
Company's total voting rights, and he has an indirect interest in
4,173,108 of the Company's Ordinary Shares, representing 3.20 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 4,173,108 of the Company's Ordinary Shares,
representing 3.20 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 Jon Lewis, General Counsel
Partner PAG
Pacific Alliance Real 15/F, AIA Central
Estate Limited 1 Connaught Road
15/F, AIA Central Central, Hong Kong
1 Connaught Road T: (852) 2918 0088
Central, Hong Kong F: (852) 2918 0881
T: (852) 2918 0088 jlewis@pagasia.com
F: (852) 2918 0881
pboot@pagasia.com
--------------------------------- ----------------------------
BROKER: NOMINATED ADVISER:
Hiroshi Funaki Philip Secrett
Edmond de Rothschild Securities Grant Thornton Corporate
T: (44) 20 7845 5960 Finance
F: (44) 20 7845 5961 T: (44) 20 7383 5100
funds@lcfr.co.uk Philip.J.Secrett@uk.gt.com
--------------------------------- ----------------------------
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$296.60
millionas at 30 April 2014. 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 340 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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