Pacific Alliance China Land Limited Investment Realisation (0016Y)

TIDMPACL

RNS Number : 0016Y

Pacific Alliance China Land Limited

26 November 2014

Pacific Alliance China Land Limited

Investment Realisation: Project Crystal

Pacific Alliance China Land Limited ("PACL" or the "Company") (AIM: PACL), today announced that it has completed the sale of its 4.6 percent interest in Forterra Trust, a Singapore business trust listed on Singapore Exchange Securities Trading Limited (Project Crystal). PACL will receive cash proceeds of SGD26.4 million (USD equivalent of 20.3 million), representing a gross IRR of 20.9 percent (or a 1.48x gross cash multiple) and a premium of USD5.7 million over PACL's most recent valuation.

The realization proceeds will be distributed through a future share repurchase or another method to be determined by the Board.

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:

Pacific Alliance China Land Limited ("PACL") (AIM: PACL) is a closed-end investment company focused on investing in a portfolio of existing properties, new developments, distressed projects and real estate companies in Greater China. PACL was admitted to trading on the AIM Market of the London Stock Exchange in November 2007.

For more information about PACL, please visit: www.pacl-fund.com

Pacific Alliance China Land Limited is managed by 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 330 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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