Pacific Alliance China Land Limited Cancellation of Treasury Shares (6546E)

TIDMPACL

RNS Number : 6546E

Pacific Alliance China Land Limited

11 February 2015

Pacific Alliance China Land Limited

Cancellation of Treasury Shares

Pacific Alliance China Fund Limited ("PACL" or the "Company") (AIM: PACL), the closed-end investment company admitted to trading on AIM, today announces that it has cancelled the 76,331,127 ordinary shares of the Company's capital that were held by its wholly-owned subsidiary, PACL Trading Limited, to replicate a treasury share facility (the "Treasury Shares").

The Treasury Shares were not counted as issued and outstanding for purposes of determining the Company's net asset value per share, nor were they capable of being voted by the Company or of participating in any dividend or other shareholder distribution. As the Company is now a realisation vehicle, the Board determined there was no longer a need for a treasury share facility and as such, the Treasury Shares have been cancelled, for no consideration, upon their surrender by PACL Trading Limited.

Following the cancellation, the Company no longer holds any shares in treasury and the issued share capital of the Company remains unchanged at 113,502,766 ordinary shares.

For further information please contact:

 
 MANAGER:                           LEGAL COUNSEL: 
  Patrick Boot, Managing Partner     Jon Lewis, Group General Counsel 
  Pacific Alliance Real Estate       PAG 
  Limited                            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                 jlewis@pagasia.com 
  pboot@pagasia.com 
---------------------------------  ---------------------------------- 
 FINANCIAL ADVISER AND BROKER:      NOMINATED ADVISER: 
  Hiroshi Funaki                     Philip Secrett 
  Edmond de Rothschild Securities    Grant Thornton UK LLP 
  T: (44) 20 7845 5960               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 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 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 300 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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