Pacific Alliance China Land Limited Share Dealing (9067O)
June 02 2015 - 4:00AM
UK Regulatory
TIDMPACL
RNS Number : 9067O
Pacific Alliance China Land Limited
02 June 2015
2 June 2015
Pacific Alliance China Land Limited
Share Dealing
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.
On 29 May 2015, the Company transferred a total of 96,403 of the
Company's Ordinary Shares of US$0.01 each (the "Performance
Shares"), with a value of US$254,156.87 based on the 30 April 2015
Net Asset Value at US$2.6364 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. PARE Trading Limited is a wholly-owned subsidiary of the
Company's investment manager, Pacific Alliance Real Estate Limited
("PARE"). The Performance Shares were transferred to settle the 25%
share based component of the US$1,016,628 performance fee payable
to PARE for the fiscal year ended 31 December 2014, in accordance
with the investment management agreement dated 20 November 2007
between the Company and PARE.
As a result of this transaction, PACL Trading Limited no longer
holds any of the Company's Ordinary Shares. The total number of
Ordinary Shares currently in issue with voting rights is therefore
103,887,384 Ordinary Shares. PARE Trading Limited is interested in
3,765,920 of the Company's Ordinary Shares representing 3.63 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 1.75 per cent. of the
Company's total voting rights, and he has an indirect interest in
3,979,912 of the Company's Ordinary Shares, representing 3.83 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 3,979,912 of the Company's Ordinary Shares,
representing 3.83 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 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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