Pacific Alliance China Land Limited Notice of EGM (2833G)
November 19 2015 - 11:07AM
UK Regulatory
TIDMPACL
RNS Number : 2833G
Pacific Alliance China Land Limited
19 November 2015
19 November 2015
Pacific Alliance China Land Limited
Notice of EGM
Pacific Alliance China Land Limited ("PACL") (AIM: PACL), the
closed-end investment company admitted to trading on AIM, hereby
gives notice of a forthcoming Extraordinary General Meeting to be
held on 18 December 2015 at 2:00 p.m. (CST) at the Four Seasons
Hotel, Cotai Strip, Estrada da Baia de N. Senhora da Esperanca, S/N
Taipa, Macau.
1. Introduction
In the Company's Admission Document, the Board undertook to
convene an extraordinary general meeting of the Company in 2015
where a special resolution would be proposed that the Company
continue as presently constituted. The Board is therefore convening
the EGM to propose this Continuation Resolution in accordance with
the Admission Document.
In light of the Company's current realisation investment policy,
adopted in 2014, which continues to focus on the realisation of the
Company's portfolio and the return of net realisation proceeds to
Shareholders, the Board is recommending that Shareholders vote FOR
the Continuation Resolution to allow the Company to complete the
process of realising its investments.
If the Continuation Resolution is passed, the Board intends that
a similar resolution will be proposed at an extraordinary general
meeting to be convened each fifth subsequent year thereafter.
In the event that the Continuation Resolution is not passed, the
Board will consult with Shareholders to formulate proposals to be
put to Shareholders to reorganise, unitise or reconstruct the
Company or for the Company to be wound up.
The Continuation Resolution is classified as a special
resolution, requiring a Shareholder approval threshold of 66.67% of
Shareholders present and voting.
2. The Continuation Resolution
The Continuation Resolution, which will be proposed as a special
resolution, will be proposed at the EGM. The Directors consider the
Continuation Resolution proposed at the EGM to be in the best
interests of the Company and Shareholders as a whole.
The Directors unanimously recommend Shareholders vote in favour
of the Continuation Resolution proposed at the EGM.
Terms have the same meaning as defined in the Circular.
3. Expected Timetable of Principal Events
EGM Record Date 5:00 p.m. (Jersey time)
on Wednesday, 18 November
2015
Latest time and date for receipt of Forms 7:00 a.m. (Jersey time)
of Proxy on Wednesday, 16 December
2015
Time and date of EGM 2:00 p.m. (CST) on Friday,
18 December 2015
Announcement of results of EGM Friday, 18 December 2015
If any of the above times and/or dates change, the revised times
and/or dates will be notified to Shareholders by announcement
through a Regulatory Information Service.
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
--------------------------------- ----------------------------
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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