Pacific Alliance Asia Opp Fd Ld Director Dealing and Share Dealings (8182S)

TIDMPAX

RNS Number : 8182S

Pacific Alliance Asia Opp Fd Ld

05 December 2012

5 December 2012

Pacific Alliance Asia Opportunity Fund Limited

Director Dealing and Share Dealings

Pacific Alliance Asia Opportunity Fund Limited ("PAX" or the "Company") (AIM: PAX), the closed-end investment company admitted to trading on AIM, today announces that on 30 November 2012, Metage Capital Limited, an investment management firm in which a director of the Company, Mr. Richard Webb, is a director and controlling shareholder, sold 899,522 of the ordinary shares of US$0.01 each (the "Ordinary Shares") at a price of $1.25 per share.

As a result of the transaction, Mr. Webb is indirectly interested in 463,763 of the Company's Ordinary Shares, representing 0.41 per cent. of the Company's total voting rights.

In addition, the Company today announces the following share dealings for Pacific Alliance Investment Management Limited ("PAIM"), the Company's investment manager:

On 30 November 2012, PAIM Trading Limited, a wholly-owned subsidiary of PAIM purchased a total of 1,052,682 of the Company's Ordinary Shares at US$1.25 per Ordinary Share, and Pacific Alliance Group Limited, an affiliated company of PAIM purchased a total of 83,990 of the Company's Ordinary Shares at US$1.25 per Ordinary Share.

As a result of the transaction, PAIM and its affiliates are interested in 13,476,548 of the Company's Ordinary Shares which represents 11.85 per cent. of the Company's total voting rights.

As a result of PAIM's interest in the Company, both Mr. Christopher Gradel and Mr. Anthony Miller have an indirect interest in 13,476,548 of the Company's Ordinary Shares, representing 11.85 per cent. of the Company's total voting rights held by PAIM and its affiliates. Mr. Christopher Gradel is also directly interested in 5,421,341 of the Company's ordinary shares representing 4.77 per cent. of the Company's total voting rights, and Mr. Anthony Miller is directly interested in 1,068,817 of the Company's Ordinary Shares representing 0.94 per cent. of the Company's total voting rights.

For more information, please contact:

 
 MANAGER:                                  LEGAL COUNSEL: 
  Chris Gradel, Managing Partner            Jon Lewis, General Counsel 
  Pacific Alliance Investment Management    PAG 
  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 
  cgradel@pagasia.com                       jlewis@pagasia.com 
----------------------------------------  ---------------------------------- 
 BROKER:                                   NOMINATED ADVISER: 
  Hiroshi Funaki                            Philip Secrett 
  LCF Edmond de Rothschild Securities       Grant Thornton Corporate Finance 
  T: (44) 20 7845 5960                      T: (44) 20 7383 5100 
  F: (44) 20 7845 5961                      Philip.J.Secrett@uk.gt.com 
  funds@lcfr.co.uk 
----------------------------------------  ---------------------------------- 
 MEDIA RELATIONS: 
  Stephanie Barry 
  PAG 
  T: (852) 3719 3375 
  sbarry@pagasia.com 
----------------------------------------  ----------------------------------

About Pacific Alliance Asia Opportunity Fund Limited

The Pacific Alliance Asia Opportunity Fund Ltd (AIM: PAX) is a closed-end investment company with net assets of US$176.5 million as at 31 October 2012. PAX was admitted to trading on the AIM Market of the London Stock Exchange in September 2006. PAX is focused on investing in distressed credit, private equity secondaries, activist investments and other opportunities offering the possibility of unlocking the underlying value of a company or asset across the Asian markets.

For more information about Pacific Alliance Asia Opportunity Fund Limited, please visit: www.pax-fund.com

Pacific Alliance Asia Opportunity Fund 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 320 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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