Aseana Properties Limited Aseana completes divestment of holding in Nam Long (0834O)
November 02 2016 - 3:00AM
UK Regulatory
TIDMASPL
RNS Number : 0834O
Aseana Properties Limited
02 November 2016
The announcement contains inside information
Aseana Properties Limited
("Aseana" or the "Company")
Aseana completes divestment of holding in Nam Long Investment
Corporation
Aseana Properties Limited (LSE: ASPL), a property developer in
Malaysia and Vietnam listed on the Main Market of the London Stock
Exchange, announces that on 2 November 2016 it sold its remaining
stake in Nam Long Investment Corporation ("Nam Long"), a real
estate developer in Vietnam listed on the Ho Chi Minh Stock
Exchange (HOSE: NLG). The sale of 3,908,773 shares at a price of
VND22,000 (US$0.986*) per share generated total proceeds of
VND85.99 billion (US$3.85 million*).
This sale completes Aseana's divestment of its shareholding in
Nam Long, in line with the Company's overall divestment strategy
and its intention to make capital distributions to shareholders
upon receipt of consents from its lenders.
* Based on an exchange rate of US$1.00 to VND22,319.
For further information:
Aseana Properties Limited Tel: +603 6411 6388
Chan Chee Kian Email: cheekian.chan@ireka.com.my
N+1 Singer Tel: 020 7496 3000
James Maxwell / Liz Yong (Corporate
Finance)
Sam Greatrex (Sales)
Tavistock Tel: 020 7920 3150
Jeremy Carey / James Verstringhe Email: jcarey@tavistock.co.uk
Notes to Editors:
London-listed Aseana Properties Limited (LSE: ASPL) is a
property developer investing in Malaysia and Vietnam.
Ireka Development Management Sdn Bhd ("IDM") is the exclusive
Development Manager for Aseana. It is a wholly-owned subsidiary of
Ireka Corporation Berhad, a company listed on the Bursa Malaysia
since 1993, which has over 49 years of experience in construction
and property development. IDM is responsible for the day-to-day
management of Aseana's property portfolio.
This information is provided by RNS
The company news service from the London Stock Exchange
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November 02, 2016 03:00 ET (07:00 GMT)