AGP Asian Growth Properties

TIDMAGP

RNS Number : 3547E

Asian Growth Properties Limited

05 May 2017

 
 
 
 
    NAN LUEN INTERNATIONAL          ASIAN GROWTH PROPERTIES 
           LIMITED                          LIMITED 
   (Incorporated in Bermuda     (An Exempted Company Registered 
   with limited liability)                in Bermuda 
                                    with Limited Liability 
                                  with Registered No. 52097) 
                                     (AIM Stock Code: AGP) 
 

JOINT ANNOUNCEMENT

DELAY IN DESPATCH OF COMPOSITE DOCUMENT

Financial adviser to Nan Luen International Limited

Reference is made to the joint announcement of S E A Holdings Limited ("SEA") and Nan Luen International Limited (the "Offeror") dated 31 March 2017 in relation to, among other things, the Share Exchange Offer ("Joint Announcement") and the joint announcement of SEA and the Offeror dated 18 April 2017 in relation to the revised timetable (the "Revised Timetable Announcement"). Unless the context otherwise requires, capitalised terms used herein shall bear the same meanings as defined in the Joint Announcement.

Pursuant to Rule 8.2 of the Takeovers Code, the Composite Document, together with the accompanying form of acceptance and transfer regarding the Share Exchange Offer, are required to be despatched to the AGP Qualifying Shareholders (both existing and arising as a result of the Distribution in Specie) within 35 days of the date of the Joint Announcement, i.e. on or before 5 May 2017, unless consent is granted by the Executive to extend the deadline for the despatch of the Composite Document.

As disclosed in the Revised Timetable Announcement, completion of the Distribution in Specie is scheduled to take place on 15 May 2017. Since the Share Exchange Offer is pre-conditional upon the completion of the Distribution in Specie and more time is required to finalise the information to be included in the Composite Document, an application has been made to the Executive pursuant to Rule 8.2 of the Takeovers Code for its consent to extend the latest time for the despatch of the Composite Document and the accompanying form of acceptance and transfer regarding the Share Exchange Offer to 16 May 2017, and the Executive has indicated that it is minded to grant such consent.

Further announcement(s) will be jointly made by the Offeror and AGP as and when appropriate.

 
 On behalf of the board    On behalf of the AGP Board 
     of directors of                   of 
  Nan Luen International     Asian Growth Properties 
         Limited                     Limited 
       Lu Wing Chi                 Lu Wing Chi 
         Director              Executive Director 
 

Hong Kong, 5 May 2017

The directors of the Offeror as at the date of this joint announcement are:

 
 Mr. Lu Wing Chi 
  Mr. Lincoln Lu 
  Mr. Lambert Lu 
 

The AGP Directors as at the date of this joint announcement are:

Richard Öther Prickett (Non-executive Chairman and Independent Non-executive Director)

Lu Wing Chi (Executive Director)

Lambert Lu (Executive Director)

David Andrew Runciman (Executive Director)

Lincoln Lu (Executive Director)

Lam Sing Tai (Non-executive Director)

John David Orchard Fulton (Independent Non-executive Director)

The directors of the Offeror jointly and severally accept full responsibility for the accuracy of the information contained in this joint announcement (other than that relating to AGP) and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this joint announcement (other than those expressed by the AGP Directors) have been arrived at after due and careful consideration and there are no other facts not contained in this joint announcement, the omission of which would make any statement in this joint announcement misleading.

The AGP Directors jointly and severally accept full responsibility for the accuracy of the information contained in this joint announcement (other than that relating to the Offeror and parties acting in concert with it) and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this joint announcement (other than those expressed by the directors of the Offeror) have been arrived at after due and careful consideration and there are no other facts not contained in this joint announcement, the omission of which would make any statement in this joint announcement misleading.

For more information, please contact:

Lu Wing Chi Tel: +852 2828 6363

Executive Director

Asian Growth Properties Limited

   Richard Gray/Andrew Potts/Atholl Tweedie                                  Tel: +44 207 886 2500 

Panmure Gordon (UK) Limited

(Nominated Adviser)

This information is provided by RNS

The company news service from the London Stock Exchange

END

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May 05, 2017 08:02 ET (12:02 GMT)

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