TIDMPACL

RNS Number : 1630M

Pacific Alliance China Land Limited

06 May 2020

6 May 2020

CORRECTION AND ADDITIONAL INFORMATION

Pacific Alliance China Land Limited

Cancellation of Admission of Ordinary Shares to Trading on AIM

Voluntary Liquidation of the Company

And

Extraordinary General Meeting

Pacific Alliance China Land Limited (" PACL " or the "Company") (AIM: PACL), the closed-end investment company admitted to trading on AIM, announces a correction to the facsimile number included in the circular and notice of extraordinary general meeting (the "EGM") (the "Circular"), that was sent to Shareholders on 9 April 2020 for the purpose of proposing a vote on the cancellation of the admission of the Company's ordinary shares to trading on AIM (the "De-Listing"), and the subsequent voluntary liquidation of the Company (the "Proposal").

The correct facsimile number is:

+44 (0) 1534 769 770

Attn: Noel Walsh

In addition, proxies will be accepted if sent by email to the following email address:

PACL@sannegroup.com

The timetable for the Proposal remains as follows:

 
                                                                 2020 
   Announcement of proposed De-Listing, posting        9 April 
    of the Circular and Proxy Form to Shareholders 
   EGM Record Date                                     24 April 
    Latest date for receipt of Proxy Form               5:00 p.m. (London time) 
                                                        on 7 May 
   Last day of dealings of Ordinary Shares             11 May 
    on AIM 
   Suspension of Ordinary Shares from trading          7:30 a.m. (London time) 
    on AIM                                              on 12 May 
   Time and Date of the EGM                            11:00 a.m. (London time) 
                                                        on 12 May 
   Announcement of results of EGM                      12 May 
   Appointment of Joint Liquidators                    12 May 
   Cancellation of trading on AIM                      7:00 a.m. (London time) 
                                                        on 13 May 
 
 
 
 

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. All times are references to London time. All events in the above timetable following the EGM are conditional, inter alia, upon the approval of the Resolutions.

The Company's shares will be suspended from trading at 7:30 a.m. on 12 May 2020 in advance of the EGM, as the commencement of the liquidation process will render the Company inappropriate for admission to trading on AIM. Conditional on the approval of Shareholders at the EGM, the Board proposes to appoint John Royle and Margot MacInnis of Grant Thornton Specialist Services (Cayman) Limited as the joint liquidators of the Company (together the "Liquidator"). The Board will continue to manage the Company pending the De-Listing. Immediately upon and with effect from the appointment of the Liquidator at the EGM, the powers of the Board will cease, and the Liquidator will wind up the affairs of the Company. Admission of the Company's shares to trading on AIM will be cancelled with effect from 7:00 a.m. on 13 May 2020, following which the Company's shares will no longer be tradeable.

No mechanism to enable the Company's shares to be traded following cancellation will be made available to shareholders and the Company's shares will not be transferable once the Company enters liquidation without the consent of the Liquidators.

For further information please contact:

 
 MANAGER:                        LEGAL COUNSEL: 
  Patrick Boot                    Jon Lewis 
  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@pag.com 
  pboot@pag.com 
 BROKER:                         NOMINATED ADVISER: 
  Henry Freeman                   Philip Secrett 
  Liberum Capital Limited         Grant Thornton UK LLP 
  T: (44) 20 (0) 20 3100 2000     T: (44) 20 7383 5100 
  www.liberum.com                 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 400 staff working in the region.

For more information about PAG, please visit: www.pag.com

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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May 06, 2020 09:27 ET (13:27 GMT)

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