Major Interest in Shares

RNS Number : 9195R

Aseana Properties Limited

08 May 2009

 



Date:                                 8 May 2009

On behalf of:                     Aseana Properties Limited ('Aseana' or 'the Company')

Immediate Release

Aseana Properties Limited

§         Major interest in Shares

Aseana Properties Limited was notified on 5 May 2009 that the percentage holding of two major shareholders has changed following the buyback of 25,000,000 ordinary shares, as previously announced on 23 April 2009. These shares are now held in treasury. The voting issued share capital in Aseana Properties following this transaction is 225,000,000.  Due to this action, the following changes occurred:

• Ireka Corporation Berhad now holds 21.74% of the voting rights in Aseana, while the number of shares they hold remains at 48,913,623.

• Goldman Sachs Securities, on behalf of Legacy Essence Limited, at the time of notification holds 17.37% of the voting rights in Aseana, while the number of shares they hold remains at 39,086,377.

Aseana is listed on the Main List of the London Stock Exchange.

-Ends-

Enquiries:

Redleaf Communications	Tel: [phone]
Samantha Robbins / Adam Leviton / Kathryn Hurford	Email: [e-mail]
Fairfax I.S. PLC	Tel: [phone]
James King / Gillian McCarthy

Notes to Editors

 

§         Ireka Development Management, the Development Manager for Aseana Properties Limited, is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has over 40 years of experience in construction and property development.

 

§         Aseana Properties Limited typically invests in development projects at pre-construction stage, with a primary focus on locations within the major cities of Malaysia and Vietnam. 

 

§         Investment is made in projects where it is believed there will be a minimum 30% annualised return on equity (“ROE”) on investments in Vietnam and a minimum 20% ROE on investments in Malaysia.

 

§         No one underlying single asset will account for more than 30% of the gross assets of the Company at the time of investment.

 

§         The Directors believe the following factors should provide sustainable growth in the real estate sectors of both Malaysia and Vietnam:

o        An increasing standard of living and urbanisation driven by a burgeoning young and middle class population

o        Clear Government role in encouraging participation of private sectors in real estate development, as well as encouraging and promoting land and property ownership

o        Improving availability of mortgages to encourage property ownership

o        Favoured Foreign Direct Investment (FDI) destinations driving demand for commercial and industrial properties

 

END

 

 

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