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Asian Growth Props (AGP)

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Wednesday 15 October, 2008

Asian Growth Props

Director/PDMR Shareholding

RNS Number : 8751F
Asian Growth Properties Limited
15 October 2008

15th October, 2008


Change oa Director's Deemed Shareholding Interest

The board of directors of Asian Growth Properties Limited (the 'Company') (AIM Stock Code: AGP), the Hong Kong based China property development and investment company, announces that the Company received notification from Mr. Lu Wing Chi ('Mr. Lu'), an executive director of the Company of the change of his deemed interest in the ordinary shares of US$0.05 each in the Company ('Shares') today as follows:

  • Mr. Lu and the persons connected with him are presently deemed to be beneficially interested in 248,919,255 Shares which represent about 28.08% of the existing issued share capital of the Company as a result of Nan Luen International Limited ('NLI'increasing its shareholding interest in S E A Holdings Limited ('SEA') on 13th October, 2008;

2.     SEA is beneficially entitled to, in aggregate, about 97.17% of the existing issued share capital of the


3.     Mr. Lu is deemed interested in the Shares by virtue of (i) his 6.52% direct shareholding interest in JCS
        Limited ('JCS'), (ii) hi
m being a beneficial owner of a wholly-owned company which indirectly owns
        26.09% of the issued shares of JCS
 through a discretionary trust, and (iii) his 30% direct shareholding
        interest in NLI. JCS is interested in 63.58% of the issued shares of NLI
; and 


4.     Immediately before 13th October, 2008, NLI was interested in 55.76% of the issued shares of SEA. On
3th October, 2008, coincident with the exercise by certain warrant-holders of their rights for subscribing
        for SEA shares 
attached to the 2008 warrants of SEA, NLI increased its shareholding in SEA
about 56.97% after taking into account the dilutive effect on NLI's equity interest in SEA due to the said
.  As a result, Mr. Lu is deemed to have increased his beneficial interest in Shares
243,632,171 Shares (representing approximately 27.49of the issued share capital of the Company)
248,919,255 Shares (representing approximately 28.08% of the issued share capital of the Company).

For more information, please contact:

Lu Wing Chi Tel: +852 2828 6363

Executive Director

Asian Growth Properties Limited

Richard Gray Tel: +44 207 459 3600

Andrew Potts

Panmure Gordon (UK) Limited

(Nominated Advisor)

This information is provided by RNS
The company news service from the London Stock Exchange