Aseana completes divestment of holding in Nam Long

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: [phone]
Chan Chee Kian		Email: [e-mail]
N+1 Singer		Tel: [phone]
James Maxwell / Liz Yong (Corporate Finance) Sam Greatrex (Sales)
Tavistock		Tel: [phone]
Jeremy Carey / James Verstringhe		Email: [e-mail]

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.

 

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