Result of EGM and Total Voting Rights

RNS Number : 3747X

Aseana Properties Limited

27 August 2015

 

27 August 2015

Aseana Properties Limited

("Aseana" or the "Company")

Result of EGM and Total Voting Rights

On 7 August 2015, Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia and Vietnam, listed on the Main Market of the London Stock Exchange, announced that it had put forward recommended Proposals regarding the introduction of a compulsory redemption mechanism to return cash to Shareholders, to be considered at an Extraordinary General Meeting of the Company.

The Company announces that at today's EGM, Shareholders have supported the Board's recommendation to vote in favour of the special resolutions to approve the Proposals set out in the EGM Circular.

The voting was as follows:

EGM Resolution:	For / Discretion votes	%	Against votes	%	Total votes cast	Withheld votes
1. Creation and issue of Management Shares	173,450,093	100	0	0	173,450,093	0

* Total/Percentage of votes cast excludes withheld votes.

Pursuant to the passing of Resolution 1, the memorandum and articles of association of the Company (the "Memorandum" and "Interim Articles" respectively) were amended and two Management Shares of US$0.05 each were issued, one to each of the Manager, being Ireka Development Management Sdn. Bhd, and Legacy Essence Limited. The Management Shares have voting rights at general meetings of the Company on the same basis as Ordinary Shares but have limited rights on a return of capital and will not be entitled to dividends declared by the Company.

Following the issuance of the Management Shares, Resolution 2 was passed and the articles further amended (the "New Articles"):

EGM Resolution:	For / Discretion votes	%	Against votes	%	Total votes cast	Withheld votes
2. Adoption of Compulsory Redemption Mechanism	173,450,093	100	0	0	173,450,093	0

* Total/Percentage of votes cast excludes withheld votes.

Words and expressions defined in the EGM Circular dated 7 August 2015 have the same meanings when used in this announcement unless defined herein or the context requires otherwise. The Interim Articles, Memorandum and Articles of the Company together with a copy of the resolutions passed at the EGM will shortly be submitted to the National Storage Mechanism located at: http://www.morningstar.co.uk/uk/NSM. For the avoidance of doubt, the current constitutional documents of the Company are the Memorandum and New Articles dated 27 August 2015.

For the purposes of the Disclosure and Transparency Rules, the Company's total issued share capital at the date of this notice comprises 212,025,000 Ordinary Shares of US$0.05 each, with one voting right per Ordinary Share and 2 Management Shares of US$0.05 each, with one voting right per Management Share. There are no shares held in treasury. The total number of voting rights in the Company is therefore 212,025,002.

The above figure of 212,025,002 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure and Transparency Rules.

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 45 years of experience in construction and property development. IDM is responsible for the day-to-day management of Aseana's property portfolio and the introduction and facilitation of new investment opportunities.

 

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