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RNS Number : 8658Y Aseana Properties Limited 08 January 2024
8 January 2024
Aseana Properties Limited
("ASEANA" or the "Company")
Asset Sale update
Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia listed
on the Main Market of the London Stock Exchange, announces that further to the
announcement made by the Company on 8 December 2023, sale negotiations for the
Sandakan hotel asset and the adjacent Harbour Mall Sandakan (the "Sandakan
Assets") are ongoing. Following the Event of Default, the holders of the
Medium Term Notes (the "Notes") that were used to finance the Sandakan Assets
have been repaid by the banks who guaranteed the Notes (the "Bank
Guarantors"). The prospective buyer of the Sandakan Assets is expecting to
put a bank guarantee in place in the next few days in favour of the Bank
Guarantors that would cover the amount of the outstanding loan. The Company
continues to liaise with the Bank Guarantors.
For further information:
Aseana Properties Limited
Nick Paris, Non-Executive Chairman
nickparis@btinternet.com (mailto:nickparis@btinternet.com)
+44 (0)7738 470550
Grant Thornton UK LLP
Philip Secrett
+44 (0)207 383 5100
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