REG - Aseana Prop Ltd - Director Changes and EGM Requisitions Received

Aseana PropertiesAnnouncement

17/09/2024 08:30

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RNS Number : 4911E  Aseana Properties Limited  17 September 2024

17 September 2024

 

 

Aseana Properties Limited

("ASEANA" or the "Company")

Director changes and EGM requisitions received

 

Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia,
listed on the Main Market of the London Stock Exchange, announces that Robert
Minty has resigned as a Director of the Company with immediate effect. Hock
Chye Tan and Nick Paris will also be resigning as Directors once the Interim
Accounts for the Company for the six months to 30 June 2024 are published at
the end of September. The Board is working through the selection of new
Directors, including the appointment of a new Director to Chair the Board of
Directors.

The Company has also received two requisitions of Extraordinary General
Meetings from the LIM Asia Multi-Strategy Fund Inc. and the LIM Asia Special
Situations Master Fund Ltd. who collectively own more than 10% of the voting
shares of the Company. One requisition contains a resolution "THAT, pursuant
to Article 23.1(d) of the Articles, Nicholas John Paris be removed from office
as a director of the Company with immediate effect". The other requisition
contains a resolution "THAT in accordance with the power granted to
shareholders to give directions to the Directors pursuant to Article 20.1 of
the Articles, no payments be made to Thomas Holland or Helen Wong Siu Ming (or
companies or persons associated with them) as compensation for (1) loss of
office as a Director, (2) as a consequence of loss of office as a Director, or
(3) in connection with any employment, consultancy or other contractual
arrangements between the Company and such Director, or previous director or
person (or companies or persons associated with them) without prior disclosure
to the Company's shareholders of the results of an independent accounting and
legal investigation and review which confirms the legality or probity of any
such payments". The Directors are examining these requisitions and advise
shareholders to take no action pending a further announcement.

 

 

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, Elliot Peters
     +44 (0)207 383 5100

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