REG - Aseana Prop Ltd - Further sale of Ruma assets and Director changes

Aseana PropertiesAnnouncement

30/09/2024 11:30

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RNS Number : 2500G  Aseana Properties Limited  30 September 2024

30 September 2024

 

 

Aseana Properties Limited

("ASEANA" or the "Company")

Further sale of Ruma residences, transition update and Director changes

 

Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia,
listed on the Main Market of the London Stock Exchange, announces following
its update on 29 August 2024, that a further 5 RuMa residences have been sold
by our existing divestment team and Sale and Purchase Agreements have been
signed and sale deposits received on 4 of them with the 5(th) expected to be
signed and a deposit received shortly. The remaining 20 RuMa residences are
still available for sale.

Arrangements have now been made and new resources put in place to transition
to a new team who will manage the Company's operations and divestments. As a
result, the existing management team are leaving the Company with immediate
effect. Nick Paris, Chairman of the Company recorded his thanks to them on
behalf of all Shareholders for their hard work.

Now that the transition to the new management arrangements has been concluded,
Nick Paris resigned as Chairman of the Board and a Director of the Company and
Hock Chye Tan resigned as a Director with immediate effect. In addition, Mr
Tian Huat Lim was appointed as an independent non-executive Director. He was
formerly a partner at Ernst & Young specialising in restructuring and
insolvency and is a member of the Malaysian institute of Accountants. He was a
Director of Anglo-Eastern Plantations PLC which is listed on the London Stock
Exchange from 2015 to June 2024. He is currently Executive Chairman of Rodgers
Reidy & Co. which operate an international insolvency network around
Australasia.

 

For further information:

 

Aseana Properties Limited

Thong Kok Cheong
       k_c_thong@hotmail.com

Grant Thornton UK LLP

Philip Secrett, Elliot Peters
     +44 (0)207 383 5100

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