REG - Aseana Prop Ltd - Sale of Treasury Shares and Total Voting Rights

Aseana PropertiesAnnouncement

17/03/2025 15:45

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RNS Number : 9934A  Aseana Properties Limited  17 March 2025

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
EU REGULATION 596/2014 AS IT FORMS PART OF DOMESTIC LAW IN THE UNITED KINGDOM
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE
INFORMATION WILL BE CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

17 March 2025

 

Aseana Properties Limited

(the "Company" the "Group" or "Aseana")

 

Sale of Treasury Shares

and

Total Voting Rights

 

Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia listed
on the main market of the London Stock Exchange, is pleased to announce that
it has today entered into an agreement to raise approximately $1.07 million
(before expenses) by way of a private placement of 13,334,000 existing
ordinary shares of US$0.05 each in the capital of the Company ("Ordinary
Shares") currently held in treasury by the Company (the "Treasury Shares") at
a price of US$0.08 per share (the "Placement").

 

The Treasury Shares have been acquired by a new investor and the Company
anticipates receiving the funds from the Placement on or around 20 March 2025.

 

The Treasury Shares represent 5.52 per cent of the issued share capital of the
Company and following completion of the Placement, the 13,334,000 Ordinary
Shares will no longer be held in treasury by the Company.

It is intended for the net proceeds of the Placement to be utilised by the
Company to address the financial challenges affecting its operations and in
particular to repay certain outstanding bank facilities to forestall
foreclosure actions initiated by the receivers and managers of ICSD Ventures
Sdn. Bhd., the owner of the Sandakan asset, which is currently in
receivership, as announced by Aseana on 6 November 2024.

Total Voting Rights

 

In compliance with the FCA's Disclosure Guidance and Transparency Rules (the
"Rules"), following the sale of the Treasury Shares, the Company has an issued
share capital of 241,377,496 Ordinary Shares of US$0.05 each with one vote per
Ordinary Share, and 2 Management Shares of $0.05 each, with one vote per
Management Share. The figure includes 33,552,501 Ordinary Shares which are yet
to be admitted to trading.

 

Therefore, following completion of the sale of the Treasury Shares, the total
number of voting rights in Aseana is 241,377,498 and this figure may be used
by shareholders as the denominator for the calculations by which they can
determine if they are required to notify their interest in, or a change to
their interest in the Company under the Rules.

 

 

Enquiries:

 

 Aseana Properties Limited
 Leong Kheng Cheong                            kc.leong@aseanapropertieslimited.com

                                             (mailto:kc.leong@aseanapropertieslimited.com)
 Tian Huat Lim

                                             thlim@aseanaplc.com (mailto:thlim@aseanaplc.com)
 Thong Kok Cheong

                                               kcthong@aseanaplc.com (mailto:kcthong@aseanaplc.com)

 Allenby Capital Limited (Financial Adviser)   +44 (0) 20 3328 5656
 Nick Naylor / Nick Athanas / Ashur Joseph

 

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