REG - Aseana Prop Ltd - Working capital and Sandakan sale update

Aseana PropertiesAnnouncement

09/10/2024 14:45

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RNS Number : 5872H  Aseana Properties Limited  09 October 2024

9 October 2024

 

Aseana Properties Limited

 

("ASEANA" or the "Company")

 

Working capital and Sandakan sale update

 

Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia listed
on the Main Market of the London Stock Exchange, announces that it has
reviewed the full-year cash flow based on updated information. Further
investigation continues, but up to USD 5 million of working capital is
expected to be required by year-end 2024.

 

The Company has issued a termination notice to the purchaser of the Sandakan
asset as no further progress has been made on the sale process.

 

The Company continues aggressively marketing all assets (residences and land)
while exploring various options to raise working capital including a possible
equity issue.

 

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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