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S E A Holdings Limited — Capital/Financing Update 2016
Feb 26, 2016
49068_rns_2016-02-26_b00cdb69-e253-4a51-a41a-d6ed9de3e6c7.pdf
Capital/Financing Update
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
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S E A HOLDINGS LIMITED 爪 哇 控 股 有 限 公 司 *****
( Incorporated in Bermuda with limited liability ) (Stock Code : 251)
OVERSEAS REGULATORY ANNOUNCEMENT
This overseas regulatory announcement is made by S E A Holdings Limited (the “ Company ”) pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
Asian Growth Properties Limited (“ AGP ”) is a company listed on the AIM Market of London Stock Exchange plc. (“ LSE ”) and a 97.17%-owned subsidiary of the Company. Please refer to the attached announcement on the next page published on LSE by AGP on 25 February 2016.
The directors of the Company as at the date of this announcement are:
Executive Directors: Independent Non-executive Directors: Mr. Lu Wing Chi (Chairman and Managing Director) Mr. Walujo Santoso, Wally Mr. Lu Wing Yuk, Andrew Mr. Leung Hok Lim Mr. Lincoln Lu Mr. Chung Pui Lam Mr. Lambert Lu
Non-executive Director: Mr. Lam Sing Tai
Hong Kong, 26 February 2016
* For identification purpose only
25 February 2016
Asian Growth Properties Limited
(“AGP” or the “Company”)
Proposed Disposal of Property
The Company is pleased to announce that a subsidiary of AGP and AGP today entered into a sale agreement with China Everbright Holdings Company Limited and its subsidiary Gao Sheng Global Limited, who are unrelated third parties, for the proposed disposal of the property known as Dah Sing Financial Centre held by the AGP Group in Hong Kong for a gross consideration of approximately HK$10,000 million (approximately £926 million) in cash (subject to certain adjustments).
Assuming the Disposal proceeds to Completion, the AGP Group will receive a gross cash consideration of approximately HK$10,000 million (approximately £926 million). After repayment of bank loans of approximately HK$1,981 million (approximately £183 million), the AGP Group will receive a net consideration of approximately HK$8,019 million (approximately £743 million), before deducting transaction costs and expenses.
Dah Sing Financial Centre is a 38-storey commercial and office building situated at 108 Gloucester Road, Wanchai, Hong Kong with a gross floor area of approximately 37,214 square metres and 156 car parking spaces
Under Rule 15 of the AIM Rules, the disposal of Dah Sing Financial Centre is deemed to be a disposal resulting in a fundamental change of business of the Company, and as such requires the approval, by way of ordinary resolution, of the Company’s shareholders.
A more detailed update will be provided shortly, together with a circular to shareholders.
For the purposes of this announcement an exchange rate of £1 = HK$10.799 is used.
For more information, please contact:
Lu Wing Chi Tel: +852 2828 6363
Executive Director
Asian Growth Properties Limited
Richard Gray Tel: +44 207 886 2500
Andrew Potts
Panmure Gordon (UK) Limited
(Nominated Advisor)