PROPOSAL FOR THE VOLUNTARY WINDING-UP OF THE COMPANY THROUGH THE DISPOSAL OF ASSETS TO ASIAN GROWTH PROPERTIES CO. LIMITED
THE PAYMENT OF SUBSTANTIALLY ALL THE COMPANY’S ASSETS TO AGP SHAREHOLDERS BY WAY OF A SPECIAL DISTRIBUTION
THE CANCELLATION OF THE ADMISSION OF AGP SHARES TO TRADING ON AIM
THE APPOINTMENT OF THE LIQUIDATORS AND THE VOLUNTARY WINDING-UP OF THE COMPANY
AND
AMENDMENT TO THE BYE-LAWS OF THE COMPANY
The Company is pleased to announce today the Proposed Disposal, Distribution and Winding-Up, which means the proposal for the voluntary winding-up of AGP through:
(i) The disposal of assets to AGPCL,
(ii) The payment of substantially all AGP’s assets to the AGP Shareholders by way of a special distribution,
(iii) The cancellation of the admission of AGP Shares to trading on AIM,
(iv) The appointment of the Liquidators, and
(v) The winding-up of AGP.
A circular to AGP Shareholders will shortly be available on the Company’s website at www.asiangrowth.com and has been posted to AGP Shareholders.
Extracts from the circular to AGP Shareholders are set out below.
The capitalised terms used in this announcement have the meaning set out in Appendix III to this announcement.
Sterling Pound and Hong Kong Dollar conversions throughout this announcement are based on the exchange rate of £1: HK$10.253.
This announcement contains inside information.
APPENDIX II
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
|
Events |
Expected date |
|
Publication of the Circular |
Monday, 13 November 2017
|
|
Latest time and date for receipt of Forms of Instruction for the SGM
|
no later than 8:00 a.m. (Hong Kong time 4:00 p.m. on Friday, 1 December 2017
|
|
Latest time and date for receipt of Forms of Proxy for the SGM
|
no later than 8:00 a.m. (Hong Kong time 4:00 p.m.) on Monday, 4 December 2017
|
|
Date and time of the SGM |
8:00 a.m. (Hong Kong time 4:00 p.m.) on Wednesday, 6 December 2017
|
|
Proposed date of completion of SPA |
Wednesday, 6 December 2017
|
|
Effective date of the Capital Reduction
|
Thursday, 7 December 2017
|
|
AGP Shares marked ex-dividend |
Thursday, 7 December 2017
|
|
Record date for the AGP Special Distribution Payment |
Friday, 8 December 2017
|
|
AGP Special Distribution Payment date |
Monday, 18 December 2017 |
|
Last day of dealings in AGP Shares on AIM |
Tuesday, 19 December 2017 |
|
Date of cancellation of admission of AGP Shares to trading on AIM becoming effective |
Wednesday, 20 December 2017 |
|
Proposed commencement date of winding-up of the Company |
Wednesday, 20 December 2017 |
Notes
1 Each of the times and dates in the above timetable is subject to change. If any of the above times and/or dates change, the revised times and/or dates will be notified to holders of AGP Shares by announcement on a Regulatory Information Service.
2 All of the above times refer to United Kingdom time unless otherwise indicated.
3 The events in the above timetable following the SGM are conditional upon, inter alia, approval by the Shareholders of the Resolutions at the SGM.
