Asian Growth Props (AIM:AGP) Disposal, Special Distribution & Delisting

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.

FULL RNS Announcement

 




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