Business
Sale of Treasury Shares and Total Voting Rights
Sale of Treasury Shares and Total Voting Rights.
About this update from Aseana Properties Limited
[{"type":"text","content":"\n\nTHIS 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.\n \n17 March 2025 \n \nAseana Properties Limited\n(the \"Company\" the \"Group\" or \"Aseana\")\n \nSale of Treasury Shares\nand\nTotal Voting Rights\n \nAseana 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\").\n \nThe 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.\n \nThe 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.\nIt 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.\nTotal Voting Rights\n \nIn 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.\n \nTherefore, following completion of the sale of the T...