Aseana Properties Limited Asset Sale update (8658Y)
January 08 2024 - 1:00AM
UK Regulatory
TIDMASPL
RNS Number : 8658Y
Aseana Properties Limited
08 January 2024
8 January 2024
Aseana Properties Limited
("ASEANA" or the "Company")
Asset Sale update
Aseana Properties Limited (LSE: ASPL), a property developer in
Malaysia listed on the Main Market of the London Stock Exchange,
announces that further to the announcement made by the Company on 8
December 2023, sale negotiations for the Sandakan hotel asset and
the adjacent Harbour Mall Sandakan (the "Sandakan Assets") are
ongoing. Following the Event of Default, the holders of the Medium
Term Notes (the "Notes") that were used to finance the Sandakan
Assets have been repaid by the banks who guaranteed the Notes (the
"Bank Guarantors"). The prospective buyer of the Sandakan Assets is
expecting to put a bank guarantee in place in the next few days in
favour of the Bank Guarantors that would cover the amount of the
outstanding loan. The Company continues to liaise with the Bank
Guarantors.
For further information:
Aseana Properties Limited
Nick Paris, Non-Executive Chairman nickparis@btinternet.com
+44 (0)7738 470550
Grant Thornton UK LLP
Philip Secrett +44 (0)207 383 5100
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END
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