All Asia Asset Capital Limited Update on investments, strategy and outlook (1238O)
November 02 2016 - 4:01AM
UK Regulatory
TIDMAAA
RNS Number : 1238O
All Asia Asset Capital Limited
02 November 2016
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
2 November 2016
All Asia Asset Capital Limited
("All Asia Asset Capital", "AAA" or the "Company")
Update on investments, strategy and outlook
All Asia Asset Capital Limited (AIM: AAA), an investment company
focused on investing in the growing markets of the Asia Pacific
region, announces an update in respect of the Company's
investments, its outlook and its strategy.
In respect of the Company's investments in Andaman Power and
Utility Company Limited ("APU") and Myanmar Allure Group Co., Ltd.
("MAG"), the Board is not aware of any significant developments to
report to shareholders since the update provided within the
Company's interim results for the six months ended 30 June 2016
(announced on 16 September 2016). As indicated in the interim
results, the Company is actively seeking opportunities to realise
its investment in APU but no discussions are at an advanced stage.
The Board now believes that equivalent steps should be taken to
seek to realise the Company's investment in MAG.
Following the appointment of Mr. Paniti Junhasavasdikul as Chief
Executive Officer in September 2016, the Company continues to
evaluate new investment opportunities, although the Company
currently has very limited available cash resources and is not
currently in a position to make new investments. The Board's more
recent focus has thus been on controlling costs and evaluating
options for raising funds for the Company to meet its ongoing
operating expenses. The Board intends to engage with potential
investors with a view to securing new funding in the shorter-term.
However, there can be no certainty regarding the timing of the
conclusion of any discussions, and/or whether any new funding on
acceptable terms will ultimately be secured.
A number of investment opportunities that the Board has recently
reviewed have fallen outside of the scope of the Company's
investing policy and, consequently, the Board is considering a
proposal to change the Company's investing policy. Any change in
investing policy will be subject to the approval of
shareholders.
Further announcements will be made as appropriate.
-Ends-
For further information:
All Asia Asset Capital Limited
Paniti Junhasavasdikul, Chief Executive
Officer
Robert Berkeley, Executive Chairman and
Finance Director
Tel: +44 (0) 207 621 8910
Tel: +852 3756 0124
www.aaacap.com
Allenby Capital Limited (Nomad & Broker)
Nick Athanas / Nick Naylor / Alex Brearley
Tel: +44 (0) 203 328 5656
www.allenbycapital.com
About AAA
AAA is an investment company that has been established as a
platform for investors looking to access growing markets in the
Asia-Pacific region. The Company invests in a portfolio of
companies with at least a majority of operations (or early-stage
companies that intend to have at least a majority of their
operations) in the Asia-Pacific region in industries with high
growth potential including, but not limited to: agriculture,
forestry and plantations, mining, natural resources, property,
and/or technology. AAA is publicly quoted and its shares are traded
on the AIM Market, which is operated by the London Stock
Exchange.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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