Aseana Properties Limited Director Changes and EGM Requisitions Received
September 17 2024 - 2:15AM
RNS Regulatory News
RNS Number : 4911E
Aseana Properties Limited
17 September 2024
17 September 2024
Aseana Properties
Limited
("ASEANA" or the
"Company")
Director changes and EGM
requisitions received
Aseana Properties Limited (LSE:
ASPL), a property developer in Malaysia, listed on the Main Market
of the London Stock Exchange, announces that Robert Minty has
resigned as a Director of the Company with immediate effect. Hock
Chye Tan and Nick Paris will also be resigning as Directors once
the Interim Accounts for the Company for the six months to 30 June
2024 are published at the end of September. The
Board is working through the selection of new Directors, including
the appointment of a new Director to Chair the Board of
Directors.
The Company has also received two
requisitions of Extraordinary General Meetings from the LIM Asia
Multi-Strategy Fund Inc. and the LIM Asia Special Situations Master
Fund Ltd. who collectively own more than 10% of the voting shares
of the Company. One requisition contains a resolution "THAT,
pursuant to Article 23.1(d) of the Articles, Nicholas John Paris be
removed from office as a director of the Company with immediate
effect". The other requisition contains a resolution "THAT in
accordance with the power granted to shareholders to give
directions to the Directors pursuant to Article 20.1 of the
Articles, no payments be made to Thomas Holland or Helen Wong Siu
Ming (or companies or persons associated with them) as compensation
for (1) loss of office as a Director, (2) as a consequence of loss
of office as a Director, or (3) in connection with any employment,
consultancy or other contractual arrangements between the Company
and such Director, or previous director or person (or companies or
persons associated with them) without prior disclosure to the
Company's shareholders of the results of an independent accounting
and legal investigation and review which confirms the legality or
probity of any such payments". The Directors are examining these
requisitions and advise shareholders to take no action pending a
further announcement.
For
further information:
Aseana Properties Limited
Nick Paris, Non-Executive
Chairman nickparis@btinternet.com
+44 (0)7738 470550
Grant Thornton UK LLP
Philip Secrett, Elliot
Peters
+44 (0)207 383 5100
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END
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