Aseana Properties Limited Asset sale update (2315W)
08 Décembre 2023 - 4:45PM
UK Regulatory
TIDMASPL
RNS Number : 2315W
Aseana Properties Limited
08 December 2023
8 December 2023
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 an announcement on 1 November 2023,
progress is still being made on the sale of the Sandakan hotel
asset and the adjacent Harbour Mall Sandakan (the "Sandakan
Assets") and that an extension to the Sale and Purchase Agreement
has been agreed. The completion of the Sandakan Assets is subject
to the receipt of regulatory approval in Malaysia.
Payment of part of the purchase price is being arranged and the
repayment of the remaining Medium Term Notes (the "Notes") which
had been used to fund the construction of the Sandakan Assets and
which was due to be made today is the priority of the purchaser and
is expected to occur shortly. The banking syndicate that provided
these loans has however served notice today that non-payment of the
Notes has created an Event of Default and there is a thirty-day
cure period within the terms of the Notes. The Company is engaging
with the Trustee to the Notes to seek a sixty-day extension of the
repayment date from the Note holders.
Financing is still being arranged by the purchaser of the 32
unsold residences at The RuMa Hotel & Residences in Kuala
Lumpur to complete their purchase and this is now expected to be
secured by the end of January.
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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December 08, 2023 10:45 ET (15:45 GMT)
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