12 May 2023
Aseana Properties Limited
("Aseana" or the "Company")
Sale of remaining residences at The RuMa Hotel & Residences
Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia and Vietnam, listed on the Main Market of the London Stock Exchange, announces that it has with the same party (i) entered into a conditional agreement to sell 32 unsold residences and (ii) will shortly enter into conditional agreements to sell the remaining 25 unsold residences at The RuMa Hotel & Residences ("RuMa") in Kuala Lumpur.
The net proceeds for the total transaction is MYR 72 million (approximately US$16 million) and is subject to, inter alia, final due diligence by the buyer and receipt of government approval (land office) for the sale to a foreign investor. It is expected that the transaction will complete within six months whereupon Aseana will make a further announcement.
For further information:
| Aseana Properties Limited | |
| Nick Paris, Non-Executive Chairman
| +44(0)7738 470550 |
| | |
| Grant Thornton UK LLP | |
| Philip Secrett / George Grainger | +44(0)20 7383 5100 |
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