Aseana Properties Limited

("Aseana" or the "Company")

Invalid Requisition for a General Meeting

5 August 2022

Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia which is listed on the Main Market of the London Stock Exchange, announces that it has received an invalid requisition notice (the "Requisition Notice") from Legacy Essence Limited requiring that the  Directors should convene a general meeting of Shareholders for the purpose of considering and, if thought fit, approving a resolution to remove Helen Wong as a Director (the "Resolution").

Following guidance from its legal advisors in Jersey, the directors of Aseana who are independent with regards to the resolution raised in the Requisition Notice (the "Independent Directors") have determined that, as the Requisition Notice was not received from a registered member, it is invalid pursuant to article 89 of the Companies (Jersey) Law 1991 and as such Aseana's Independent Directors have rejected the Requisition Notice.

Monica Lai who is a Director of the Company is a beneficiary of Legacy Essence Limited. 

The Independent Directors  state that Helen Wong continues to have their full support in managing the operations of the Company and selling its assets. In the event that a valid requisition is received, based on the information that the Independent Directors have, they will recommend that Shareholders vote against the Resolution at a general meeting.

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