Sale land in Kota Kinabalu, Sabah, Malaysia

17 July, 2020

Aseana Properties Limited

("Aseana" or the "Company")

Sale of two land plots in Kota Kinabalu, Sabah, Malaysia

Aseana Properties Limited (LSE: ASPL LN), a property developer in both Malaysia and Vietnam which is listed on the Main Market of the London Stock Exchange, announces that it has entered into two Sale and Purchase Agreements to sell its remaining two plots of land in Kota Kinabalu to a party related to Ireka Development Management, the former Development Manager of the Company, for a total cash consideration of approximately US$4 million, which represents a 10% discount to their unaudited Net Asset Value as at 31 December 2019. The Company will receive a 20% cash deposit and the balance of the proceeds are expected to be received when the sales complete in three months time.

This sale is not dependent on the completion of the demerger transaction that was announced by the Company on 15 July 2020.  

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