Notify the signing of Share SPA in Q-CON

BackFeb 24, 2010

ASIAN PROPERTY DEVELOPMENT PLC.
NEWS RELEASE

23 February 2010

Subject To notify the Signing of Share Sell-Purchase Agreement in Quality Construction Products Plc.

To Director and Manager The Stock Exchange of Thailand

We, Asian Property Development Plc. ("the Company"), would like to inform that according to the Memorandum of Understanding which the Company has entered into since 6 February 2010 to sell shares in Quality Construction Products Plc., ("Q-CON") with SCG Building Materials Co., Ltd., ("SCG Building Materials"), a 100% owned subsidiary of SCC, totaling 59,877,700 shares, at a price of Baht 4 per share, representing a total of Baht 239,510,800,

The Company has already signed the Sell-Purchase Agreement to sell shares in Q-CON to SCG Building Materials on 24 February 2010.

The Company will trade shares according to the aforementioned agreement on 24 February 2010. The transaction disclosed above represented 2.60% of the total tangible asset of the Company as at 30 September 2010 which was reviewed by the auditor. According to the regulations on asset transactions and connected transactions, the size of this transaction does not require disclosure to the public.

 

Please be informed accordingly.

 

Sincerely Yours,

 

(Mr. Pichet Vipavasuphakorn)
Managing Director

Attachments

  • 2010-02-24_AP_EN.pdf (Size: 40,612 bytes)