All Asia Asset Capital Limited Statement re press comment on APU Company Ltd (4430J)

TIDMAAA

RNS Number : 4430J

All Asia Asset Capital Limited

07 April 2015

Press Release 7 April 2015

All Asia Asset Capital Limited

("All Asia Asset Capital", "AAA" or the "Company")

Statement re press comment on Andaman Power and Utility Company Limited

All Asia Asset Capital Limited (AIM: AAA), an investment company focused on investing in the growing markets of the Asia Pacific region, notes the recent press comment in Thailand regarding Andaman Power and Utility Company Limited ("APU"), a privately owned company based in Myanmar and Thailand which operates in the development of utility plants and the provision of electricity. As at the date of this announcement, AAA owns 7.0 per cent. of the issued share capital of APU and has invested a total of US$1.80 million in cash consideration in APU.

The Board of AAA was also recently made aware of an announcement released by CyberPlanet Interactive Public Company Limited ("CyberPlanet"), a company listed on the Stock Exchange of Thailand, that it has convened a shareholder meeting on 30 April 2015 to, inter alia, seek its shareholders' approval for the acquisition of 100 per cent. of the issued capital of APU with the consideration proposed to its shareholders being a total of 340 million Baht in cash (equivalent to approximately US$10.62 million* or GBP7.11 million*).

In addition to requiring the approval of shareholders of CyberPlanet, the announcement also stated that the proposed acquisition of APU will be subject to, inter alia, share and purchase agreements being entered into between CyberPlanet and the shareholders of APU (including AAA).

Further announcements will be made by AAA as appropriate.

*Based on prevailing exchange rates of Thai Baht 1: GBP0.021 and Thai Baht 1: US$0.031 on 6 April 2015.

-Ends-

For further information:

 
 All Asia Asset Capital Limited 
 Robert Berkeley, Executive Chairman and 
  Finance Director 
 Dr. Sri Hartati Kurniawan, Chief Executive 
  Officer 
 Tel: +44 (0) 207 621 8910 
 Tel: +852 3756 0124 
 www.aaacap.com 
 
   Allenby Capital Limited (Nomad & Broker) 
 Nick Naylor / Nick Athanas / Alex Brearley 
 Tel: +44 (0) 203 328 5656 
 www.allenbycapital.com

About AAA

AAA is an investment company that has been established as a platform for investors looking to access growing markets in the Asia-Pacific region. The Company invests in a portfolio of companies with at least a majority of operations (or early-stage companies that intend to have at least a majority of their operations) in the Asia-Pacific region in industries with high growth potential including, but not limited to: agriculture, forestry and plantations, mining, natural resources, property, and/or technology. AAA is publicly quoted and its shares are traded on the AIM Market, which is operated by the London Stock Exchange.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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