Disposal of Holding in Asia Wind

    RNS Number : 1942G
  London Asia Chinese Private Equity
  20 October 2008
   

    For immediate release: 20 October 2008

    London Asia Chinese Private Equity Fund Limited
    ('LACPEF' or 'the Company')

    Disposal of Holding in Asia Wind
    LACPEF (AIM: LCP), the China focused investment company, announces that it has sold its entire 11.11% holding in Asia Wind Group Limited
('Asia Wind') for a cash consideration of �2.0 million. The Company originally acquired the holding in November 2006 for �3.0 million.

    Simon Littlewood, Director of LACPEF, said: "We have spoken recently with the majority of our shareholders and share their concerns
about the large discount to published net assets per share at which the Company's shares are trading. We believe that accelerating the
realisation of certain of the Company's investments should help reduce the discount.  Because of its heavy reliance on debt for financing
its projects, Asia Wind's business model has been severely affected by the credit crisis, which has forced it to postpone its plans until
there is more stability in financial markets. With no expectation of being able to profit from our investment in Asia Wind in the short term
until financial markets stabilise, and in the light of the discount at which the Company's shares currently trade, the Board has decided to
dispose of the holding now at a loss, rather than wait for Asia Wind to be able to exploit its business model over the long-term, thereby
freeing up some cash for other purposes."

    For further information, please visit www.lacpefund.com, or contact:

 Andrew Dunn / John West  Simon Littlewood        Hugh Field 
 Tavistock                London Asia Chinese     Collins
 Communications           Private Equity Fund     Stewart
 Tel: 020 7920 3150       Tel: +852 2251 8373     Europe
                                                  Tel: 020
                                                  7523 8000


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
DISURRKRWSRRURA

London Asia Chinese Private Eq.F (LSE:LCP)
過去株価チャート
から 5 2024 まで 6 2024