Property Asset PLC - Prospective AIM Admission

RNS No 5890u PROPERTY ASSET HOLDINGS PLC  COMPANY NAME:        PROPERTY ASSET
HOLDINGS PLC (TO BE RENAMED NORTHACRE PLC)  COUNTRY OF INCORPORATION:  ENGLAND 
COMPANY BUSINESS:           RESIDENTIAL PROPERTY DEVELOPMENT  DETAILS OF
SECURITIES TO BE ADMITTED (ie, where known, number of shares, nominal value and
issue price):     
          15,613,601 ORDINARY SHARES OF 2.5P EACH (NOTE: EXISTING ORDINARY
          SHARES OF 0.1P EACH ARE BEING CONSOLIDATED ON A 25 FOR 1 BASIS)
CAPITAL TO BE RAISED ON ADMISSION:  NONE  FULL NAMES AND FUNCTIONS OF DIRECTORS,
INCLUDING SHADOW AND PROPOSED DIRECTORS: JOHN ROBERT GORDON HUNTER - EXECUTIVE
DIRECTOR KLAS BENGST NILSSON - EXECUTIVE DIRECTOR PETER MICHAEL IAN CATTO - NON
EXECUTIVE CHAIRMAN CHARLES OSBORNE HELVERT - NO EXECUTIVE DIRECTOR STEPHEN
CHARLES DUNCAN THOMAS SINCLAIR - NON EXECUTIVE DIRECTOR PERSON(S) INTERESTED IN
3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED
SHARE CAPITAL: NEW ORDINARY SHARES OF 2.5P EACH ON READMISSION JOHN HUNTER  -
5,000,000 (29.1% OF ENLARGED SHARE CAPITAL) KLAS NILSSON - 5,000,000 (29.1% OF
ENLARGED SHARE CAPITAL) EXISTING ORDINARY SHARES OF 0.1P EACH AS AT 30 APRIL
1999 STEPHEN SINCLAIR - 40,000,000 (28.5% OF EXISTING SHARE CAPITAL) CHASE
NOMINEES LIMITED - 9,000,000 (6.4% OF EXISTING SHARE CAPITAL) TIMOTHY JAMES -
8,872,726 (6.3% OF EXISTING SHARE CAPITAL) GOLDMAN SACHS SECURITIES (NOMINEES)
LTD - 8,100,000 (5.9 OF EXISTING SHARE CAPITAL) NUTRACO NOMINEES - 6,016,150
(4.3% OF EXISTING SHARE CAPITAL)  NAMES AND ADDRESSES OF ALL PERSONS TO BE
DISCLOSED IN ACCORDANCE  WITH RULE 16.8  NAME AND ADDRESS OF NOMINATED ADVISER: 
PEEL, HUNT & COMPANY LIMITED
                                        62 THREADNEEDLE STREET
                                        LONDON EC2R 8HP           NAME AND
ADDRESS OF NOMINATED BROKER:   PEEL, HUNT & COMPANY LIMITED
                                        62 THREADNEEDLE STREET
                                        LONDON EC2R 8HP  LOCATION OF ADDRESS AT
WHICH ADMISSION DOCUMENT IS AVAILABLE AT TIME OF ADMISSION CONTAINING FULL
DETAILS OF THE COMPANY AND OF ITS SECURITIES: FLADGATE FIELDER 25 NORTH ROW
LONDON  W1R 1DJ DATE OF NOTIFICATION:      30 APRIL 1999  NEW/UPDATE:           
    NEW  END PAASSEFFLUUUFSI

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