All Active Asset Capital Limited Sale of investment (1302P)
15 February 2021 - 10:51PM
UK Regulatory
TIDMAAA
RNS Number : 1302P
All Active Asset Capital Limited
15 February 2021
15 February 2021
All Active Asset Capital Limited
('AAA' or 'the Company')
Sale of investment
AAA has agreed terms to sell the Company's 7% interest
('Interest') in Allure Group Co., Ltd. ('Allure') to Oxbow
Enterprise Limited, an existing shareholder of AAA, for a cash
consideration of GBP100,000 ('the Sale').
Allure is the holding company for Myanmar Allure Group Co., Ltd
('MAG'), which owns and operates the Allure Resort, a hotel in
Myanmar. The book value of the Interest in AAA's latest unaudited
financial statements was GBP150,000, reflecting the Directors'
assessment of MAG's future prospects. It is anticipated that
completion of the Sale will occur before the end of February 2021.
The net proceeds from the Sale will be used for the general working
capital purposes of the Company.
The Company's Interest in Allure is a legacy investment, held
since 2013. The Sale will allow AAA to focus on its core
investments, including a convertible loan in MESH Holdings plc and
an option, exercisable under certain conditions, to acquire up to
EUR125 million of equity in AAQUA B.V.
For further information:
All Active Asset Capital Limited
James Normand, Non-Executive Chairman
Rodger Sargent, Executive Director
www.aaacap.com
Allenby Capital Limited (Nominated Adviser and Broker)
Alex Brearley / Nick Athanas
T: +44 (0) 203 328 5656
www.allenbycapital.com
Buchanan (Financial PR)
Richard Oldworth / Chris Lane / Toto Berger
T: +44 (0) 207 466 5000
E: AAAC@buchanan.uk.com
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END
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