RNS Number : 7369J

Aseana Properties Limited

25 August 2021

25 August 2021

Aseana Properties Limited

("Aseana" or the "Company")

Sales of our assets in Vietnam

Aseana Properties Limited (LSE: ASPL), a property developer in Malaysia and Vietnam which is listed on the Main Market of the London Stock Exchange, announces tha t following a competitive bidding process it has signed a binding agreement to sell its interests in both the City International Hospital and the adjacent International Healthcare Park in Ho Chi Minh City, Vietnam to its joint venture partner, the Hoa Lam Corporation . Following these sales the Company will have no assets in Vietnam and will concentrate on realising its remaining four assets in Malaysia.

The gross sales price of the transaction is approximately USD $95 million and under the terms of the agreement, the buyer will settle all bank debts owed on these two assets. Completion of the transaction is expected to take place over the next few months subject to approvals from regulatory authorities as required. A further announcement will be made upon completion and the receipt of net proceeds by the Company.

The Directors of the Company express their thanks to the Hoa Lam Corporation for a long and co-operative joint venture partnership. Nicholas Paris, Chairman of Aseana commented that "we have been very pleased to be part of the team that built such an excellent hospital facility in the City of Ho Chi Minh and that we thank our joint venture partner and our hospital staff for making that possible".

For further information:

 Aseana Properties Limited        Tel: 020 3325 7050 
 Nick Paris (Chairman)            nickparis@btinternet.com 
 Liberum Capital                  Tel: 020 3100 2000 
 Darren Vickers / Owen Matthews 

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(END) Dow Jones Newswires

August 25, 2021 04:25 ET (08:25 GMT)

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