RNS Number:3128V
London Asia Capital PLC
12 February 2004

Embargoed until 7.00 a.m.

12 February 2004

            LONDON ASIA CAPITAL PLC ("London Asia" or "the Company")
                          Placing Raises #1.28 million

The Company is pleased to announce that Durlacher Limited, as agent for the
Company, is proposing to place 7,997,800 new ordinary shares of 5p each ("the
Placing") with institutional investors at a price of 16p per share, subject to
admission to trading on AIM.  The placing is expected to raise approximately
#1.28 million gross of expenses and approximately #1.21 million net of expenses.
  Application will be made to admit the new ordinary shares to be issued
pursuant to the Placing to trading on AIM and admission is expected on 16th
February 2004.  The total number of issued ordinary shares in the Company
admitted to AIM following the placing will be 68.3 million.

The Company has a number of projects under negotiation which it hopes to close
in the near future.  The proceeds from the Placing will be used to fund these
and future projects to continue to expand the Company's investment portfolio.

Simon Littlewood, Chief Executive of London Asia, said: "This placing replaces
the funds used in December 2003 for the exercise of the Beijing Success option,
and provides us with a pool of funds for the closing of transactions we have
been working on for several months and hope to close in the first quarter of
2004."



ENQUIRIES:
Paul Quade, City Road Communications                    Tel 020 7334 0243
7th Floor, Roman House
Wood Street
London EC2Y 5BA



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

IOEBIGDDRBBGGSB
London Asia Capital (LSE:LDC)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more London Asia Capital Charts.
London Asia Capital (LSE:LDC)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more London Asia Capital Charts.