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Almana Limited — Capital/Financing Update 2014
Mar 17, 2014
51315_rns_2014-03-17_baa3c5da-40fb-4b9b-a886-48b216e67eca.pdf
Capital/Financing Update
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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
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China asean ResouRCes Limited 神州東盟資源有限公司
(Incorporated in Bermuda with limited liability)
(stock Code: 8186)
uPdate on the seCuRed Loan aRRanGement
Reference is made to the announcement of the Company dated 11 March 2014 in relation to the letter received from the Lender in connection with his declaration of the Loans (the “ announcement ”). Unless the context requires otherwise, capitalised terms used herein shall bear the same meanings as defined in the Announcement.
Keen Wood has further received a letter dated 14 March 2014 from the law firm acting for the Lender, which has stated that the Lender had declared all of the security created under the Share Charges enforceable forthwith. The Company would like to inform its shareholders that in the event that the Lender had enforced and executed his rights under Share Charges, the Group might lose its control/interests over its subsidiaries holding the economic land concessions for three forests in Cambodia and result in a possible very substantial disposal of the Company under the GEM Listing Rules.
The Company is seeking legal advice in respect of the letters received on 10 and 14 March 2014, respectively, and is also in the course of considering possible alternatives in case that the Lender had exercised his right under the Share Charges. The Company will make further announcement(s) to keep its shareholders and investors posted for any material development in this regard as and when appropriate in compliance with the GEM Listing Rules.
As a result of the letters, there may be an impact on the expected timetable for the publication of financial results of the Group as announced on 3 March 2014.
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Trading in the Shares on the Stock Exchange remains suspended until further notice. Shareholders and public investors are advised to exercise cautions in dealing in the securities of the Company.
By order of the Board China asean Resources Limited Leung sze Yuan, alan
Executive Director
Hong Kong, 17 March 2014
As at the date of this announcement, the Board comprises five executive Directors, namely Mr. Chultemsuren Gankhuyag, Mr. Gong Ting, Mr. Leung Sze Yuan, Alan, Ms. Yu Xiao Min and Mr. Zeng Lingchen; and three independent non-executive Directors, namely Mr. Hung Bingxian, Ms. Wen Huiying and Mr. Zhang Ying.
This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.
This announcement will remain on the GEM website at http://www.hkgem.com on the “Latest Company Announcements” page for seven days from the date of its publication and on the website of the Company at http://www.chinaaseanresources.com.
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