Future Bright Mining Holdings Limited — Capital/Financing Update 2016

Jul 15, 2016

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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Future Bright Mining Holdings Limited 高鵬礦業控股有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 2212)

CHANGE IN USE OF PROCEEDS

Reference is made to the prospectus of Future Bright Mining Holdings Limited (the “ Company ” and together with its subsidiaries, the “ Group ”) dated 29 December 2014 (the “ Prospectus ”) in relation to the listing (the “ Listing ”) of the Company’s shares on the Main Board of The Stock Exchange of Hong Kong Limited. Reference is also made to the annual report of the Group for the year ended 31 December 2014, the interim report of the Group for the six months ended 30 June 2015 and the annual report of the Group for the year ended 31 December 2015. Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as defined in the Prospectus.

The net proceeds from the Global Offering, after deducting the underwriting fees and commissions and other fees and expenses in relation to the Global Offering, was approximately HK$56 million (equivalent to approximately RMB45 million). As disclosed in the Prospectus, the net proceeds were originally intended to be used by the Company in the following manner:

• (a) approximately 81.3% of the net proceeds from the Global Offering (approximately HK$45.6 million, equivalent to approximately RMB36.5 million) to fund the capital cost for development of the Yiduoyan Project;

• (b) approximately 9% of the net proceeds from the Global Offering (approximately HK$5.0 million, equivalent to approximately RMB4.1 million) to fund the development of the Group’s sales channels and marketing in line with its strategy to develop its product recognition; and

• (c) approximately 9.7% of the net proceeds from the Global Offering (approximately HK$5.4 million, equivalent to approximately RMB4.4 million) for working capital and other general corporate purposes including expenses for the Group’s day-today operation.

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As of the date of this announcement, the Group had used approximately HK$11.8 million (equivalent to approximately RMB9.4 million) for the capital expenditure of the Yiduoyan Project, approximately HK$0.2 million (equivalent to approximately RMB0.2 million) for the development of sales channels and marketing, approximately HK$5.4 million (equivalent to approximately RMB4.4 million) for working capital and other general corporate purposes. As such, the unutilized net proceeds from the Global Offering amount to approximately HK$38.6 million (equivalent to approximately RMB31 million).

In view of (i) the changes in market environment as well as its trend and the economy in the PRC; and (ii) the current needs of the Group, the Board has resolved to change the use of net proceeds in the revised manner as set out below:

Capital expenditure of the Yiduoyan Project Development of sales channels and marketing Working capital and other general corporate purposes including expenses for our day-to-day operation Total	Original allocation of net proceeds RMB % of HK$ Equivalent net ’million ’million proceeds 45.6 36.5 81.3% 5.0 4.1 9% 5.4 4.4 9.7% 56 45 100%	Utilisation as at the date of this announcement RMB HK$ Equivalent ’million ’million 11.8 9.4 0.2 0.2 5.4 4.4 17.4 14	Remaining balance of net proceeds as at the date of this announcement RMB HK$ Equivalent ’million ’million 33.8 27.1 4.8 3.9 – – 38.6 31	Revised allocation of the remaining net proceeds % of RMB remaining HK$ Equivalent net ’million million proceeds 21.3 17.1 55.2% 4.8 3.9 12.4% 12.5 10 32.4% 38.6 31 100%	Revised allocation of the remaining net proceeds % of RMB remaining HK$ Equivalent net ’million million proceeds 21.3 17.1 55.2% 4.8 3.9 12.4% 12.5 10 32.4% 38.6 31 100%
					100%

Save for the aforesaid changes, there are no other changes in the use of the net proceeds from the Global Offering.

REASONS FOR CHANGE IN USE OF PROCEEDS

The Board constantly evaluates the prospect of the marble industry and condition of the PRC’s economic condition to determine the most efficient and effective method to deploy the Group’s resources. In view of the slowdown in economic growth in the PRC, the Company has been slowing down the pace of development of the Yiduoyan Project and thus freeing up proceeds originally intended to be used in its development. With a view to put the Company’s idle proceeds from the Global Offering to better use, the Board has resolved to re-allocate part of the idle proceeds to working capital and other general corporate purposes including expenses for our day-to-day operation. The Board will keep monitoring the overall development of the Yiduoyan Project so that it will not be materially affected as a result of the change in use of proceeds.

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In view of the reasons set out above, the Board has resolved to re-allocate approximately HK$12.5 million, equivalent to approximately RMB10 million out of the unutilized net proceeds originally intended for the development of the Yiduoyan Project to working capital and other general corporate purposes including expenses for our dayto-day operation.

The Board is of the view that there are no material changes in the nature of business objectives as set out in the Prospectus and that the aforesaid change in the use of the net proceeds from the Global Offering is in the interest of the Company and its shareholders as a whole.

• Note: For exchange rate conversions throughout this announcement, unless otherwise specified, translations of HK$ into RMB and RMB into HK$ in this announcement are based on the approximate rate of HK$1.00:RMB0.80 (for the purpose of illustration only).

By Order of the Board Future Bright Mining Holdings Limited Sun Feng Chairman

Hong Kong, 15 July 2016

As at the date of this announcement, the executive Directors of the Company are Mr. Sun Feng, Ms. Lee Suk Fong, Mr. Wan Tat Wai David, Mr. Zhang Decong and Mr. Yuan Shan (alternate director to Mr. Zhang Decong); the non-executive Directors are Mr. Li Ethan Jing, Mr. Hu Jin Xiong and Mr. Leung Kar Fai; and the independent non-executive Directors are Mr. Chow Hiu Tung, Mr. Lau Tai Chim, Mr. Sin Ka King and Mr. Tsang Hing Hung.

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