Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

G-Resources Group Limited Capital/Financing Update 2013

Oct 27, 2013

49648_rns_2013-10-27_b770a568-7fb6-43e8-a282-cef35652cac8.pdf

Capital/Financing Update

Open in viewer

Opens in your device viewer

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.

==> picture [189 x 46] intentionally omitted <==

G-Resources Group Limited 國際資源集團有限公司 *****

(Incorporated in Bermuda with limited liability) (Stock Code: 1051)

ANNOUNCEMENT

REPAYMENT AND TERMINATION OF REVOLVING CREDIT FACILITY

The board of directors (the "Board") of G-Resources Group Limited (HKSE: 1051 – “G-Resources” or the “Company”) is pleased to announce that on 25 October 2013, its Indonesian subsidiary, PT Agincourt Resources, has voluntarily repaid its outstanding principal of US$37.5 million on its Revolving Credit Facility (“Facility”), more than 8 months before the expiry of the Facility. The Company has now terminated the Facility.

The Facility was established in December 2011 with a banking syndicate comprising BNP Paribas, Commonwealth Bank of Australia, Hang Seng Bank Limited and Sumitomo Mitsui Banking Corporation (“the Lenders”) for the purposes of supporting the construction of the Martabe Gold Mine.

Following the repayment of the above loan principal and accrued interest to the Lenders, the Company’s cash balance is approximately US$190 million.

The Company recognizes and appreciates the support provided by the Lenders and the positive impact they have had on the completion and start up of the Martabe Gold Mine.

By Order of the Board G-Resources Group Limited Peter Geoffrey Albert Chief Executive Officer

Hong Kong, 28 October 2013

As at the date of this announcement, the Board comprises:

  • (i) Mr. Chiu Tao, Mr. Owen L Hegarty, Mr. Peter Geoffrey Albert, Mr. Ma Xiao, Mr. Wah Wang Kei, Jackie and Mr. Hui Richard Rui as executive directors of the Company; and

  • (ii) Mr. Or Ching Fai, Ms. Ma Yin Fan and Mr. Leung Hoi Ying as independent non-executive directors of the Company.

1/2

For media or investor enquiries please contact:

Hong Kong:

Mr. Richard Hui T. +852 3610 6700 Ms. Joanna Ip T. +852 3610 6700

Melbourne, Australia: Mr. Owen Hegarty T. +61 3 8644 1330 Mrs. Murraya Nuzli T. +61 3 8644 1330

* For identification purpose only

2/2