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PACIFIC RESOURCES LIMITED — Capital/Financing Update 2018
Aug 21, 2018
65638_rns_2018-08-21_5e07bf2d-7b9d-4b54-ad4c-573b9c6edf6a.pdf
Capital/Financing Update
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22 August 2018
ASX ANNOUNCEMENT
SALE OF SURAT GAS PTY LTD – FINAL STAGES
On 7 March 2018 AustChina Holdings Limited ( ASX: AUH ) announced that it had signed an Option Deed for the sale of AustChina’s 100 % owned subsidiary Surat Gas Pty Ltd (ASX announcement: “AustChina Signs Option Deed for the Sale of Surat Gas Pty Ltd”).
On 20 March 2018 AustChina announced that it had received notice that the purchaser has exercised its Option under the Option Deed (ASX Announcement: “Sale of Surat Gas Pty Ltd – Buyer Exercises Option”).
There have been several extensions to the Condition and Completion dates granted by the company with the latest ASX Announcement on 9 July 2018 placing the Condition Date to 21 August and Completion date by 28 August 2018.
The company wishes to advise that the Parties have extended the Conditions Date and are negotiating other terms of the transaction, which the Company hopes to finalise by 28 August 2018.
Shareholders are cautioned that completion of the transaction remains conditional on the purchaser obtaining finance to its satisfaction.
Yours faithfully,
Anthony Chan – Chairman
Further information:
Andrew Fogg – Chief Executive Officer
Bruce Patrick – Chief Operating Officer
AustChina Holdings Limited ABN 20 075 877 075 Level 16, 344 Queen Brisbane Queensland 4000 • GPO Box 762 Brisbane Queensland 4001 Australia T +61 7 3229 6606 • [email protected] • www.austchinaholdings.com