Tuesday, June 17, 2014

Mongolia Energy : Expiry of the 3% Ctf Convertible Note and Grant of Moratorium on Repayment

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.
MONGOLIA ENERGY CORPORATION LIMITED

(Incorporated in Bermuda with limited liability) (Stock Code: 276) ANNOUNCEMENT EXPIRY OF THE 3% CTF CONVERTIBLE NOTE AND GRANT OF MORATORIUM ON REPAYMENT

The 3% CTF Convertible Note in the principal amount of HK$2,000,000,000 was expired on 16 June 2014. The holder of the 3% CTF Convertible Note has agreed to grant us a moratorium on repayment of the outstanding principal and interest under the expired note to 12 August 2014 for the purpose of negotiation and conclusion of a debt restructuring acceptable to all holders of other expired convertible notes.

This announcement is made by Mongolia Energy Corporation Limited (the ''Company'' and together with its subsidiaries, the ''Group'') pursuant to the provisions of inside information under Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong) and Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The Company refers to its announcements on 12 May 2011 and 14 May 2014 (the "Announcements"). Capitalized terms in this announcement have the same meaning as those defined in the Announcements, unless otherwise stated.

The 3% convertible note in the principal amount of HK$2,000,000,000 issued to Chow
Tai Fook Nominee Limited in 2011 (the "3% CTF Convertible Note") was expired on
16 June 2014. The holder of the 3% CTF Convertible Note has agreed to grant us a moratorium on repayment of the outstanding principal and interest under the expired note to 12 August 2014 subject to the validity of the similar moratorium granted by the holders of the SF Convertible Note and GI Convertible Note. We will exercise our best endeavour to reach a mutually acceptable debt restructuring plan with all holders of the expired convertible notes during the moratorium period. Shareholders and potential investors of the Company are urged to exercise caution when dealing in the shares of the Company.

-1-

By order of the Board Mongolia Energy Corporation Limited Tang Chi Kei

Company Secretary

Hong Kong, 16 June 2014

As at the date of this announcement, the Board comprises six Directors, of which Mr. Lo Lin Shing, Simon and Ms. Yvette Ong are executive Directors, Mr. To Hin Tsun, Gerald is a non-executive Director, and Mr. Peter Pun OBE, JP, Mr. Tsui Hing Chuen, William JP, and Mr. Lau Wai Piu are independent non-executive Directors.

-2-

No comments:

Post a Comment