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.
(STOCK CODE: 1174)
This announcement is made by Pacific Andes International Holdings Limited (the "Company") pursuant to Rules 13.09(2) and 13.19 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance, Chapter 571 of the Laws of Hong Kong.
Pacific Andes Resources Development Limited ("PARD"), an indirect non-wholly owned subsidiary of the Company whose shares are listed on the Singapore Exchange Securities Trading Limited, received a letter dated 7 January 2016 (the "Letter") from The Hongkong and Shanghai Banking Corporation Limited, as trustee of the S$200,000,000 (approximately HK$1,080,000,000) 8.5% bonds due 2017 issued by PARD (the "Bonds"), alleging that PARD is in breach of certain of its obligations under the terms and conditions of the Bonds.
The board of directors of PARD is currently seeking legal advice in relation to the Letter and, in addition, is in an active dialogue with a substantial holder of the Bonds with a view to establishing a transparent process for discussions and communications with all holders of the Bonds.
GeneralAt the Company's request, trading in the shares of the Company was halted from 9:00 a.m. on
26 November 2015, and will remain suspended until further notice. Shareholders and potential investors of the Company should exercise caution when dealing in the shares of the Company. The Company will keep the public informed of the latest development by making further announcement(s) as and when appropriate.
By Order of the Board
Pacific Andes International Holdings Limited Ng Puay Yee (Jessie)Managing Director
Hong Kong, 10 January 2016
As at the date of this announcement, the executive directors of the Company are Ms. Ng Puay Yee (Jessie), Mr. Ng Joo Kwee and Mr. Ng Joo Puay, Frank; the non-executive director of the Company is Madam Teh Hong Eng whilst the independent non-executive directors of the Company are Mr. Lew V Robert, Mr. Tao Kwok Lau, Clement and Mr. Nguyen Van Tu, Peter.
Pacific Andes International Holdings Ltd. issued this content on 2016-01-10 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 2016-01-10 11:07:02 UTC
Original Document: http://www.pacificandes.com/attachment/2016011018470200002408184_en.pdf
