Feishang Anthracite Resources Limited (FSHRF) Inactive
Filed: 26 Jun 14, 12:00am
EXHIBIT 99.1
HongKongExchangesandClearingLimitedandTheStockExchangeofHongKongLimitedtakenoresponsibilityfor thecontentsofthisannouncement,makenorepresentationastoitsaccuracyorcompletenessandexpresslydisclaim anyliabilitywhatsoeverforanylosshowsoeverarisingfromorinrelianceuponthewholeoranypartofthecontents ofthisannouncement.
FeishangAnthraciteResourcesLimited
飛尚無煙煤資源有限公司
(IncorporatedintheBritishVirginIslandswithlimitedliability)
(Stockcode:1738)
ANNOUNCEMENT
MADEPURSUANTTORULE13.09OF
THERULESGOVERNINGTHELISTINGOFSECURITIES
ONTHESTOCKEXCHANGEOFHONGKONGLIMITEDAND
THEINSIDEINFORMATIONPROVISIONS
Thisannouncementismadebytheboard(the“Board”)ofdirectorsofFeishangAnthraciteResourcesLimited(the“Company”andtogetherwithitssubsidiaries,the“Group”)pursuantto Rule13.09oftheRulesGoverningtheListingofSecuritiesonTheStockExchangeofHongKong Limited(the“ListingRules”)andtheInsideInformationProvisions(asdefinedundertheListing Rules)underPartXIVAoftheSecuritiesandFuturesOrdinance(Cap.571).
ReferenceismadetothelistingdocumentoftheCompanydated31December2013(the“Listing Document”). Unless otherwise defined herein, capitalised terms used in this announcementshall have thesamemeaningsas thosedefined intheListingDocument.
AsdisclosedintheListingDocument,theGroupcurrentlypossessessevencoalminesinGuizhou province,thePRC,namelyBaipingCoalMine,LiujiabaCoalMine(alsocalledXinsongCoal), ZhulinzhaiCoalMine(alsocalledLinjiaaoCoal),GouchangCoalMine,YongshengCoalMine, DayuanCoalMineandDayunCoalMine,ofwhichLiujiabaCoalMineandZhulinzhaiCoalMine arelocatedinLiuzhiSpecialDistrict,ZhinaCoalDistrict,Guizhouprovince,thePRCandDayuan CoalMineislocatedinNayongcounty,ZhinaCoalDistrict,Guizhouprovince,thePRC.
SuspensionofproductionsinrelationtoLiujiabaCoalMineandZhulinzhaiCoalMine
TheBoardrecentlynotedthattwocoalmineaccidentshadoccurredinLiuzhiSpecialDistrict, Guizhouprovince,thePRCinMayandJune2014.NoneoftheGroup’scoalmineswasinvolvedin theseaccidents. However, theGroup recentlyreceived anotice issuedby六枝特區安全生產監督管理局(LiuzhiSpecialDistrictAdministrationBureauofWorkSafety*)toallcoalminingenterprisesinLiuzhiSpecialDistrictrequestingthat,amongotherthings,theproductionofall coalminesinLiuzhiSpecialDistrict(includingLiujiabaCoalMineandZhulinzhaiCoalMine) betemporarilysuspendedimmediatelytofacilitatetheinspectionandassessmenttobeconducted bytherelevantcoalmineregulatoryauthoritiessoastoensuretherelevantminingoperationsare incompliancewiththerequisitesafetystandardsandotherconditionsimposedbytherelevant coalmineregulatoryauthorities.Accordingly,inaccordancewithsuchnotice,theproductionsof LiujiabaCoalMineandZhulinzhaiCoalMinehavebeensuspended.
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BasedonthelatestinternalrecordoftheGroupupto31May2014,theproductionvolume (includingpilotrunproduction)andsalesvolumeofLiujiabaCoalMineandZhulinzhaiCoalMine togetheraccountedforapproximately29.4%and29.0%oftheGroup’stotalproductionvolume (includingpilotrunproduction)andsalesvolume,respectively.
SuspensionofproductioninrelationtoDayuanCoalMine
InviewoftherecentcoalmineaccidentsinGuizhouprovincementionedabove,theGuizhou coalmineregulatoryauthoritieshavestrengthenedtheirmonitoringrolebyconductingon-site inspectionandassessmentofthecoalminestoensuretheirminingoperationsareincompliance withtherequisitesafetystandardsandotherconditions.On25June2014,納雍縣安全生產監督管理局(NayongCountyAdministrationBureauofWorkSafety*)conductedanon-siteinspection andassessmentontheminingoperationsofDayuanCoalMineandissued anoticetotheGroup aftersuchon-siteinspectionandassessmentrequestingthat,amongotherthings,theproduction ofDayuanCoalMinebesuspendedimmediatelyfor aperiodofnotlessthan30daystocarryout rectificationorimprovementofcertainsafetydeficienciessoastoensureitsminingoperationsare incompliancewiththerequisitesafetystandardsandotherconditions.TheGroupshallformulateaproposalfortheimplementationofsuchrectificationorimprovementanduponcompletionof suchrectificationorimprovement,DayuanCoalMinemayresumeitsminingoperationsprovided thatsuchrectificationorimprovementpassestheverificationandacceptanceproceduresconductedby納雍縣安全生產監督管理局(Nayong County Administration Bureau of Work Safety*). Accordingly, in accordance with such notice, the production of Dayuan Coal Mine has been suspendedpendingsuchrectificationorimprovementasshallberequired.
BasedonthelatestinternalrecordoftheGroupupto31May2014,theproductionvolume(includingpilotrunproduction)andsalesvolumeofDayuanCoalMineaccountedforapproximately6.3%and6.4%oftheGroup’stotalproductionvolume(includingpilotrunproduction)andsalesvolume,respectively.
Accordingly,theproductionvolume(includingpilotrunproduction)andsalesvolumeofthethreetemporarilysuspendedcoalmines,namelyLiujiabaCoalMine,ZhulinzhaiCoalMineand DayuanCoalMine,inaggregateaccountedforapproximately35.7%and35.4%oftheGroup’stotalproductionvolume(includingpilotrunproduction)andsalesvolume,respectively.Currently,theDirectorshavenoinformationinrelationtothedateofresumptionoftheminingoperations ofLiujiabaCoalMine,ZhulinzhaiCoalMineandDayuanCoalMine.Theaforesaidtemporary suspensionofproductionsofLiujiabaCoalMine,ZhulinzhaiCoalMineandDayuanCoalMine maymateriallyandadverselyaffectourbusiness,financialconditionandresultsofoperations dependingonthedurationofsuchsuspensionofproductions.
Furtherannouncement(s)willbemadebytheCompanyifandwhentheGroupobtainstheapprovalsfortheresumptionoftheminingoperationsofLiujiabaCoalMine,ZhulinzhaiCoal MineandDayuanCoalMine.
TheBoardconfirmsthatthecontentsofthisannouncementdonotcontainanyfalsestatements, misleadingrepresentationsormaterialomissions,andalloftheDirectorsjointlyandseverally acceptresponsibilityastothetruthfulness,accuracyandcompletenessofthecontentsofthis announcement.
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Shareholdersandpotentialinvestorsareadvisedtoexercisecautionwhendealinginthe sharesoftheCompany.
| ByorderoftheBoard | |
| FEISHANGANTHRACITERESOURCESLIMITED | |
| LIFeilie | |
| Chairman |
HongKong,26June2014
Asatthedateofthisannouncement,theexecutivedirectorsoftheCompanyareLIFeilie,HANWeibing,WANHuojin,TAMCheukHoandWONGWahOnEdwardandtheindependent non-executivedirectorsoftheCompanyareLOKinCheung,HUANGZuyeandGUJianshe.
* Foridentificationpurposeonly
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