Feishang Anthracite Resources Limited (FSHRF) 6-K Current report (foreign)

Exhibit 99.1

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.

 

FeishangAnthraciteResourcesLimited

飛尚無煙煤資源有限公司

(IncorporatedintheBritishVirginIslandswithlimitedliability)

(Stockcode:1738)

ANNOUNCEMENT

MADEPURSUANTTORULE13.09OF

THERULESGOVERNINGTHELISTINGOFSECURITIES

ONTHESTOCKEXCHANGEOFHONGKONGLIMITEDAND

THEINSIDEINFORMATIONPROVISIONS

Thisannouncementismadebytheboard(the“Board”)ofdirectors(the“Directors”)ofFeishang AnthraciteResourcesLimited(the“Company”andtogetherwithitssubsidiaries,the“Group”) pursuanttoRule13.09oftheRulesGoverningtheListingofSecuritiesonTheStockExchange ofHongKongLimited(the“ListingRules”)andtheInsideInformationProvisions(asdefined undertheListingRules)underPartXIVAoftheSecuritiesandFuturesOrdinance(Cap.571)(the “SFO”).

Recently,theGroupfiledanapplicationforthetransferofminingrightsofYongshengCoalMine fromGuizhouYongfuMiningCo.,Limited(貴州永福礦業有限公司)(“GuizhouYongfu”)(a70%ownedsubsidiaryoftheCompany)toGuizhouPuxinEnergyCo.,Ltd.(貴州浦鑫能源有限公司)(“GuizhouPuxin”)(awholly-ownedsubsidiaryoftheCompany).On27October2014,theGroup receivedareturnnoticedated23October2014(the“ReturnNotice”)fromDepartmentofLand andResourcesofGuizhouProvinceinrelationtotheapplication.AssetoutintheReturnNotice, theapplicationwasreturnedbecause,amongotherthings,theminingrightspermitofYongsheng CoalMine(whichiswholly-ownedbyGuizhouYongfu)wasfrozenpursuanttoanotice(the “Notice”)issuedbytherelevantgovernmentalauthority.Asatthedateofthisannouncement,the NoticehasnotbeenservedontheGroupandtheCompanyhasonlycometoknowledgeofthe NoticeuponreceiptoftheReturnNotice.

UponinvestigationbytheGroup,tothebestoftheDirectors’knowledge,informationandbelief, havingmadeallreasonableenquiries,theNoticearosefromanactionbroughtbyaPeople’sRepublicofChina(“PRC”)establishedenterpriseagainstMr.LIQingand湖北永福投資有限公司(HubeiYongfuInvestmentCo.,Ltd.)(“HubeiInvestment”)(ofwhichMr.LIQingisthelegalrepresentativeand ashareholder)inrelationtothedebt owedbyHubeiInvestment.TheGrouphas norelationshipwithHubeiInvestment.

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Inaddition,inOctober2014,GuizhouYongfuandYongshengCoalMine,namedasco-defendants, receivedsummons(the“Summons”)fromGuiyangCityIntermediatePeople’sCourt(貴陽市中級人民法院)inrelationtoanactionbroughtbyanindividualagainstHubeiInvestmenttoclaim foranoutstandingprincipalamountofCNY6milliontogetherwithinterestinthesumofCNY 900,000accruedfrom1March2014to28August2014(the“Debt”).

Despitethefactthaton12January2012,Mr.LIQingceasedtohold30%equityinterestin GuizhouYongfu,Mr. LIQingremainsthe legal representativeofGuizhouYongfu.

TheCompanyhassoughtlegaladvicefromthePRClegaladvisersinrelationtotheNoticeand theSummons.ThePRClegaladvisersadvisedthattheclaimantineachcasehasnolegalground toclaimagainstGuizhouYongfuandYongshengCoalMineas(i)inrespectoftheNotice,neither GuizhouYongfunorYongshengCoalMineisapartytotheactionbroughtbythePRCestablished enterprise,and(ii)inrespectoftheSummons,neitherGuizhouYongfunorYongshengCoalMine istheborrowerortheguarantoroftheDebt.TheCompanyisoftheviewthattheclaimantineach casehasnorighttorequestGuizhouYongfuand/orYongshengCoalMinetopaythedebtsowedby HubeiInvestmentorenforceorfreezeanyassetsofGuizhouYongfuandYongshengCoalMine.

As aresultoftheNotice,theproposedtransferoftheminingrightsofYongshengCoalMine fromGuizhouYongfutoGuizhouPuxinpursuanttotheGroup’sinternalreorganizationcannotbe carriedoutuntiltheNoticeislifted.Saveasaforesaid,theCompanyisoftheviewthattheNotice andtheSummonswillnothave amaterialadverseimpactonthebusiness,operationandfinancial positionoftheGroup.TheoperationsofGuzhouYongfuandYongshengCoalMinearecarriedout asusualandunaffectedbytheNotice.

TheCompanywillseekfurtherlegaladviceinrelationtotheNoticeandtheSummonsandthe necessaryactionstobetakeninthisrespectandwillvigorouslydefendagainsttherespectiveclaimantsinrelationtotheNoticeandtheSummons.Furtherannouncement(s)willbemadeby theCompanytoupdatetheshareholdersandpotentialinvestorsoftheCompanyofanymaterial developmentsoftheNoticeandtheSummonsifandwhenappropriateorwouldbediscloseable undertheobligationimposedbytheListingRulesandtheSFO.

ShareholdersandpotentialinvestorsoftheCompanyareadvisedtoexercisecautionwhen dealinginthesharesoftheCompany.

ByorderoftheBoard

FEISHANGANTHRACITERESOURCESLIMITED

LIFeilie

Chairman

HongKong,31October2014

Asatthedateofthisannouncement,theexecutivedirectorsoftheCompanyareMr.LIFeilie (ChairmanandChiefExecutiveOfficer),Mr.HANWeibing(ChiefOperatingOfficer),Mr.WAN Huojin(ChiefTechnicalOfficer),Mr.TAMCheukHoandMr. WONGWahOnEdward;andthe independentnon-executivedirectorsoftheCompanyareMr.LOKinCheung,Mr.HUANGZuye andMr.HUANGSongzhong.

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