e_A150322 1..2



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.

ASIA ENERGY LOGISTICS GROUP LIMITED

亞 洲 能 源 物 流 集 團 有 限 公 司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 0351)

ANNOUNCEMENT

FURTHER TIME EXTENSION FOR THE ACQUISITION OF VESSELS

This announcement is made by the Company pursuant to Rule 13.09(2) of the Listing Rules and the Inside Information Provisions under Part XIVA of the SFO.
Reference is made to the Announcements. The Board wishes to announce that the acquisition of the two Panamax Vessels by the JV Group has been extended to 31 December
2015 and 31 December 2016, respectively.
This announcement is made by Asia Energy Logistics Group Limited (the ''Company'') pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the ''Listing Rules'') and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the ''SFO'').
Reference is made to the announcement of the Company dated 8 January 2010 in relation to a major and connected transaction and four announcements dated 4 July 2011, 4 January 2012,
27 March 2013, 28 June 2013 and 7 May 2014, respectively in relation to the time extension for the acquisition of the other two Vessels (collectively, the ''Announcements''). Unless the context requires otherwise, capitalised terms used in this announcement shall have the same meanings as they are defined in the Announcements.
As disclosed in the Announcements, the JV Group intends to acquire two Handysize Vessels and two Panamax Vessels at prevailing market price of approximately US$114 million in aggregate within a period of nine months from the date of the JV Agreement. As disclosed in the announcement of interim results of the Company for the six months ended 30 June 2010 published on 24 August 2010, the JV Group has acquired two Handysize Vessels for a consideration of RMB175,000,000 and RMB178,800,000 on 30 April 2010 and 10 August
2010, respectively and pursuant to a sixth memorandum of mutual understanding, the JV Company and the JV Shareholders agreed that the acquisition of the two Panamax Vessels has been extended to 31 December 2014 and 31 December 2015 respectively.
- 1 -
As the acquisition of the two Panamax Vessels by the JV Group will be financed by part of the proceeds from the Disposals (as defined in the announcements of the Company dated 28
February 2014, 21 March 2014, 25 April 2014, 30 May 2014, 27 June 2014, 31 July 2014, 29
August 2014, 29 September 2014, 31 October 2014, 31 December 2014 and 27 February 2015 in relation to a very substantial disposal and connected transaction of the Company respectively (collectively, the ''VSD Announcements'')) and there has been a delay in the despatch of the circular hence the completion of the Disposals as disclosed in the VSD Announcements, the JV Company and the JV Shareholders entered into a seventh memorandum of mutual understanding on 13 March 2015 and agreed to extend the time for the acquisition of the third Vessel by the JV Group to 31 December 2015 and the time for the acquisition of the forth Vessel by the JV Group to 31 December 2016.
By order of the Board
Asia Energy Logistics Group Limited
Liang Jun
Executive Director
13 March 2015
As at the date of this announcement, the executive Directors are Mr. Liang Jun, Mr. Fung Ka Keung, David and Ms. Yu Sau Lai; the non-executive Directors are Mr. Yu Baodong (Chairman), Ms. Sun Wei and Mr. Tse On Kin; and the independent non-executive Directors are Mr. Chan Chi Yuen, Mr. Zhang Xi and Professor Sit Fung Shuen, Victor.
- 2 -

distributed by