ASIA ENERGY LOGISTICS GROUP LIMITED 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.
This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of the Company.
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: 351)
CONVERSION OF THE TRANCHE 1 NOTES
On 30 October 2015, the Company received a conversion notice from the Subscriber in respect of the exercise of the Conversion Rights attached to the Tranche 1 Notes in the aggregate amount of HK$250,000 held by the Subscriber at the Conversion Price of HK$0.0712 per Conversion Share, which is the Floating Conversion Price and equals to 80% of the average of the closing price per Share on three consecutive Business Days from
24 August 2015 to 26 August 2015 of HK$0.089. As a result of this conversion, the Company allotted and issued the Tranche 1 Conversion Shares to the Subscriber on 3 November 2015.
CONVERSION OF THE TRANCHE 1 NOTES
Reference is made to the circular of the Company dated 13 March 2015 (the ''Circular'') and the announcement of the Company dated 2 April 2015, 9 April 2015, 14 April 2015, 24 April
2015, 5 May 2015, 14 May 2015, 19 May 2015, 21 May 2015, 26 May 2015, 1 June 201, 5 June
2015, 15 June 2015, 19 June 2015, 23 June 2015, 12 August 2015 and 1 September 2015 (the ''Announcements'') in relation to the issue and conversion of the Convertible Notes. Capitalised terms used in this announcement shall have the same meanings as those defined in the Circular and the Announcements unless otherwise stated herein.
On 30 October 2015, the Company received a conversion notice from the Subscriber in respect of the exercise of the Conversion Rights attached to the Tranche 1 Notes in the aggregate amount of HK$250,000 held by the Subscriber at the Conversion Price of HK$0.0712 per Conversion Share, which is the Floating Conversion Price and equals to 80% of the average of the closing price per Share on three consecutive Business Days from 24 August 2015 to 26 August 2015 of HK$0.089. As a result of this conversion, the Company allotted and issued a total of 3,511,235 Conversion Shares (the ''Tranche 1 Conversion Shares'') to the Subscriber on 3 November 2015.
As disclosed in the Circular, the Conversion Price shall be, at the option of the Subscriber, either the Fixed Conversion Price, which is HK$0.171 per Conversion Share in respect of the Tranche 1 Notes, or the Floating Conversion Price, which is 80% of the average of the closing prices per Share on any three consecutive Business Days as selected by the relevant Noteholder during the 45 Business Days immediately preceding the relevant Conversion Date on which Shares were traded on the Stock Exchange.
The Tranche 1 Conversion Shares will rank pari passu with all the existing Shares at the date of allotment and among themselves in all respects. The issued share capital of the Company will be increased to 14,159,265,469 Shares upon allotment and issue of the Tranche 1 Conversion Shares and the Tranche 1 Conversion Shares represent approximately 0.024804% of the issued share capital of the Company immediately before the allotment and issue of the Tranche 1 Conversion Shares and approximately 0.024798% of the issued share capital of the Company as enlarged by the allotment and issue of the Tranche 1 Conversion Shares.
By order of the Board
Asia Energy Logistics Group Limited Liang Jun
Executive Director
30 October 2015
As at the date of this announcement, the executive directors of the Company are Mr. Liang Jun, Mr. Fung Ka Keung, David, Ms. Yu Sau Lai and Mr. Tse On Kin; the non-executive directors of the Company are Mr. Yu Baodong (Chairman) and Ms. Sun Wei; and the independent non- executive directors of the Company are Mr. Chan Chi Yuen, Mr. Zhang Xi and Prof. Sit Fung Shuen, Victor.
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