Chemoil Energy : Proposed voluntary delisting of Chemoil Energy Limited dealings disclosure and level of acceptances

General Announcement::PROPOSED VOLUNTARY DELISTING OF CHEMOIL E...

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General Announcement::PROPOSED VOLUNTARY DELISTING OF CHEMOIL ENERGY LIMITED DEALINGS DISCLOSURE AND LEVEL OF ACCEPTANCES

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4/17/2014

in connection with

by

for and on behalf of SINGFUEL INVESTMENT PTE. LTD. (Incorporated in the Republic of Singapore) (UEN/Reg. No: 200716010M)

an indirect wholly-owned subsidiary of

(Incorporated in Jersey) (Company Registration No.: 107710)

to acquire all of the issued ordinary shares in the capital of

other than those already owned, controlled or agreed to be acquired by

Singfuel Investment Pte. Ltd.

DBS Bank Ltd. ("DBS") refers to the exit offer letter dated 31 March 2014 (the "Exit Offer Letter") for the exit offer (the "Exit Offer") in connection with the proposed voluntary delisting of Chemoil Energy Limited ("Chemoil") for all the issued ordinary shares ("Shares") in the capital of Chemoil, other than those Shares already owned, controlled or agreed to be acquired by Singfuel Investment Pte. Ltd. (the "Offeror").
All capitalised terms used and not defined herein shall have the same meanings given to them in the Exit Offer Letter.

1

Pursuant to Rule 12.1 of the Singapore Code on Take-overs and Mergers, DBS wishes to announce, for and on behalf of the Offeror, that the Offeror has acquired1 the following Shares on 16 April 2014 (the "Acquired Shares") on the Singapore
Exchange Securities Trading Limited, details of which are set out below:

Pursuant to Rule 28.1 of the Code, DBS wishes to announce, for and on behalf of the Offeror, that as at 5.00 p.m. (Singapore time) on 16 April 2014, the total number of Shares (i) held before the offer period, (ii) acquired or agreed to be acquired during the offer period and (iii) for which valid acceptances of the Exit Offer have been received,
are as follows:

1 In this Announcement, Shares agreed to be acquired pursuant to a trade on the SGX-ST on a trade date are regarded as Shares already acquired on that trade date, notwithstanding that settlement of that trade will occur three market days later.

2 All references to percentage shareholding of the issued share capital of Chemoil in this Announcement are based

on 1,304,118,865 Shares in the issued share capital of Chemoil as at the date of this Announcement and are rounded to the nearest three decimal places.

2

As at 5.00 p.m. (Singapore time) on the date of this Announcement, the total number of (i) Shares owned, controlled or agreed to be acquired by the Offeror and parties acting in concert with it, and (ii) valid acceptances to the Offer, amount to an aggregate of
1,245,116,807 Shares, representing approximately 95.48 per cent. of the issued share capital of Chemoil.

The directors of the Offeror (the "Offeror Directors") (including any who may have delegated detailed supervision of the preparation of this Announcement) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this Announcement are fair and accurate and that, where appropriate, no material facts in relation thereto have been omitted from this Announcement, and the Offeror Directors jointly and severally accept responsibility accordingly.
Where any information has been extracted or reproduced from published or publicly available sources (including, without limitation, in relation to Chemoil), the sole responsibility of the Offeror Directors has been to ensure through reasonable enquiries that such information is accurately extracted from such sources or, as the case may be, reflected or reproduced in this Announcement.
Issued by

For and on behalf of

16 April 2014
Singapore

3

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