Microsoft Word - ASX Release - Update on Refinancing Plan_130415 Straits

13 APRIL 2015 ASX/MEDIA RELEASE

STRAITS RESOURCES LIMITED (ASX: SRQ)

UPDATE ON REFINANCING PLAN

Straits Resources Limited (Straits or Company) is pleased to announce that Straits and Standard Chartered Bank (SCB) have agreed to extend the period for completion of the restructure of the Company's existing debts and refinancing (Refinancing Plan) by a further three months (ie. until 13 July 2015).
The extension comes on the back of the Company's advanced discussions with SCB in respect of the Refinancing Plan. As part of the extension, Straits and SCB are to agree to the indicative terms and conditions of the Refinancing Plan this week.
Straits is also currently in discussions with a number of parties in respect of introducing a new funding source to meet the Company's ongoing requirements post restructure.
Straits will continue to keep shareholders updated with regards to progress on the restructure.
ENDS

For further information, please contact:

Mr. Andre Labuschagne

Executive Chairman

Tel: +61 7 3034 6200, or visit our website at www.straits.com.au

Media:

Michael Vaughan / Annette Ellis

Cannings Purple

Tel: +61 8 6314 6300

mvaughan@canningspurple.com.au/ aellis@canningspurple.com.au

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