Auric Pacific : Voluntary Conditional General Cash Offer For Auric Pacific Group Limited - Loss Of Public Float

AURIC PACIFIC GROUP LIMITED

(Company Registration No. 198802981D)

1. INTRODUCTION

   The Board of Directors ("Board" or "Directors") of Auric Pacific Group Limited (the "Company") refers to, inter alia:

2. the announcement released on 7 February 2017 by RHB Securities Singapore Pte. Ltd. ("RHBSEC"), for and on behalf of Silver Creek Capital Pte. Ltd. (the "Offeror"), in relation to the Offer (the "Offer Announcement");

3. the offer document dated 21 February 2017 containing the terms and conditions of the Offer (the "Offer Document");

4. the circular dated 7 March 2017 containing, inter alia, the advice of the independent financial adviser to the Recommending Directors and the recommendation of the Recommending Directors to Shareholders in relation to the Offer (the "Circular");

5. the announcement released jointly by the Company and the Offeror dated 13 March 2017 in relation to, inter alia, the proposed voluntary delisting of the Company; and

6. the announcement released by RHBSEC, for and on behalf of the Offeror, dated 17 March 2017 in relation to, inter alia, the Offer being declared to be unconditional in all respects and the extension of the Closing Date of the Offer (the "Unconditional Offer Announcement").

   All capitalized terms used and not defined herein shall have the same meanings ascribed to them in the Circular.

7. LOSS OF PUBLIC FLOAT AND SUSPENSION IN TRADING

   The Unconditional Offer Announcement states that, inter alia, at 5.00 p.m. (Singapore time) on 16 March 2017, the Offeror and its Concert Parties held (including valid acceptances of the Offer) in aggregate 113,285,946 Shares, representing 90.15% of the total number of Shares in issue.

   Rule 723 of the Listing Manual requires at least 10.0% of the total number of issued Shares (excluding treasury shares, preference shares and convertible equity securities) to be held by the public at all times (the "Free Float Requirement").

   In accordance with Rule 724(1) of the Listing Manual, the Company wishes to announce that as the Offeror has received valid acceptances pursuant to the Offer that bring the holdings owned by it and its Concert Parties to above 90.0% of the total number of issued Shares (excluding any Shares held in treasury), the percentage of Shares held by the public as at 5.00 p.m. (Singapore time) on 16 March 2017 is approximately 9.85% and is therefore less than the requisite 10.0% under the Free Float Requirement.

   Pursuant to Rule 1303(1) of the Listing Manual, as the Offeror and its Concert Parties have, through acceptances or otherwise, succeeded in holding more than 90.0% of the Shares in issue, the SGX-ST will suspend trading of the Shares on the SGX-ST at the close of the Offer.

   As stated in the Offer Announcement and the Offer Document, the Offeror intends to privatise and delist the Company from the SGX-ST. In the event that the trading of Shares on the SGX- ST is suspended pursuant to Rule 724, Rule 1105 or Rule 1303(1) of the Listing Manual, the Offeror does not intend to support any action or take any steps to maintain the listing status of the Company or to restore the Free Float Requirement, consistent with its intention to delist the Company from the SGX-ST.

8. EXTENSION OF CLOSING DATE AND FINAL CLOSING DATE

   As announced by RHBSEC, for and on behalf of the Offeror, in the Unconditional Offer Announcement, the Closing Date of the Offer will be extended for a further period of 14 days from 5.30 p.m. on 24 March 2017 to 5.30 p.m. on 7 April 2017.

9. DIRECTORS' RESPONSIBILITY STATEMENT

The Directors (including those who may have delegated detailed supervision 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 no material facts have been omitted from this announcement which would make any statement in this announcement misleading, and they jointly and severally accept responsibility accordingly.

Where any information has been extracted or reproduced from published or otherwise publicly available sources, the sole responsibility of the Directors has been to ensure, through reasonable enquiries, that such information has been accurately and correctly extracted from such sources and/or reflected or reproduced in this announcement in its proper form and context.

BY ORDER OF THE BOARD

Adrian Chan Pengee Company Secretary

17 March 2017