Bel Global Resources : Third Delisting Stage

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.

百營環球資源控股有限公司

(incorporated in Bermuda with limited liability)

(stock code: 761)

References are made to the announcements of Bel Global Resources Holdings Limited (the "Company") dated 4 July 2011, 22 December 2011, 4 December 2014, 20 October 2015 and 19 April 2016 respectively in relation to, among other things, the suspension of trading of shares (the "Shares") of the Company on the Stock Exchange of Hong Kong Limited (the "Stock Exchange"), conditions for resumption of trading of the Shares of the Company, updates on resumption, update on the listing status of the Company and updates on recent development of suspension and litigations (the "Announcements"). Unless otherwise stated, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements.

On 24 October 2016, the Stock Exchange issued a letter to the Company informing the Company that it has decided to place the Company into the third delisting stage under Practice Note 17 to the Listing Rules.

The third delisting stage shall commence on 3 November 2016 and shall expire on 2 May 2017. The Company should provide a viable resumption proposal to the Stock Exchange at least 10 business days before the third delisting stage expires (i.e. 12 April 2017) to:

1. demonstrate sufficient operations or assets as required under Rule 13.24 of the Listing Rules;

2. demonstrate sufficient working capital for at least twelve months from its expected resumption date;

3. address the concern of incident about the disputed convertible bonds, being part of the consideration of the very substantial acquisition announced on 11 October 2007, and inform the market of all material information including its impact on the Company's financial and operational positions;

4. demonstrate that there is no reasonable regulatory concern about the character, level of due care and integrity of the Company's management which will pose a risk to investors and damage market confidence;

5. publish all outstanding financial results and address any audit qualifications; and

6. demonstrate that there are adequate and effective financial reporting procedures and internal control systems to meet the obligations under the Listing Rules.

The viable resumption proposal must be clear, plausible and coherent, and contain sufficient details (including forecasts and clear plan for future business development) for the Stock Exchange's assessment. The Company must demonstrate that it has business of substance and the business model is viable and sustainable. The resumption proposal should also comply with the Listing Rules and all applicable laws and regulations. If the Company fails to submit a viable resumption proposal by the end of the third delisting stage, the Company's listing will be cancelled.

Further announcements will be made by the Company in respect of the resumption proposal as and when appropriate.

At the request of the Company, trading in the Shares on the Stock Exchange has been suspended with effect from 9:00 a.m. on 4 July 2011 and will continue to be suspended until further notice.

By order of the Board

Company Secretary

Hong Kong, 3 November 2016

As at the date of this announcement, (i) the executive Directors are Ms. Sze Shan Shan, Pat, (note 1) and Mr. Li Wing Tak (note 2); (ii) non-executive Director is Mr. Cai Dubing; and (iii) the independent non-executive Directors are Dr. Chang Soo-kong and Mr. Ho Wai Chi, Paul.

Note 1: Positions, duties and functions suspended with effect from 12 December 2014. Note 2: Mr. Li Wing Tak has appointed Mr. Wong Wan Sing as his alternate Director.