(Company Registration No. 198700983H)
The Board of Directors (the "Board") of Jasper Investments Limited (the "Company" and together with its subsidiaries, the "Group") refers to the Company's announcement dated 22 August 2014 (the "Previous Announcement"). Unless otherwise defined, all capitalized terms used in this announcement shall bear the same meanings ascribed to them in the Previous Announcement.
Further to the Previous Announcement, the Board wishes to inform that Jasper Cosmopolitan has been unable to raise sufficient funds to take delivery of the Jasper Cosmopolitan vessel from Yiulian Shipyard, and as such a Non-payment Event has occurred. Pursuant to the Non-payment Event, Yiulian Shipyard has exercised its right to seek to sell the Jasper Cosmopolitan vessel. The Group intends to work collaboratively with Yiulian Shipyard on the sale process and, to the best of the Board's ability, negotiate a profit share in the interest of enhancing the Jasper Cosmopolitan vessel's sale price and increase the value to the benefit of the shareholders. Further announcements will be made on any material developments on the foregoing matters, as and when appropriate.
Paul Carsten Pedersen
Chief Executive Officer
1 September 2014
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