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HK Bourse: Announcement From Nickel Resources International Holdings Co. Ltd.

15 Mar 2018 4:09 am
 
    Following is the related link: 
http://www.hkexnews.hk/listedco/listconews/sehk/2018/0315/LTN20180315182.pdf 
 
 
 
                                   INSIDE INFORMATION 
This announcement is issued by Nickel Resources International Holdings Company Limited (the 
"Company", together with its subsidiaries, the "Group") pursuant to Rule 13.09(2) of the Rules 
Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong 
Limited (the "Stock Exchange") and the Inside Information Provisions (as defined in the Listing 
Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong 
Kong). 
 
References are made to the announcements of the Company (the "Announcements") dated 12 June 
2012, 19 May 2014, 20 May 2014, 13 June 2014, 19 December 2014, 12 March 2015, 12 June 2015, 
14 September 2015, 14 December 2015, 7 March 2016, 15 March 2016, 30 May 2016, 13 June 2016, 
22 June 2016, 7 July 2016, 12 September 2016, 12 December 2016, 13 March 2017, 12 June 2017, 12 
September 2017 and 15 December 2017 in relation to, among other things, the Company's (i) 12.00 
per cent. secured senior bonds finally due December 2018 (the "Senior Bonds"); (ii) 8.00 per cent. 
secured convertible bonds due March 2018 (the "Convertible Bonds"); and (iii) 10.00 per cent. bonds 
due March 2015 (the "10% Bonds", together with the Senior Bonds and the Convertible Bonds, the 
"Bonds"). Unless otherwise stated, capitalised terms used in this announcement shall have the same 
meanings as defined in the Announcements. 
 
Under the respective terms and conditions of the Bonds and the notifications of payment issued by 
Deutsche Bank AG, Hong Kong Branch, in its capacities as paying agents and transfer agents for the 
Bondholders, principals in respect of (i) the Senior Bonds in the amount of approximately 
HK$48,874,000; and (ii) the Convertible Bonds in the amount of approximately HK$46,775,000, and 
additional payments of the interest in respect of (i) the Senior Bonds in the amount of approximately 
HK$5,785,000; and (ii) the Convertible Bonds in the amount of approximately HK$923,000 have 
fallen due and were payable on 12 March 2018 (the "Due Date"). If the Company fails to pay such 
amounts in full for more than five business days from the Due Date, that is, 19 March 2018, such 
failure will constitute an event of default under the Senior Bonds and the Convertible Bonds. As at the 
date of this announcement, the Company has not yet paid such amounts. 
 
Pursuant to the trust deeds of the Bonds, the Company is obliged to pay the additional default interests 
based on the overdue sum mentioned above (the "Default Interests"), and the Default Interests of the 
Bonds amounted to approximately HK$67,949,000 have been accrued as part of the accrued interest as 
at 12 March 2018. 
 
 
 
 
                                                      1 
As at 12 March 2018, (i) the principal amount of the Senior Bonds of HK$390,990,000 and the 
accrued interest including the Default Interests of approximately HK$203,406,000 are outstanding; (ii) 
the principal amount of the Convertible Bonds of HK$46,775,000 and the accrued interest including 
the Default Interests of approximately HK$28,790,000 are outstanding; and (iii) the principal amount 
of the 10% Bonds of HK$28,400,000 and the accrued interest including the Default Interests of 
approximately HK$11,332,000 are outstanding. 
 
As disclosed in the announcements of the Company dated 22 June 2016 and 7 July 2016, 
Extraordinary Resolutions were passed and resolved for Senior Bonds and Convertible Bonds, among 
others, to approve the Debt Restructuring Proposal, not to enforce any security until approval of the 
Schemes and release the security as required under the Schemes following the Schemes becoming 
effective and to instruct the relevant bonds trustee to vote the entire principal amount of the relevant 
bonds which are outstanding in favour of the Schemes at the meetings of the Schemes. 
 
Following the passing and effectiveness of the Extraordinary Resolutions by the Company on 21 June 
2016 and 6 July 2016, from the date of the Extraordinary Resolutions to (and including) the date upon 
which the Schemes are implemented, no holders of Senior Bonds and Convertible Bonds shall demand 
repayment of any amount due under the Senior Bonds and Convertible Bonds or take any action 
against the Company whether or not under the terms and conditions of the Senior Bonds and 
Convertible Bonds or request the Senior Bonds Trustee and Convertible Bonds Trustee to take any 
action against the Company. 
 
As disclosed in the announcement of the Company dated 22 June 2016, Extraordinary Resolutions to 
the above effect have not been passed in respect of the 10% Bonds. As at the date of this 
announcement, DB Trustees (Hong Kong) Limited, in its capacity as trustee for the 10% Bondholders, 
has not made any demand for immediate repayment of the 10% Bonds since 19 December 2014 on 
which an event of default was constituted under the 10% Bonds. 
 
The Company will keep its shareholders informed of developments in relation to the Bonds, the 
Company's business operations, financial position and other matters by way of further 
announcement(s) as and when appropriate. 
 
 
CONTINUED SUSPENSION OF TRADING 
 
At the request of the Company, trading in the Shares on the Stock Exchange has been suspended since 
9:00 a.m. on 1 April 2015. The trading in the Shares on the Stock Exchange will continue to be 
suspended until further notice. 
 
 
 
 
Source: Hong Kong Exchanges & Clearing 
 
 

(END) Dow Jones Newswires

March 15, 2018 00:09 ET (04:09 GMT)
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