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HK Bourse: Announcement From Real Gold Mining Ltd.

23 May 2017 4:10 am
 
    Following is the related link: 
http://www.hkexnews.hk/listedco/listconews/sehk/2017/0523/LTN20170523127.pdf 
 
 
           UPDATE ON THE STATUS OF CHINA GUANGFA BANK ACCOUNTS 
                               OF THE GROUP 
 
This announcement is made pursuant to Rule 13.09 of the Rules (the "Listing Rules") Governing the 
Listing of Securities on The Stock Exchange of Hong Kong Limited and the Inside Information 
Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures 
Ordinance (Cap. 571 of the Laws of Hong Kong). 
 
Reference is made to the announcement of Real Gold Mining Limited (the "Company") dated 31 
March 2017 in relation to, among other things, the further update on progress on the Company's 
fulfillment of resumption conditions and other information relating to the Company and its subsidiaries 
(the "Group") (the "Announcement"). Capitalised terms not otherwise defined herein shall have the 
same meanings given to them in the Announcement. 
 
The board of directors ("Directors") of the Company announces that on or around 16 March 2017, the 
Company received bank statements from China Guangfa Bank (Huizhou Branch) for the Company's 
bank accounts maintained at such bank for the month ended 30 November 2016 ("November Bank 
Statement") and for the month ended 31 December 2016 ("December Bank Statement"). Consistent 
with the Company's internal records, the November Bank Statement showed that the Company had, 
inter alia, fixed deposits of HK$200,000,000 ("Fixed Deposits") held with China Guangfa Bank 
(Huizhou Branch). However, such Fixed Deposit was not shown in the December Bank Statement. The 
Directors made internal enquiries and confirmed that the Company had not authorised or procured the 
drawing of the Fixed Deposit from its bank accounts during December 2016. Therefore, the Directors 
considered that it was possible that China Guangfa Bank (Huizhou Branch) might have made an error 
in the December Bank Statement. The Company made enquiries with China Guangfa Bank (Huizhou 
 
 
 
 
                                                          -1- 
Branch) about the said error but to no avail. The Company therefore sought assistance from its legal 
advisors in the People's Republic of China (the "PRC") who demanded China Guangfa Bank (Huizhou 
Branch) to explain the status of the Fixed Deposit. 
 
In addition, according to the Group's accounting records, one of the subsidiaries of the Group, Rich 
Vision Holdings Limited ("Rich Vision") has fixed deposits of HK$317,000,000 held with China 
Guangfa Bank (Huizhou Branch) ("Rich Vision Fixed Deposits"). Through its PRC legal advisors, the 
Company also demanded China Guangfa Bank (Huizhou Branch) to confirm the status of Rich Vision 
Fixed Deposits. As at the date of this announcement, China Guangfa Bank (Huizhou Branch) has not 
provided the Company or its PRC legal advisors with any information about the Company's Fixed 
Deposit or the Rich Vision Fixed Deposits. The Company is working closely with its PRC legal 
advisors and is considering taking legal action in the PRC against China Guangfa Bank (Huizhou 
Branch) in respect of the suspension of operations of accounts, the Fixed Deposit of the Company and 
the Rich Vision Fixed Deposits. 
 
SUSPENSION OF TRADING 
 
Trading in the shares of the Company will remain suspended until further notice. 
 
Shareholders and potential investors of the Company are advised to exercise caution when dealing 
in the securities of the Company. 
 
 
 
Source: Hong Kong Exchanges & Clearing 
 
 

(END) Dow Jones Newswires

May 23, 2017 00:10 ET (04:10 GMT)
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