Further Subscription Completion Deferred

25 June 2014

General Nice Further Subscription Completion And

Minmetals Cheerglory Subscription Completion Deferred

Petropavlovsk PLC wishes to notify that IRC Limited ("IRC") has announced that the General Nice further subscription and the Minmetals Cheerglory subscription completion did not take place today as planned. The Company is in discussions with General Nice, Mr Cai Sui Xin (the controlling shareholder and Chairman of General Nice) and Minmetals Cheerglory about a further deferred completion and other available options. A further announcement will be released in due course.

Further details may be found in the announcement of IRC Limited, available on its website www.ircgroup.com.hk

IRC is a producer and developer of industrial commodities and was the Group's former Non-Precious Metals Division, prior to its listing on the Stock Exchange of Hong Kong Limited (stock code 1029).

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