IRC: Further Subscription Update

17 November 2014

General Nice Further Subscription Update

Petropavlovsk PLC wishes to notify that IRC Limited ("IRC") has today announced that, following further discussions with General Nice and Mr Cai Sui Xin, the controlling shareholder and Chairman of General Nice, IRC has been informed by General Nice that it is aiming to complete the remainder of the General Nice Further Subscription of HK$296,344,400 (c.US$38.2m), on or before 18 December 2014.

Upon receiving full payment, IRC shall allot and issue to General Nice 315,260,000 Shares as General Nice Further Subscription Shares (the original subscription price of HK$0.94 is unchanged).

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

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