Suspension of Trading in the Shares of IRC Limited

18 November 2013

IRC Limited: General Nice Development Limited and Minmetals Cheerglory Limited Subscription Completion Deferred

Petropavlovsk PLC (the "Company") is pleased to confirm that IRC Limited ("IRC") has today announced the outcome of discussions with strategic partners General Nice Development Limited ("General Nice") and Minmetals Cheerglory Limited ("Minmetals Cheerglory") with regard to possible revisions to the timing and order of the completion of the General Nice Further Subscription and the Minmetals Cheerglory Subscription. The transaction will now complete on or before 30 December 2013 with the same structure as previously announced by the Company and IRC.

As completion of the Minmetals Cheerglory Subscription can only take place after the General Nice Further Subscription Completion has occurred, IRC and Minmetals Cheerglory have also agreed that the Minmetals Cheerglory Subscription shall take place on or before 30 December 2013, following the completion of the General Nice Further Subscription.

An application has been made by IRC to the Stock Exchange of Hong Kong Limited for the resumption of trading in the shares of IRC with effect from 09:00 on Tuesday 19 November 2013.

Further details may be found in the announcement of IRC Limited, available on its website

www.ircgroup.com.hk

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