OREANDA-NEWS. June 11, 2013. The Purchaser confirmed that it can not complete the financing for the consideration on or before 31 May 2013, a condition precedent under the Sale and Purchase Agreement. Accordingly, the Sale and Purchase Agreement has lapsed.

The Board considered that the lapse of the Sale and Purchase Agreement will not have any material adverse impact on the existing business ofthe Group.

References are made to the announcements of the Company dated 31 August 2012, 4 September 2012, 28 December 2012, 21 January 2013 and 15 March 2013 and the circular of the Company dated 12 October 2012 (the “Circular”) in relation to, among other things, the Proposed Disposal. Capitalised terms used here in have the same meanings as defined in the Circular unless otherwise specified.

As mentioned in the Circular, completion of the Proposed Disposal is subject to the fulfillment or waiver (as the case may be) of the conditions precedent in the Sale and Purchase Agreement.

On 31 May 2013, the Purchaser confirmed that it cannot complete the financing for the consideration on or before 31 May 2013, a condition precedent under the Sale and Purchase Agreement. Accordingly, the Sale and Purchase Agreement has lapsed and the parties to the Sale and Purchase Agreement have no right to file any claim against the other party.

The Board considered that the lapse of the Sale and Purchase Agreement will not have any material adverse impact on the existing business of the Group.