ARMS.L Regulatory News (ARMS)

29 October 2014

For Immediate Release

Asia Resource Minerals plc ("ARMS" or the "Company")

Major Interest in Shares

Earlier today the Company released a TR-1: Notification of Major Interest in Shares ("TR-1") received yesterday from Raiffeisen Bank International AG, Singapore Branch ("RBI Singapore") which confirmed that the indirect control of voting rights in respect of 57,361,411 ordinary shares in the Company, representing 23.8 per cent. of all of the ordinary shares, had transferred from Samin Tan to RBI Singapore (or its nominee) and that Ravenwood Pte Ltd. and Ravenwood Acquisition Company Limited (the "Ravenwood Entities") are now controlled undertakings of RBI Singapore. Further, the TR-1 confirmed that the boards of the Ravenwood Entities comprise only directors nominated by RBI Singapore.

To date, no equivalent notification has been received by the Company from Samin Tan confirming a commensurate reduction in Mr Tan's control of voting rights in the Company. Although the board of ARMS has been urgently seeking to clarify the position, based on the facts included in the TR-1, it would appear that the Company no longer has a "controlling shareholder" for the purposes of the Listing Rules of the Financial Conduct Authority (the "Listing Rules"). Samin Tan remains able indirectly to control the exercise of votes through PT Borneo Lumbung Energi & Metal Tbk and Borneo Bumi Energi & Metal Pte. Ltd in respect of a further 57,235,656 ordinary shares in the Company, representing 23.8 per cent. of all of the ordinary shares.

By virtue of matters disclosed in the TR-1 and in the absence of further evidence to the contrary (which the board of ARMS is also seeking), it would also appear that Ravenwood Acquisition Company Limited, an entity previously controlled by Samin Tan, has ceased to be his "associate" (for the purposes of the Listing Rules), and the relationship agreement dated 4 November 2013 between Samin Tan controlled entities and the Company and entered into in connection with the separation transaction (the "Relationship Agreement") appears, save for certain limited provisions, to have automatically terminated with immediate effect in accordance with its terms.

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