ARMS.L Regulatory News (ARMS)

20 January 2014

For Immediate Release

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

Update on Separation Transaction

Definitions in this announcement are the same as in the circular to shareholders dated 7 November 2013

Further to the announcements of 15 and 17 January 2014, ARMS announces that an updated timetable for Completion has been agreed. The deadline for Completion will be extended by four weeks to 21 February 2014. As a demonstration of its commitment to the completion of the Separation, the Bakrie Group has agreed that the $50m currently held in escrow will be transferred to the Company by 23 January 2014 and will only be repayable if the Company is in material breach of its obligations under the amended PT Bumi Resources Share Sale and Purchase Agreement. In addition, a new condition to Completion has been agreed that no general meeting of PT Bumi Resources to consider any of the agenda items (or similar agenda items) put to PT Bumi Resources shareholders on 20 December 2013 and 10 January 2014 will be held before Completion.

RACL financing for the Separation Transaction is currently available until 21 February 2014. Under the terms of the amended PT Bumi Resources Share Sale and Purchase Agreement, it is possible that the deadline for Completion is extended by one month under limited and exceptional circumstances and RACL and RBI are in the process of discussing a corresponding extension to the availability of the RACL financing for the Separation Transaction to cover off this scenario under the new completion timetable. 

- ENDS-

For enquiries, please contact: