Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.
MONGOLIAN MINING CORPORATION
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 975)
OVERSEAS REGULATORY ANNOUNCEMENT
This overseas regulatory announcement is issued pursuant to Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
The following is the full text of the information published by Energy Resources LLC, an indirectly wholly-owned subsidiary of Mongolian Mining Corporation, on the website of the Singapore Exchange Securities Trading Limited on 5 August 2020.
For and on behalf of
Mongolian Mining Corporation
Odjargal Jambaljamts
Chairman
Hong Kong, 5 August 2020
As at the date of this announcement, the board of directors of the Company consists of Mr. Odjargal Jambaljamts and Dr. Battsengel Gotov, being the executive directors of the Company, Mr. Od Jambaljamts, Ms. Enkhtuvshin Gombo and Mr. Enkhtuvshin Dashtseren, being the non-executive directors of the Company, and Dr. Khashchuluun Chuluundorj, Mr. Unenbat Jigjid and Mr. Chan Tze Ching, Ignatius, being the independent non-executive directors of the Company.
The SGX-ST assumes no responsibility for the correctness of any of the statements made or opinions expressed or reports contained herein. Admission to the Official List of the SGX-ST and quotation of the Notes on the SGX-ST is not to be taken as an indication of the merits of the Company, its subsidiaries, its associated companies or the Notes.
ENERGY RESOURCES
(Incorporated in Mongolia with Limited Liability)
ANNOUNCEMENT
ENERGY RESOURCES GROUP EXCESS CASH CALCULATIONS
This is an announcement (the "Announcement") made by Energy Resources LLC ("ER"), an indirect wholly-owned subsidiary of Mongolian Mining Corporation (the "Parent Company").
Pursuant to Section 6.04(a)(i) of the indenture, entered into, amongst others, by the Parent Company, ER, and the Bank of New York Mellon, relating to the US$412,465,892 guaranteed senior notes due 2022 and dated 4 May 2017 (the "Indenture"), currently with an outstanding principal amount of US$14,618,186, calculations of the ER Excess Cash for the relevant Semiannual Fiscal Period (the "ER Excess Cash Calculations") are to be made publicly available periodically. Unless otherwise defined herein, capitalized terms in this Announcement will have the same meanings as those defined in the Indenture.
ER hereby provides the latest ER Excess Cash Calculations based on the respective semiannual financial statements of the ER Group which consists of ER and Energy Resources Corporation LLC and their respective subsidiaries. The latest ER Excess Cash Calculations disclosed in this Announcement covers the period from 1 January 2020 to 30 June 2020.
Further, pursuant to the Sections 6.03 and 6.04 of the Indenture, no cash shall be deposited to the debt service reserve account and no cash sweep premium is payable.
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ER Group's Excess Cash Calculations | USD' 000 |
for the period from 1 January 2020 to 30 June 2020 | (to the nearest ' 000) |
Cash flows from operating activities | |
Cash generated from operating activities | 139,660 |
Cash used in operating activities | (93,756) |
Net cash generated from operations | 45,904 |
Cash flows from investing activities | |
Payments for acquisition of property, plant and equipment and | |
construction in progress/Capex Costs/ | (2,509) |
Payments for capitalized pre-stripping costs | (30,297) |
Net cash used in investing activities | (32,806) |
Cash flows from financing activities | |
Interest paid | (20,370) |
Group Costs | (101) |
Capital element of lease rentals paid | (71) |
Interest element of lease rentals paid | (3) |
Net cash used in financing activities | (20,545) |
Net decrease in cash and cash equivalents | (7,447) |
ER Group's consolidated cash balance as at 31 December 2019 | 24,348 |
ER Group's consolidated cash balance as at 30 June 2020 | 16,901 |
ER Group's Cash Threshold Calculation | USD' 000 |
(to the nearest ' 000) | |
Cash required to be deposited into DSRA | - |
Cash used in excess of permitted cash limit | - |
Cash Threshold | 25,000 |
Certified by Ulemj Baskhuu, Chief Financial Officer on 5 August 2020
For and on behalf of
Energy Resources LLC
Battsengel Gotov
Chief Executive Officer
Ulaanbaatar, 5 August 2020
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Mongolian Mining Corporation published this content on 05 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2020 10:26:10 UTC