Brief: Lippo China Resources issues updates relating to CS Mining

Lippo China Resources

10/11/2016 11:39

Nov 10 (Reuters) - Lippo China Resources Ltd  0156.HK : 
    * Chief Restructuring Officer was appointed by bankruptcy 
court to operate business and prepare business of CS Mining for 
a possible sale 
    * Order for debtor-in-possession loan facility by parties 
independent of Lippo and LCR in amount of US$7.675 million 
approved by bankruptcy court. 
    * Pursuant to terms of DIP loan, CS Mining has to commence 
and conclude sale process  pursuant to certain milestones 
    * Existing carrying value of LCR Group's investment in CS 
Mining amounted to approximately hk$58 million 
    * Reference is made to joint announcements made by Lippo and 
LCR on 5 may 2016, 26 may 2016, 3 june 2016, 6 june 2016 
 
Source text for Eikon:  ID:nHKS7t0vC3  
Further company coverage:  0156.HK  
 
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