Nickel Resources Internatnl Hldgs : Announcements and Notices - Decision of the Listing Appeals Committee; and Further Delay in Despatch of Circular

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Nickel Resources International Holdings Company Limited

鎳資源國際控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2889)

DECISION OF THE LISTING APPEALS COMMITTEE;

AND

FURTHER DELAY IN DESPATCH OF CIRCULAR

References are made to the announcements of Nickel Resources International Holdings Company Limited (the "Company") dated 7 March 2016, 30 September 2016, 31 May 2017, 14 September 2017, 13 December 2017, 15 January 2018, 14 February 2018, 14 March 2018, 10 April 2018, 10 May 2018, 11 June 2018, 4 July 2018, 11 July 2018, 31 July 2018, 31 August 2018, 2 October 2018, 16 October 2018, 26 October 2018, 2 November 2018, 29 November 2018, 31 December 2018, 31 January 2019, 28 February 2019, 29 March 2019, 30 April 2019, 4 June 2019 (the "Announcements") in relation to, among other things, the Resumption Proposal and the delay in despatch of the Circular. Unless otherwise stated, capitalised terms used herein shall have the same meanings as those defined in the Announcements.

DECISION OF THE LISTING APPEALS COMMITTEE

The LAC Review Hearing was held on 5 June 2019 for a review of the LRC Decision. On 14 June 2019, the Stock Exchange issued a letter to the Company informing the Company that the Listing Appeals Committee decided to uphold the LRC Decision and accordingly the Company's listing should be cancelled under Practice Note 17 to the Listing Rules (the "LAC Decision").

The Company has decided to seek leave to apply for judicial review against the LAC Decision. The Company is discussing with its counsel in respect of the preparation of such application.

FURTHER DELAY IN DESPATCH OF CIRCULAR

As disclosed in the Company's announcement dated 11 June 2018, the Subscription, which forms part of the Resumption Proposal, is not conditional on the resumption of trading of the Company's shares on the Stock Exchange. Therefore, the Company intends to continue to proceed with the Subscription pursuant to the Subscription Agreement. The Company has no intention to terminate any of the remaining transactions contemplated under the Resumption Proposal. Upon receipt of the legal advice from its counsel, the Company will discuss with the relevant parties to determine if any amendment to the existing Resumption Proposal is necessary. Further announcement(s) will be made to update the shareholders and the potential investor of the Company as and when appropriate.

As disclosed in the Company's announcement dated 30 April 2019, the Circular was expected to be despatched to the Shareholders on or before 21 June 2019. Considering the additional time required for the Company to seek legal advice in respect of the judicial review, the Circular will not be despatched on or before 21 June 2019. As such, the Company has applied to the Executive for its consent to further extend the deadline for despatch of the Circular and the Executive has indicated that it is minded to grant consent to a date no later than 3 July 2019.

At the request of the Company, trading in the Shares on the Stock Exchange has been suspended since 9:00 a.m. on 1 April 2015.

Shareholders and potential investors of the Company who have any queries about the implications of the cancellation of the Company's listing are advised to obtain appropriate professional advice and should exercise caution when dealing in Shares or other relevant securities of the Company.

By order of the Board of

Nickel Resources International Holdings Company Limited

Dong Shutong

Chairman

Hong Kong, 21 June 2019

As at the date of this announcement, the executive Directors are Mr. Dong Shutong (Chairman), Mr. Dong Chengzhe, Mr. Wang Ping, Mr. Song Wenzhou and Mr. Yang Fei; the non-executive Director is Mr. Yang Tianjun; and the independent non-executive Directors are Mr. Bai Baohua, Mr. Wong Chi Keung and Mr. Fahmi Idris.

All Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable inquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement contained in this announcement misleading.

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