(2) Updates on Notification of Seizure of Substantial Shareholder&rsquo s Shares 

 

The Board of Directors (&ldquo Board&rdquo ) of Alliance Mineral Assets Limited (the &ldquo Company&rdquo ) refers to the Company&rsquo s announcement on &ldquo Clarification to Articles Published in the Edge Singapore&rdquo dated 2 August 2017 and the Company&rsquo s announcements on , &ldquo Update of Settlement Agreement&rdquo dated 1 November 2017 and &ldquo Notification of Seizure of Substantial Shareholder&rsquo s Shares&rdquo dated 5 December 2017 (collectively, the &ldquo Announcements&rdquo ) Unless otherwise defined, all capitalised terms used herein shall bear the same meaning as in the Announcements. The Board wishes to update shareholders that it has been informed that Living Waters Mining Australia Pty Ltd (&ldquo LWMA&rdquo ) and Tjandra have entered into a Sales & Purchase Agreement (&ldquo S& P Agreement&rdquo ) on 12 January 2018 to sell 19 million shares in the capital of the Company (&ldquo Shares&rdquo ) held by them to a private investor, representing 3.42% of the Company&rsquo s existing issued and paid-up share capital. At the completion of the sale and purchase transaction, LWMA and Tjandra will hold 67,104,574 Shares, representing 12.08% of the Company&rsquo s existing issued and paid up share capital and will remain as a substantial shareholder of the Company. The Board refers to the Announcements and wishes to inform shareholders that as at 17 January 2018, LWMA has fully repaid all debts owed to Jonathan Lim and Grande Pacific, and that the Injunction Order on the Frozen Shares, being 46,074,788 Shares, has been discharged. Jonathan Lim and Grande Pacific have also agreed to withdraw all execution proceedings under the Writ of Seizure and Sale on the Seized Shares, being 40,029,786 Shares. The Company will make further disclosures if and when there are material updates, including the receipt of notification(s) from LWMA and Tjandra in respect of their interest in the Company&rsquo s Shares pursuant to the S& P Agreement upon completion.