CHEQUEmate Zijin !, page-3

Reply from ASX lords of universe.

ASX refers to your email dated 12 March 2019 raising concerns about the proposed payments to NKPshareholders by Gold Mountains (Bermuda) Investment Limited (“BidCo”) following the amalgamation of NKPand BidCo.

We understand your concerns to be that dissentient shareholders are vulnerable as on 18 March 2019 NKPannounced that the amalgamation has become effective under Bermudan law and flagged its intention to delistfrom ASX and this may occur prior to the determination by the Supreme Court of Bermuda of the fair value to bepaid to those shareholders.

ASX does not have power to interfere in the operation of a takeover according to law. However, and as you areaware, on 16 August 2018, NKP released a copy of the amalgamation agreement on the ASX marketannouncements platform. The agreement contains provisions dealing with the legal effect of the amalgamationon the capital structure and the obligations of the parties thereto. Specifically:

 Clause 9(a)(2) provides that, when the amalgamation becomes effective, each share held by a dissentientshareholder will be cancelled and converted to a right to receive the fair value thereof as appraised bythe court in accordance with the legislation and on application by a dissentient shareholder.

 Clause 10.6 provides that dissentient shareholders will receive the fair value as determined following theapplication within one month of the court’s determination, and that no interest shall be paid or will accrueon any cash payable to holders of NKP shares.

 Clause 3(k) provides that from and after the time on which the amalgamation becomes effective, NKPshareholders will cease to have any rights as shareholders except for those in clause 9.

As ASX understands it, then, your rights as a dissentient shareholder to the value determining process continueunder Bermudan law but you are no longer a holder of NKP securities. In light of this, and the fact as NKP doesnot have control over the court’s timetable, ASX does not consider that it would be appropriate to determinethe application for removal from the official list with reference to this particular matter.
Kind regards