TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS): NON RELATED PARTY TRANSACTIONS PROPOSED SUBSCRIPTION OF 20 MILLION NEW ORDINARY SHARES OF RM1.00 EACH IN LESTARI PASIFIK BERHAD ("LPB") ("SUBSCRIPTION SHARES") AT AN ISSUE PRICE OF RM1.00 PER SHARE REPRESENTING APPROXIMATELY 3.23% OF THE ENLARGED ISSUED AND PAID-UP SHARE CAPITAL OF LPB ("PROPOSED SUBSCRIPTION")

ASIAEP RESOURCES BERHAD
16/08/2012 05:28:19 PM

Type	Announcement
Subject	TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) NON RELATED PARTY TRANSACTIONS
Description	PROPOSED SUBSCRIPTION OF 20 MILLION NEW ORDINARY SHARES OF RM1.00 EACH IN LESTARI PASIFIK BERHAD ("LPB")("SUBSCRIPTION SHARES") AT AN ISSUE PRICE OF RM1.00 PER SHARE REPRESENTING APPROXIMATELY 3.23% OF THE ENLARGED ISSUED AND PAID-UP SHARE CAPITAL OF LPB ("PROPOSED SUBSCRIPTION")

Reference is made to the announcements dated 10 October 2011, 11 October 2011, 12 October 2011 and 28 February 2012 in respect of the Proposed Subscription, 19 March 2012, 25 April 2012, 18 May 2012 and 10 July 2012 in relation to the Company's demand for the refund of RM2,000,000/= (Ringgit Malaysia Two Million) deposit placed with Lestari Pasifik Berhad ("LPB").

Following the previous announcement about the filing of appeal by LPB against the dismissal by the High Court of their injunction application against the winding up petition ("The appeal"), the Company wishes to announce that, during the hearing on 15 August 2012, the appeal was withdrawn.

The Company will make the necessary announcements on further development on this matter in due course.

This announcement is dated 16 August 2012.