1. Introduction

Pursuant to Guidance Note 3 (“GN3”) of the ACE Market Listing Requirement (“ACE LR”) of Bursa Malaysia Securities Berhad (“Bursa Securities”), the Board of Directors of AsiaEP Resources Berhad (“the Company”/ “ASIAEP”) wishes to announce that ASIAEP is an Affected Listed Issuer as it has triggered Paragraph 2.1(j).

2. Obligations of the Company as an Affected Listed Company

As an Affected Listed Company, the Company is required to comply with the following conditions pursuant to Rule 8.04 and GN3 of the ACE LR:

(i) submit to Bursa Securities a regularisation plan and obtain Bursa Securites’ approval to implement the plan within 12 months from the date the Company announces that it is a GN3 Company;

(ii) appoint a Sponsor within 3 months from the date the Company announces that it is a GN3 Company and retain the said Sponsor until the Company is no longer considered as a GN3 Company by Bursa Securities under Rule 8.04(8) of ACE LR;

(iii) implement the regularisation plan within 6 months from the date the regularisation plan is approved by Bursa Securities. However, in the event court proceedings are involved, the Company has up to 12 months from the date the regularisation plan is approved by Bursa Securities, to complete the implementation of the regulation plan;

(iv) provide such information as may be prescribed by Bursa Securities from time to time for public release;

(v) retain the services of a Sponsor for at least 3 full financial years after the Company is no longer considered as a GN3 company by Bursa Securities under Rule 8.04(8) of ACE LR;

(vi) announce the status of the Company’s plan to regularize its condition and the number of months to the end of the relevant timeframes on a monthly basis until further notice from Bursa Securities;

(vii) announce the Company’s compliance or non-compliance with a particular obligation imposed pursuant to GN3 on an immediate basis;

(viii) announce details of the regularisation plan, which announcement must fulfill the requirements as set out in paragraph 4.2 of GN3; and

(viii) do such other acts or things as may be required by Bursa Securities.

3. Consequences of Non-Compliance with such Obligations

If the Company fails to comply with any part of its obligations indicated above, Bursa Securities shall:-

(i) suspend the trading of the Company’s listed securities on the next market day after 5 market days from the date of notification of suspension by Bursa Securities; and

(ii) de-list the Company subject to the Company’s right to appeal against the de-listing under Rule 8.04(6) of the ACE LR.

4. Status of the Company’s Plan to Comply with the Obligation to Regularise its Condition

As at the date hereof, the Company is in the process of finalising a complete regularisation plan. An appropriate announcement shall be made by the Company on the regularisation plan in due course.

This announcement is dated 17 May 2012.