Asia Resource Minerals PLC Statement re FCA Investigation Settlement (4348Q)

TIDMARMS

RNS Number : 4348Q

Asia Resource Minerals PLC

17 June 2015

17 June 2015

For Immediate Release

Asia Resource Minerals plc ("ARMS" or the "Company")

Financial Conduct Authority Investigation - Settlement Press Release

Further to the Company's announcement on 17 April 2015, the FCA has today published its final notice in relation to the investigation concerning certain related party transactions involving PT Berau Coal and entities related to Rosan Roeslani in the period from listing up to 22 July 2013. These transactions were brought to the attention of the FCA by the Company in May 2013 and subsequently disclosed in the Company's 2012 Annual Report issued on 31 May 2013. The Company reviewed and enhanced its policies and procedures in the context of the return to trading of its shares which took place on 22 July 2013.

The Company has accepted the FCA's findings. The FCA has imposed a financial penalty of GBP4,651,200, which is within the provision already made in the Company's financial statements and forecasts. As noted in the final notice, the financial penalty would have been 30% higher but for the fact that the Company qualified for a 30% discount under the FCA's executive settlement procedures.

- ENDS-

For enquiries, please contact:

 
 
   Asia Resource Minerals     RLM Finsbury 
   plc 
                              Ed Simpkins / Charles 
   Sean Wade                  O'Brien 
   [phone]       [phone] 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

STRGGUGGQUPAGUM