SouthGobi Resources Limited
TSX : SGQ
HKSE : 1878

SouthGobi Resources Limited

October 03, 2016 08:53 ET

Resignation of Hong Kong Company Secretary and Change of Authorized Representative

HONG KONG, CHINA--(Marketwired - Oct. 3, 2016) - SouthGobi Resources Ltd. (TSX:SGQ)(HKSE:1878) ("SouthGobi" or the "Company") announces the resignation of Mr. Cheng Yuk Wo, Erik ("Mr. Cheng") as the Hong Kong Company Secretary and the Authorized Representative of the Company under the Companies Ordinance, Chapter 622 of the laws of Hong Kong (the "Companies Ordinance" and the "Resignation", respectively) and Mr. Cheng's cessation as an Authorized Representative of the Company under the Rules Governing the Listing of Securities on the Stock Exchange (the "Listing Rules" and the "Cessation", respectively), with effect from October 1, 2016. Mr. Cheng has confirmed that he has no disagreement with the board of directors of the Company (the "Board") and there is no matter relating to the Resignation and the Cessation that needs to be brought to the attention of the shareholders of the Company.

The Company is in the process of identifying a suitable candidate to fill the vacancy of the Hong Kong Company Secretary of the Company. Further announcement will be made once the new Hong Kong Company Secretary is appointed.

Following the Cessation, the Company further announces that Mr. Yulan Guo, the executive director and Chief Financial Officer of the Company, has been appointed as an Authorized Representative of the Company under Rules 3.05 and 19.05 (2) of the Listing Rules and the Authorized Representative under Part 16 of the Companies Ordinance, with effect from October 3, 2016.

About SouthGobi

SouthGobi, listed on the Toronto and Hong Kong stock exchanges, owns and operates its flagship Ovoot Tolgoi coal mine in Mongolia. It also holds the mining and exploration licences of its other metallurgical and thermal coal deposits in South Gobi Region of Mongolia. SouthGobi produces and sells coal to customers in China.

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