Release of cash pledge (0121O)

TIDMJSM

RNS Number : 0121O

JSM Indochina Ltd

12 September 2011

JSM Indochina Ltd.

12 September 2011

Release of cash pledge

Further to its announcement of 15 August 2011, the Board of JSM Indochina Ltd. ("JSM" or the "Company") (AIM: JSM.L), is pleased to announce that they have completed the registration of the transfer of the shares in QSpace to Trinity Structure and Finance Ltd.'s shareholders.

All amounts outstanding under QSpace's loan facility with United Overseas Bank have been repaid. A net amount of $11.6m has been released to JSM from the cash pledge previously held with United Overseas Bank after repayment of the United Overseas Bank loan facility. After payment of transaction related expenses, a net amount of $10.6 million has been received by JSM, before monies to be set aside in JSM Indochina Properties Limited for the Trinity transaction.

Scott Verges, Chairman of JSM Indochina Ltd. commented:

"We are very pleased to announce the transfer of the shares in QSpace, the repayment of the loan facility and the release of the cash pledge. We will provide an update on a return of capital in due course."

For further information:

 
 JSM Indochina Ltd.              +1 415 400 2461 
=============================  ================= 
 Scott Verges, Chairman 
=============================  ================= 
 
 Panmure Gordon (UK) Limited    +44 20 7459 3600 
=============================  ================= 
 Andrew Potts 
=============================  ================= 
 
 Buchanan Communications        +44 20 7466 5000 
=============================  ================= 
 Lisa Baderoon 
=============================  =================

This information is provided by RNS

The company news service from the London Stock Exchange

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