Debt - Change of Terms::Notice to Bond Holders - US$400,000,000 2.50 per cent. Convertible Bonds due 2017

Issuer & Securities

Announcement Title: Debt - Change of Terms
Date &Time of Broadcast: 07-Jul-2015 21:39:05
Status: New
Announcement Sub Title: Notice to Bond Holders - US$400,000,000 2.50 per cent. Convertible Bonds due 2017
Announcement Reference: SG150707OTHRP5ZK
Submitted By (Co./ Ind. Name): Kimberley Lye Chor Mei
Designation: Director, Corporate Secretarial
Description (Please provide a detailed description of the change in the box below): Notice to Bond Holders - US$400,000,000 2.50 per cent. Convertible Bonds due 2017 (the "Bonds")

Repurchase of Bonds

The Board of Directors of Golden Agri-Resources Ltd (the "Company") wishes to announce that the Company has repurchased from the open market US$13 million of the principal amount of the Bonds (the "Repurchased Bonds") which are listed on the Singapore Exchange Securities Trading Limited and maturing on 4 October 2017, for an aggregate cash consideration of approximately US$12.98 million (including accrued interest), which was settled on 7 July 2015.

Following the settlement, the Repurchased Bonds have been cancelled and the outstanding principal amount of the Bonds has been reduced to US$382.6 million.

The Company may conduct further repurchases if conditions are favourable to the Company and in line with its treasury management strategy.

BY ORDER OF THE BOARD
GOLDEN AGRI-RESOURCES LTD

Rafael Buhay Concepcion, Jr.
Director
7 July 2015