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Announcements

Sunshine Oilsands Ltd. is committed to providing our investors and the public with timely and accurate information regarding our business and operating activies.
March 24, 2012

Stabilization actions and end of stabilization period

The Company announces that the stabilization period in connection with the Global Offering ended on 24 March 2012.

The stabilization actions undertaken during the stabilization period were:

  1. over-allocations of an aggregate of 23,205,000 Shares in the International Offering, representing approximately 2.51% of the total number of Offer Shares initially available under the Global Offering before any exercise of the Over-Allotment Option;
  2. the borrowing of an aggregate of 23,205,000 Shares from Orient pursuant to the Stock Borrowing Agreement solely to cover over-allocations in the International Offering; and
  3. the purchase of an aggregate of 23,205,000 Shares in the price range of HK$4.69 to HK$4.75 per Share on the market (excluding brokerage, SFC transaction levy and Stock Exchange trading fee).

End of stabilization period
The Company makes this announcement pursuant to section 9(2) of the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong) and announces that the stabilization period in connection with the Global Offering ended on 24 March 2012, being the 30th day after the last day for the lodging of applications under the Hong Kong Public Offer.

Stabilization
The stabilization actions undertaken during the stabilization period were:

  1. (1) over-allocations of an aggregate of 23,205,000 Shares in the International Offering, representing approximately 2.51% of the total number of Offer Shares initially available under the Global Offering before any exercise of the Over-Allotment Option;
  2. the borrowing of an aggregate of 23,205,000 Shares from Orient pursuant to the stock borrowing agreement dated 24 February 2012 entered into between Orient and the Stabilising Manager (the "Stock Borrowing Agreement") solely to cover over-allocations in the International Offering. Such Shares will be returned and redelivered to Orient in accordance with the terms of the Stock Borrowing Agreement; and
  3. the purchase of an aggregate of 23,205,000 Shares in the price range of HK$4.69 to HK$4.75 per Share on the market (excluding brokerage, SFC transaction levy and Stock Exchange trading fee).

The last purchase made on the market during the course of the stabilization period was on 2 March 2012 at the price of HK$4.69 per Share.

No Over-Allotment Option has been exercised and the Over-Allotment Option lapsed on 24 March 2012.

By Order of the Board
Sunshine Oilsands Ltd.
Mr. Michael John Hibberd
Co-Chairman

 

As of the date of this announcement, the executive Directors are Mr. Michael John Hibberd and Mr. Songning Shen, the non-executive Directors are Mr. Hokming Tseung, Mr. Tingan Liu, Mr. Haotian Li and Mr. Gregory George Turnbull and the independent non-executive Directors are Mr. Raymond Shengti Fong, Mr. Robert John Herdman, Mr. Wazir Chand Seth and Mr. Gerald Franklin Stevenson.

* For identification purposes only

 

Hong Kong Exchange and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.Unless otherwise defi ned in this announcement, terms defined in the prospectus dated 20 February 2012 (the "Prospectus") issued by Sunshine Oilsands Ltd. (the "Company") have the same meanings when used in this announcement.

This announcement is for information purposes only and does not constitute an invitation or offer by any person to acquire, purchase or subscribe for securities. This announcement is not, and is not intended to be, an offer of securities of the Company for sale in the United States or in Canada. Securities of the Company may not be offered or sold in the United States without registration or an exemption from registration under the United States Securities Act of 1933, as amended. There is not and is not currently intended to be any public offering of the Company's securities in the United States or in Canada.

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
The Company announces that the stabilization period in connection with the Global Offering
ended on 24 March 2012.
The stabilization actions undertaken during the stabilization period were:
(1) over-allocations of an aggregate of 23,205,000 Shares in the International Offering,
representing approximately 2.51% of the total number of Offer Shares initially available
under the Global Offering before any exercise of the Over-Allotment Option;
(2) the borrowing of an aggregate of 23,205,000 Shares from Orient pursuant to the Stock
Borrowing Agreement solely to cover over-allocations in the International Offering; and
(3) the purchase of an aggregate of 23,205,000 Shares in the price range of HK$4.69 to HK$4.75
per Share on the market (excluding brokerage, SFC transaction levy and Stock Exchange
trading fee).