China Forestry Holdings Co., Ltd. Announces Termination of Tender Offer for its Senior Notes

HONG KONG, Dec. 24, 2014 /PRNewswire/ -- China Forestry Holdings Co., Ltd. announced today that it has terminated its previously announced cash tender offer (the "Tender Offer") for all of its outstanding 10.25% Senior Notes due 2015 (the "Notes"). The Tender Offer was subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Stated, dated November 22, 2013, as amended (the "Offer to Purchase"). These conditions included, among others, a financing condition and the condition that the Company obtain valid tenders of at least 80% in principal amount of outstanding Notes (excluding Notes held by the Company) which are not withdrawn on or before the Expiration Date.  As of December 23, 2014, Notes had been validly tendered and not validly withdrawn with an aggregate purchase price of $60,509,000, representing approximately 39% of the principal amount of the outstanding Notes (excluding Notes held by the Company).  The Tender Offer is being terminated because the Company has not been able to secure debt financing to repurchase the Notes nor obtain valid offers of at least 80% in principal amount of outstanding Notes.  As a result of the termination, none of the Notes that have been tendered in the Tender Offer will be accepted for purchase and no consideration will be paid or become payable to holders of Notes who have tendered their Notes in the Tender Offer. All Notes previously tendered and not withdrawn will be promptly returned or credited back to their respective holders.

This press release confirms the formal termination of the Tender Offer. The Company reserves the right to initiate a new tender offer at a later date, but it is under no obligation to do so. Holders of Notes with questions regarding the termination of the Tender Offer may direct such questions to Bondholder Communications Group, LLC at (212) 809-2663 in the United States or +44 (0) 20 7382 4580 in London.

This press release does not constitute an offer to purchase securities or a solicitation of an offer to sell any securities or an offer to sell or the solicitation of an offer to purchase any securities, nor does it constitute an offer or solicitation in any jurisdiction in which such offer or solicitation is unlawful. 

About China Forestry Holdings Co., Ltd.

China Forestry Holdings Co., Ltd., together with its subsidiaries (the "Group"), has operations in the People's Republic of China focused on forest resources and timber log processing. The Group has grown to become one of the key players in China's forestry industry.  Its principal business comprises sustainable upstream forest management and the harvesting and sale of high-quality timber logs to meet rising demand in the domestic market in China. For more information, visit www.chinaforestryholding.com.

Forward-Looking Statements

Certain information contained in this press release constitutes forward-looking statements, including the statements regarding the right to initiate a new tender offer and consent solicitation at a later date. These statements relate to future events and can generally be identified by words such as "may," "expects" and "intends." Forward-looking statements are inherently uncertain.  In addition, any forward-looking statements speak only as of the date such statements are made. While the company may elect to update forward-looking statements at some point in the future, the company specifically disclaims any obligation to do so.

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SOURCE China Forestry Holdings Company Limited