China Forestry Holdings Co., Ltd. Announces Further Extension of the Expiration Date for its Pending Tender Offer for Any and All of its 10.25% Senior Notes Due 2015 and Related Consent Solicitation

HONG KONG, April 24, 2014 /PRNewswire/ -- China Forestry Holdings Co., Ltd. announced today the further extension of the Expiration Date for its previously announced tender offer to purchase for cash any and all of its outstanding 10.25% Senior Notes due 2015 (the "Notes") and related consent solicitation. The tender offer and consent solicitation are subject to the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement, dated November 22, 2013, as amended (the "Offer to Purchase").

The previously announced Expiration Date for Notes validly tendered pursuant to the tender offer and consent solicitation has been extended to 11:59 p.m., New York City Time, on May 24, 2014 (unless further extended or earlier terminated).  Notes that are validly tendered prior to such time pursuant to the tender offer and consent solicitation and accepted for purchase will be entitled to receive the Tender Offer Consideration. As of 5:00 p.m., New York City Time, on April 23, 2014, $100,344,000 aggregate principal amount of the Notes, representing 64.65% of the outstanding Notes not held by the company, had been tendered. 

The consents received to date, unless withdrawn, are sufficient to approve the proposed amendments to the indenture relating to the Notes, which amendments would eliminate most of the restrictive covenants and certain other related provisions (including certain events of default) of the indenture or make such covenants less restrictive.

Aside from the extension of the Expiration Date, all other terms and conditions of the tender offer and consent solicitation remain unchanged. The Early Consent Deadline expired on December 6, 2013.  Any Notes tendered after the Early Consent Deadline will be entitled to receive only the Tender Offer Consideration.

The tender offer and consent solicitation are conditioned upon the satisfaction of certain conditions, including the company's receipt of funds from one or more financings sufficient to pay the Tender Offer Consideration with respect to the Notes. Subject to applicable law, the company may also terminate the tender offer and consent solicitation at any time before the Expiration Date in its sole discretion.

The information agent and tender agent is Bondholder Communications Group, LLC. Copies of the Offer to Purchase are available by contacting 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 sell or purchase, or the solicitation of an offer to sell or purchase, or the solicitation of tenders or consents with respect to the Notes.

The tender offer and consent solicitation for the Notes are only being made pursuant to the Offer to Purchase that the company has distributed to holders of the Notes. The tender offer and consent solicitation are not being made to holders in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. 

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 timing and settlement of the tender offer and consent solicitation. 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. The success of the tender offer and consent solicitation is subject to a number of conditions, including the financing condition described in the Offer to Purchase, not all of which are within the company's control. 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. 

SOURCE China Forestry Holdings Co., Ltd.