LIQUIDATION OF PEGASUS BULLION LIMI

LIQUIDATION OF PEGASUS BULLION LIMITED
2015-01-07

VOLUNTARY ANNOUNCEMENT
LIQUIDATION OF PEGASUS BULLION LIMITED AND ASSOCIATED SUBSIDIARIES

This is a voluntary announcement made by Pegasus Bullion Limited ("the Company").

The Company would like to announce that as of 4 January 2015, all remaining assets of the company is now in the process of forced liquidation, leading on to dissolution.

REASONS FOR FORCED LIQUIDATION

Gold prices have fallen significantly and have affected market demand. The environment has not been sustainable for business to continue in the last quarter of 2014, and the Company does not expect to have new business to continue to be run in existing markets.

FURTHER INFORMATION IN RELATION TO THE EFFECT OF LIQUIDATION

The Company does not have further information regarding the amount liquidated and the amount of liabilities that have to be written off as a result of this process. The process is expected to be a lengthy one, given the cross border nature of the business.