on SouthGobi Resources Ltd. (HKG:1878)
SouthGobi Resources Ltd. Announces Assignment of Payment-In-Kind Interest
On July 12, 2026, SouthGobi Resources Ltd. announced that JD Zhixing Fund L.P., its largest shareholder, has assigned US$19 million of payment-in-kind interest under a US$250 million Convertible Debenture to Od Sar Trading Co. Limited. This interest is due on August 31, 2027, as specified in a deferral agreement from March 2026. The terms remain unchanged.
The assignee has the discretion to convert this interest into common shares of the company, based on the 50-day volume-weighted average price of the shares. The potential conversion could grant Od Sar Trading Co. Limited a substantial share percentage, dependent on the exchange rate and market price as of the payment date.
SouthGobi has emphasized caution for shareholders and investors, stating that a detailed announcement will follow regarding this prospective issuance.
R. E.
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