595eb9a8-9cb2-401e-9320-61b05df3c439.pdf
29 March 2016
CAULDRON RECOVERS JUDGMENT DEBT
HIGHLIGHT
As announced by Cauldron Energy Limited (ASX:CXU) (Cauldron or the Company) on 29 January 2016, Cauldron received judgment in its favour in respect of its claim against the Joseph Parties and Guangzhou City Guangrong Investment Management Co. Ltd (Guangzhou City).
The Company issued a statutory demand to Joseph Investment International Limited, a company incorporated in the British Virgin Islands, demanding payment of $2 million plus interest, damages and costs, by 24 March 2016.
On 24 March 2016, Cauldron reached an agreement whereby payment of interest, damages and costs in the amount of $530,539.32 was made by the Joseph Parties and the remaining $2 million was paid by a third party, MGT Resources Limited (ASX:MGS), in exchange for the shares which were to be issued to the Joseph Parties. This is 100% of the amount owed by the Joseph Parties. Cauldron would like to take this opportunity to welcome MGT Resources Limited as Cauldron's newest investor.
The remaining $1 million plus interest is due and payable by Guangzhou City. A holding lock is currently in place over shares owned by Guangzhou City. The Company is enforcing payment of the judgment debt in accordance with the powers under the Civil Judgments Enforcement Act.
Yours faithfully Cauldron Energy Ltd
Tony Sage
Executive Chairman
ABN 22 102 912 783
32 Harrogate Street, West Leederville WA 6007
PO Box 1385, West Leederville WA 6901
ASX code: CXU 271,053,444 shares
24,000,000 unlisted options
Board of Directors
Tony Sage Executive Chairman
Qiu Derong
Non-executive Director
Judy Li
Non-executive Director
Mark Gwynne
Non-executive Director
Catherine Grant Company Secretary
32 Harrogate Street, West Leederville WA 6007 Ph: (+618) 9380 9555 Fax: (+618) 9380 9666 PO Box 1385, West Leederville WA 6901 Web: www.cauldronenergy.com.au