主题：再谈中航油 - 兼答酋长 -- 禅人

下文是中航油11月30日公告的节选，从中可以了解，淡马锡参与拯救计划只是一个初步的原则性意向，最终能不能、愿不愿参与进来，还得取决于(b)和(c)中的许多先决条件，而这些问题的解决过程涉及太多的他方，存在太多的变数，所以淡马锡是否会成为白马武士，现在还真不好说。

Participation in proposed restructuring efforts of the Company by CAOHC and Temasek Holdings (Private) Limited (“Temasek”)

In addition, the Company has been informed that CAOHC has approached Temasek to seek Temasek’s participation in the proposed restructuring of the Company that would be needed for the Company to remain viable in the future. Temasek currently has a deemed indirect stake of less than 2% in the Company, and is not aware of any other material interests in the Company, nor is it aware of any existing material contracts or business arrangements with the Company or CAOHC. Temasek does not have any stake in CAOHC.

Temasek has expressed an indicative interest in exploring a participation as an investor in the Company’s restructuring efforts, and which participation currently contemplates the following:-

(a) CAOHC and Temasek would, in aggregate, inject funds up to US$100 million (currently expected to be in equal proportions, that is to say, US$50 million each) into the Company as part of its restructuring. It is the intention that CAOHC and Temasek will hold (in the aggregate) a majority stake in the restructured Company; and

(b) The injection of funds would be on the basis of (i) satisfactory resolution of all issues relating to the Company, (ii) the scheme of arrangement (including the settlement of outstanding and/or contingent claims against the Company) being approved, sanctioned and implemented in accordance with section 210 of the Singapore Companies Act, and

(c) The other terms and conditions (including the obtaining of relevant approvals/waivers) in connection with the injunction, all being commercially acceptable to Temasek.

It should be noted that pending the finalisation of discussions between the Company, CAOHC and Temasek, and entry into formal legal documentation relating to the proposed restructuring, CAOHC and Temasek would have no binding obligations to proceed with the restructuring of and the investment in the Company. The Company is continuing to pursue active discussions with CAOHC and Temasek in relating to the terms of the proposed restructuring and investment, and will make the appropriate announcements as developments take place.