SINGAPORE, Dec. 1, 2012 /CNW Telbec/ - The Richard Chandler Corporation ("RCC") announced today that Jasmine Capital Investments Pte Limited ("Jasmine") has acquired 62,670,000 common shares (the "Acquired Shares") of WesternZagros Resources Ltd. ("WesternZagros"), which represents approximately 15.21% of the issued and outstanding common shares of WesternZagros.  The Acquired Shares were acquired through the facilities of the TSX Venture Exchange at a price of C$1.18 per common share.

As a result of this acquisition and pursuant to applicable Canadian securities laws, each of Richard Chandler Holdings ("RCH"), RCH's sole shareholder, Athena Holdings Limited (in its capacity as trustee of the Richard Chandler Capital Trust, a discretionary trust) and RCH's direct wholly-owned subsidiary, Richard Chandler Pte Limited (which owns the common shares of Jasmine), is deemed to beneficially own the Acquired Shares.

The Acquired Shares are held for investment purposes. Jasmine, RCH, Richard Chandler Pte Limited and Athena Holdings Limited (in its capacity as trustee of the Richard Chandler Capital Trust, a discretionary trust) may, from time to time and at any time, subject to applicable securities laws, acquire additional common shares of WesternZagros and/or other equity, debt or other securities or instruments (collectively, "Securities") of WesternZagros in the open market or otherwise may dispose of any or all of its Securities in the open market or otherwise, at any time and from time to time, and engage in any hedging or similar transactions with respect to the Securities, in each case subject to applicable securities laws.

About the Richard Chandler Corporation

The Richard Chandler Corporation is an international business group founded by New Zealand-born entrepreneur Richard F. Chandler. The Richard Chandler Corporation builds and operates businesses in energy, consumer and financials, healthcare, and education, with operations in Asia and the Pacific, Africa, the Americas, Europe, and the Middle East. The Corporation's vision of Building Great Companies and Great Nations reflects its belief in the power of business to drive national prosperity. In all its work, the Corporation places a special emphasis on good corporate governance as a crucial element of business sustainability and increasing stakeholder value. More information about the Richard Chandler Corporation is available on its website at www.richardchandler.com.

A copy of the report prepared in connection with the matters disclosed herein in accordance with applicable Canadian securities laws will be available at www.sedar.com.

SOURCE Richard Chandler Corporation