Fortune Oil plc : Strategic investment : Purchase of additional China Gas shares
04/13/2012| 09:45am US/Eastern
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13 April 2012
FORTUNE OIL PLC
("Fortune Oil" or the "Company")
Strategic investment : Purchase of additional China Gas
shares
Fortune Oil (LSE: FTO.L) focuses on oil, natural gas and
resource supply operations and investments, primarily in
China. Fortune Oil is listed on the Main Market of the London
Stock Exchange.
Fortune Oil confirms that Fortune Max Holdings Limited
("Fortune Max") has purchased
27,182,000 additional shares in China Gas Holdings Ltd
("CGH"; 0384.HK) since the announcement made on 23
March 2012.
Fortune Max is a private company controlled and beneficially
owned by Mr Daniel Chiu, a director and substantial
shareholder in Fortune Oil. Fortune Max is therefore deemed
for the purposes of the Hong Kong Code on Takeovers and
Mergers ("the Code") to be an associate of China Gas Group
Limited ('CGG"), the Joint Venture between Fortune Oil and Mr
LIU Minghui.
As a result of the above purchases, the combined overall
holding of the Joint Venture and of Fortune Max in CGH is
491,462,000 shares, representing 11.21 per cent. of CGH's
issued share capital.
Fortune Oil is obliged under Hong Kong Takeover Code Rules to
publicly file details of all dealings through the Joint
Venture and Fortune Max in the shares of CGH before 10 am on
the next dealing day. Copies of these filings are publicly
available at
http://www.sfc.hk/sfcDealingDisclosure/EN/sfcDealingDisclosureServlet?ACT=CL
Fortune Oil will announce in London the total amounts
acquired on a regular basis or where in a single day the
current holding by the Joint Venture and Fortune Max has
materially changed.
For further details:
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Fortune Oil PLC
Tee Kiam Poon - Chief Executive
Bill Mok - Chief Financial Officer
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Tel: 00 852 2583 3125
Tel: 00 852 2583 3120
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Pelham Bell Pottinger
Archie Berens
Zoe Sanders
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Tel: 020 7861 3112 / 07802 442486
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Background on Fortune Oil
Fortune Oil is a leading independent energy company engaged
in the investment and operations of oil and natural gas
supply projects in China. With almost 20 years of operating
history in China, Fortune Oil has acquired a unique portfolio
of high quality oil and natural gas projects across the
country and has formed a strong partnership with domestic and
international market leaders. Fortune Oil recently started an
expansion outside China securing resource projects. Fortune
Oil is listed on the Main Market of the London Stock Exchange
with its operational headquarters in Hong Kong.
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