Fortune Oil said that Fortune Max Holdings has purchased 12,938,000 additional shares in China Gas Holdings.
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 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 608,628,000 shares, representing 13.89 per cent. of CGH’s issued share capital.
[mappress] LNG World News Staff, June 1, 2012; Image: China Gas