In an exclusive interview with London South East, Executive Chairman of G3 Exploration Randeep Grewal discusses his strategy for the China-based coal bed methane gas group, confirms details of a Dividend in Specie for the production assets and gives us an insight into the sales process.
G3 Exploration shareholders as of 29 March 2019 will receive a direct interest in Green Dragon Gas's producing assets. The Dividend in Specie represents 100% of the commercial producing assets and G3 Exploration will retain all its exploration and development assets.
Shareholders include many well known institutions, and going forward G3E is looking to expand its shareholder base and welcomes retail holders to the group. This is the third Dividend in Specie which has been distributed, and going forwards the intention is to develop and monetize each block individually and to distribute the profits via a dividend.