9 Jan 2012 14:05
9 January 2012
China Private Equity Investments Holdings Limited
("CPEH" or the "Company")
Directorate Change
China Private Equity Investments Holdings Limited (AIM: CPEH) announces that Duncan Chui, Chief Executive Officer of the Company, has today stepped down from the Board. Recently, Mr Chui has spent significant time working with the Company's principal investee company, Fortel BVI ("Fortel") and Mr Chui and the Board believe that it is important that he devotes all his energies in the coming months on achieving a successful IPO for Fortel. In this regard Mr Chui will continue in his role as Chief Investment Officer of the Company.
Fortel is a digital media and technology services company operating primarily in China, and accounts for the main component of the Company's net asset value. The Company holds a 33.6% equity interest in Fortel which continues to perform well and plans to file its listing application in Hong Kong in 2012.
John Croft, currently a Non-executive Director of the Company, has been appointed as Interim Chief Executive.
Patrick Macdougall, Chairman of CPEH, said: '' Duncan's new role reflects the main current priority of the Company which is to deliver value to shareholders through its key investment, Fortel, and the Board looks forward to his continued contribution in developing CPEH's business''
For further information, please visit www.cpe-invest.com or contact:
China Private Equity Investments Holdings Limited Maria Leung, Corporate Communications Manager | +852 2801 6770 |
Shore Capital and Corporate Limited (Nominated Adviser) Bidhi Bhoma / Stephane Auton | +44 (0)20 7408 4090 |
Tavistock / First City Public Relations Allan Piper Simon Hudson |
+852 2854 2666 +44 (0)20 7920 3150 |