1 Dec 2015 10:36
1 December 2015
China New Energy Limited
("CNE" or "the Company")
Movement in Share Price
The Company notes the recent movement in the share price and confirms that there have been no further developments in respect of the non-binding MOU with Sunbird Bioenergy Africa Limited ("the MOU").
As previously advised, the Company expects to sign the MOU in December 2015 for the design and construction of a 120 million litre cassava to bioethanol plant in the Machonaland Central Province of Zimbabwe. Signing of the MOU is subject to concluding discussions with the project partners and, should the MOU be signed, it remains the intention of Sunbird Bioenergy Africa Limited and CNE to complete the project design by February 2016. The project will require an environmental impact assessment and formal agreement to commence construction will be conditional upon financial closure for the project. The plant is expected to be commissioned in late 2017.
The Company will update the market further in due course.
For further information, please visit www.chinanewenergy.co.uk or contact:
China New Energy Limited | www.chinanewenergy.co.uk |
Richard Bennett | Tel: +44 (0)20 7148 3148 or rbennett@zkty.com.cn |
Ivy Xu | Tel: +86 (0)20 8705 9371 or xuhj@zkty.com.cn |
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Cairn Financial Advisers LLP (NOMAD) | Tel: +44 20 7148 7900 |
Jo Turner / Liam Murray |
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Daniel Stewart and Co (Broker) | Tel: +44 20 7776 6550 |
Martin Lampshire / David Coffman |
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