Watch LIVE the focusIR May Investor webinar with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksFFWD.L Regulatory News (FFWD)

  • There is currently no data for FFWD

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Investee Companies Updates

12 Jun 2008 07:00

RNS Number : 5242W
London Asia Chinese Private Equity
12 June 2008
 



London Asia Chinese Private Equity Fund Limited

("LACPEF" or "the Fund")

Investee Companies Updates

LACPEF, the AIM traded (code LCP), China focused investment fund, is delighted to announce updates from its two Singapore listed water investee companies, United Envirotech Ltd ("UE" or "the Company") and Asia Water Technology Ltd ("Asia Water" or "the Group").

United Envirotech - New Finance Raised

The Board of Directors of UE recently announced that it had entered into subscription agreements with Novena Holdings Ltd ("NHL") and Oei Hong Leong Foundation (Pte) Ltd ("OHLF") in relation to a proposed subscription of an aggregate 66.3 million new ordinary shares in the capital of the company.  

The gross proceeds from the allotment and issue of all new shares is approximately S$13.9 million (£5.2 million). The purpose of the subscription is to raise funds for further investment in Build-Operate-Transfer ("BOT"), Transfer-Operate-Transfer (TOT) and Build-Own-Operate (BOO) projects.

Under the subscription agreements NHL and OHLF will subscribe for 49.7m and 16.6m new shares respectively, at an issue price of S$0.21 per share, representing approximately 12.5% and 4.2% of the total number of issued ordinary shares in the capital following completion of the subscription. NHL shall on completion of its subscription of the New Shares be entitled to nominate Mr Toh Soon Huat as a non-executive of the Company.

Asia Water - New Contract Win

Asia Water announced that it has secured a contract worth approximately RMB153 million (£11.2 million) to upgrade an existing wastewater treatment facility in Huangshi CityHubei Province, China. Under the BOT contract, Asia Water will manage the 125,000 tonnes per day capacity site for 27 years, including the construction phase. The upgrade will ensure that the site attains treatment standard Grade 1B, satisfying new requirements introduced by the Chinese Government.

Simon Littlewood, Fund Director, said: "The market value of our two Singapore listed water investments currently totals £10.3 million, a decline of £4.0 million, or 8.0p per share, from the value at 30 September 2007, when the Fund reported net assets of £68.4 million, equal to 136.7p per share. Whilst in the last several months the share prices of our water investments have been hit by the credit crunch, which has made raising debt for their BOT, TOT and BOO projects much harder and more expensive, this is a short term phenomenon and we are very comfortable with the opportunities in the sector, and the ability of the businesses to continue to win projects and raise finance, as they continue to demonstrate."

"The Fund's portfolio is heavily skewed towards clean technology investments, which reduces the impact of high fossil fuel costs, deteriorating economic conditions worldwide and the impact of one-off events such as the recent Sichuan Earthquake. Investments such as PLUS listed China CDM Exchange recently reported record profits, as China's clean technology sector expands to meet the challenges of rising pollution and fossil fuel prices."

For further information please visit www.lacpefund.com, or contact:

John West/Andrew Dunn

Tavistock Communications

Tel: 020 7920 3150

Cecilia Wong

London Asia Ltd.

Tel: +852 2251 8373

cecilia.wong@londonasia.com

Hugh Field

Collins Stewart Europe Ltd

Tel: 020 7523 8000

About Asia Water Technology Ltd

Singapore stock market listed AWT provides total engineering solutions for water purification and wastewater treatment systems. Its business is primarily conducted through its subsidiary in China, which owns its own patented core technologies and works closely with leading technology partners in the international and local water treatment arena. For more information on the company, please visit: www.asiawatertech.com.

About United Envirotech Ltd

Singapore main board listed United Envirotech Ltd, specializing in water treatment and reclamation using advanced membrane technologies, provides environmental engineering solutions to a wide range of customers in the chemical, petrochemical, pharmaceutical, and wastewater treatment industries. For more information on the company, please visit: www.unitedenvirotech.com.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCQFLFFVQBXBBD
Date   Source Headline
23rd Jul 20187:00 amRNSAgreement
19th Jul 201812:40 pmRNSFurther investment in Intensity Therapeutics Inc.
9th Jul 201811:17 amRNSIncreased holding in Fralis LLC (Leap Gaming)
6th Jul 20185:44 pmRNSResults for the year ended 31st March 2018
22nd Jun 20182:30 pmRNSInvestment in Vogogo Inc. Conv. Debenture Units
20th Jun 20186:20 pmRNSInvestee Company Update
19th Jun 20187:00 amRNSInvestment in Juvenescence Limited
12th Jun 20187:00 amRNSInvestee Company Update: Subscription into Fralis
11th Jun 20189:53 amRNSSale of Aphria Shares
16th May 20187:00 amRNSRegulatory Approval
23rd Mar 20183:35 pmRNSInvestee Company Update: Nuuvera Inc.
21st Mar 20181:28 pmRNSInvestee Company Update: Nuuvera
12th Mar 20181:00 pmRNSKey Investor Document
7th Mar 20182:34 pmRNSDirector/PDMR Shareholding
7th Mar 20187:00 amRNSProposed Director's Dealing
27th Feb 20183:43 pmRNSInvestee Company Update: Intensity Therapeutics
26th Feb 20184:01 pmRNSInvestee Company Update: Nuuvera
20th Feb 20183:26 pmRNSInvestee Company Update: Nuuvera
13th Feb 201812:22 pmRNSDirector Appointment
13th Feb 201812:05 pmRNSResult of AGM
12th Feb 20184:51 pmRNSTransaction in Own Shares
6th Feb 20189:37 amRNSCorrection of Notice of AGM
2nd Feb 20189:35 amRNSInvestee Company Update: Vemo
31st Jan 201811:04 amRNSTransaction in Own Shares
30th Jan 20185:00 pmRNSNotice of AGM
30th Jan 20184:20 pmRNSNotice of AGM
30th Jan 20188:35 amRNSHolding(s) in Company
29th Jan 20181:33 pmRNSInvestee Company Update: Nuuvera
23rd Jan 20182:43 pmRNSExtension of Share Buy-back Programme
23rd Jan 20181:19 pmRNSTransaction in Own Shares
18th Jan 20183:18 pmRNSInvestment Company Updates: Nuuvera
16th Jan 20183:36 pmRNSInvestee Company Update: Nuuvera
12th Jan 20183:43 pmRNSInvestee Company Update: Nuuvera
12th Jan 20182:23 pmRNSInvestee Company Update: Nuuvera
11th Jan 20188:00 amRNSInvestee Company Update: Nuuvera
8th Jan 20187:00 amRNSInvestee Company Update: Nuuvera
2nd Jan 201811:26 amRNSInvestee Company update: Nuuverra transaction
28th Dec 20173:29 pmRNSHalf-year Report
15th Dec 20179:23 amRNSCompany Secretary Change
15th Dec 20177:00 amRNSInvestee Company Update: Nuuvera
29th Nov 20174:14 pmRNSTransaction in Own Shares
29th Nov 20177:00 amRNSHolding(s) in Company
28th Nov 20174:06 pmRNSTransaction in Own Shares
23rd Nov 201710:12 amRNSHolding(s) in Company
20th Nov 201710:30 amRNSShare Buy-Back Programme
20th Nov 20179:56 amRNSMarket Update
3rd Nov 201712:00 pmRNSInvestee Company Update
9th Oct 20177:00 amRNSUpdate on Nuuverra Investment
18th Sep 20177:00 amRNSDisposal of interest in investee company
15th Aug 20177:00 amRNSInvestee Company Update: Schoold

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.