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12 Feb 2009 11:29
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China Growth Opportunities Ltd
("CGO")
Portfolio UpdateΒ
Asia Water Technology Limited ("AWT"), in which CGO has a 21% stake, announced yesterday, 11 February 2009, that, following a preliminary review of AWT's performance for the full-year ended 31 December 2008 ("FY2008"), AWT would likely report a net loss for FY2008.Β AWT has said that further details of its performance will be disclosed when it announces its FY2008 unaudited consolidated financial results by 1 March 2009.
The bid price of AWT's shares on theΒ SingaporeΒ stock exchange was S$0.085 as at the close of business on 12Β February 2009, compared to S$0.120 as at 30 September 2008.Β
Further details are available on the AWT website.
In the last weekΒ twoΒ GCO portfolio companies, China Biofoods LimitedΒ (CGO shareholding: 30.8%)Β and Dalian Business Institute LimitedΒ (CGO shareholding:Β 20%),Β announced their intention to withdraw their shares from trading on the PLUS market.Β In correspondence with PLUS Markets Group PLC, the Non-Executive Directors of CGO registered their objection to these planned withdrawals on the basis thatΒ suchΒ developmentsΒ may be potentiallyΒ prejudicialΒ to the interests of shareholders in these companies.
The Directors of CGO are currently reviewing the Company'sΒ investmentΒ portfolio in the context of the Company's new investment objective:Β "The investment objective ofΒ the Company is to manageΒ the sale ofΒ the Company'sΒ investment portfolioΒ and to maximize the return of invested capitalΒ to shareholders during the period ending on 30 September 2010."
Accordingly,Β the Company will,Β from time to time, and in accordance with anyΒ relevantΒ shareholder agreementsΒ orΒ other specific restrictions, consider offers from third-parties in connection with the full or partial disposal of the Company'sΒ individualΒ investments.
For further information, please visit www.chinagrowthopportunities.com, or contact:
|
Hugh FieldΒ Collins Stewart Europe Limited Tel: +44 20 7523 8350 |
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