23 Mar 2012 11:11
23 March 2012
FORTUNE OIL PLC
("Fortune Oil" or the "Company")
Strategic investment : Purchase of additional China Gas shares
Fortune Oil (LSE: FTO.L) focuses on oil, natural gas and resource supply operations and investments, primarily in China. Fortune Oil is listed on the Main Market of the London Stock Exchange.
Fortune Oil confirms that Fortune Max Holdings Limited ("Fortune Max") has purchased 3,750,000 additional shares in China Gas Holdings Ltd ("CGH"; 0384.HK) since the announcement made on 9 March 2012.
Fortune Max is a private company controlled and beneficially owned by Mr Daniel Chiu, a director and substantial shareholder in Fortune Oil. Fortune Max is therefore deemed for the purposes of the Hong Kong Code on Takeovers and Mergers ("the Code") to be an associate of China Gas Group Limited ('CGG"), the Joint Venture between Fortune Oil and Mr LIU Minghui.
As a result of the above purchases, the combined overall holding of the Joint Venture and of Fortune Max in CGH is 464,280,000 shares, representing 10.59 per cent.of CGH's issued share capital.
Fortune Oil is obliged under Hong Kong Takeover Code Rules to publicly file details of all dealings through the Joint Venture and Fortune Max in the shares of CGH before 10 am on the next dealing day. Copies of these filings are publicly available at
http://www.sfc.hk/sfcDealingDisclosure/EN/sfcDealingDisclosureServlet?ACT=CL
Fortune Oil will announce in London the total amounts acquired on a regular basis or where in a single day the current holding by the Joint Venture and Fortune Max has materially changed.
For further details:
Fortune Oil PLC Tee Kiam Poon - Chief Executive Bill Mok - Chief Financial Officer |
Tel: 00 852 2583 3125 Tel: 00 852 2583 3120
|
Pelham Bell Pottinger Archie Berens Zoe Sanders | Tel: 020 7861 3112 / 07802 442486
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Background on Fortune Oil
Fortune Oil is a leading independent energy company engaged in the investment and operations of oil and natural gas supply projects in China. With almost 20 years of operating history in China, Fortune Oil has acquired a unique portfolio of high quality oil and natural gas projects across the country and has formed a strong partnership with domestic and international market leaders. Fortune Oil recently started an expansion outside China securing resource projects. Fortune Oil is listed on the Main Market of the London Stock Exchange with its operational headquarters in Hong Kong.