Last checked at 23 Apr 2010 07:00
23 April 2010
GREEN DRAGON GAS LTD
("Green Dragon" or "the Company")
Notice of Annual General Meeting
Posting of Annual Accounts
Change of Registered Office
Green Dragon Gas Ltd. (AIM:GDG), the Chinese vertically integrated gas business, announces that that the Annual General Meeting of the shareholders of the Company will be held at the office of Smith & Williamson located at 25 Moorgate, London EC2R 6AY on 17 May 2010 at 10 a.m.
In addition to the ordinary business to be considered at the AGM, there are two additional ordinary resolutions: one is to approve the appointment of a new non-executive director, David Eastlake, and the other is to approve the proposed subdivision of each existing ordinary share of US$0.0001 each into 10 new ordinary shares of US$0.00001 each.
David Eastlake has 25 years of experience in finance and banking. He worked at Price Waterhouse in London from 1985 to 1992 and in Hong Kong from 1992 to 1997. He then joined First Pacific Company in Hong Kong in 1997 as Group Treasurer and was appointed as director in 1999. Whilst at First Pacific, he was on the boards of several group companies, including Savills Plc and Berli Jucker Public Co. Ltd. In 2001, he moved to ING Bank NV in Hong Kong as Head of M&A Asia and then transferred to Dubai in 2007 as Head of Clients & Corporate Finance Middle East. He left ING in December 2009 to return to Hong Kong. Mr. Eastlake has a BA in Economics from the University of Exeter and is a qualified accountant with membership of both the ICAEW and HKICPA.
In addition, the Company is proposing to subdivide its ordinary shares on a 10-for-1 basis. The Company believes that this will improve the marketability and liquidity of its shares for the benefit of all shareholders. The new ordinary shares will have the same rights as the existing ordinary shares. The proposed subdivision is subject to final approval of the Board.
The Company's Annual Report and Accounts for the year ended 31 December 2009, together with the Notice of the Annual General Meeting, have been posted to shareholders today, and are available on the Company's website.
The registered office of the Company will be transferred to be maintained at the offices of the Company's Cayman Islands counsel, Thorp Alberga, c/o International Corporation Services Ltd., PO Box 472, Harbour Place 2nd Floor, 103 South Church Street, George Town, Grand Cayman KY1-1106, Cayman Islands, such transfer to take effect on 26 April 2010.
For further information on the Company and its activities, please refer to the website at www.greendragongas.com or contact:
| Stephen Hill / Betty Cheung: Green Dragon Gas
| +852 3710 0168 |
| Dr Azhic Basirov/ David Jones: Nominated Adviser & Broker / Smith & Williamson Corporate Finance Limited
| +44 20 7131 4000 |
| Tim Redfern: Broker / Evolution Securities
| +44 20 7071 4300 |
| Nick Morgan: Broker / GMP Securities Ltd
| +44 20 7647 8455 |
| James Henderson: Investor Relations / Pelham Bell Pottinger | +44 20 7337 1500 |
About Green Dragon Gas:
The largest independent Coal Bed Methane company in China with a range of high quality assets
Independently Audited 3P Reserves by Netherland Sewell and Associates of 2.3TCF with a net present value of US$ 9.3bn as at December 31 2009.
Six Production Sharing Contracts located across Shanxi, Anhui, Jiangxi and Guizhou provinces. ConocoPhillips has a farm in option for the production sharing contracts in Shanxi province
The Company has a fast growing gas distribution network Network in Beijing and in Shandong, Henan and Anhui provinces