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7 Aug 2009 17:17
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7Β August 2009
GREEN DRAGON GAS LTD.
("Green Dragon" or the "Company")
ConvertibleΒ note
Green Dragon Gas Ltd. (AIM:Β GDG), the vertically integratedΒ ChineseΒ gas business, announcesΒ thatΒ it has agreed aΒ furtherΒ extension of theΒ put option date with the holder of aΒ convertibleΒ noteΒ in the Company. As set out in theΒ Company's recently published annual report, the Company had agreed to repay the noteholder the remaining outstanding principal and interest of US$10.6 million on 3 August 2009. The Company hasΒ nowΒ agreed with theΒ noteholder thatΒ the convertible note will be repaidΒ in fullΒ onΒ 1Β SeptemberΒ 2009Β in an amount of US$11.1 million,Β plusΒ accrued interest, and that the noteholder will be paid a fee and will be provided with security over certain of the Company's assets.
For further informationΒ on the Company and its activities, pleaseΒ refer to the website atΒ www.greendragongas.comΒ orΒ contact:
|
Randeep S. Grewal /Β Stephen Hill Green Dragon Gas Β |
+852 3710 0168 |
|
Dr Azhic Basirov /Β David Jones Nomad & Broker, Smith & Williamson Β |
+44 20 7131 4000 |
|
Tim Redfern Broker, Evolution Securities Β |
+44 20 7071 4300 |
|
Tim Thompson / Christian Goodbody Investor Relations, Buchanan |
+44 20 7466 5000 |
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