22 Nov 2011 07:00
22 November 2011
Great Eastern Energy Corporation Limited
("Great Eastern" or "the Company")
Director's Dealing
Further to the announcement yesterday, Great Eastern Energy Corporation Limited (LSE: GEEC), the fully integrated, leading Indian Coal Bed Methane (CBM) company,announces the sale of 3 million Global Depository Receipts ("GDRs") at 310 pence per GDR held by YKM Holdings International Limited ("YKMHIL") ("the Sale"). Each GDR represents 0.5 ordinary unlisted share of INR10 each in the capital of the Company.
Following such sale of GDRs, Mr. Yogendra Kr. Modi and Mr. Prashant Modi, have a beneficial family interest of 67,528,040 GDR in the Company, representing approximately 58.15% of the total issued share capital of the Company.
The Company anticipates making a further announcement as to the resulting beneficial family interest of Mr. Yogendra Kr. Modi and Mr. Prashant Modi on completion of the rights issue of new ordinary unlisted shares of the Company which was announced yesterday (the "Rights Issue"). The Rights Issue is being underwritten by YKMHIL, its subsidiaries and associated companies.
Enquiries:
Great Eastern Energy | ||
Yogendra Kr. Modi | Chairman & CEO | +44 (0)20 7337 1516 |
Prashant Modi | President & COO | |
Arden Partners plc | ||
Richard Day | +44 (0)20 7614 5917 | |
Adrian Trimmings | ||
M: Communications | ||
Ann-marie Wilkinson | +44 (0) 20 7920 2330 | |
Patrick D'Ancona |