Fortune Oil Buys More Shares in China Gas

February 27, 2012

Fortune Oil confirmed that China Gas Group Limited, its Joint Venture with Mr. LIU Minghui, and Fortune Max Holdings Limited have together purchased 25,142,000 additional shares in China Gas Holdings Ltd since the announcement made on 17 February.

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 to be an associate of CGG.

As a result of the above purchases, the combined overall holding of the Joint Venture and of Fortune Max in CGH is now 443,940,000 shares, representing 10.13% per cent. of CGH’s issued share capital, Fortune Oil said in a statement.

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LNG World News Staff, February 27, 2012; Image: China Gas Holdings