FTO Fortune Oil

TIDMFTO

RNS Number : 0539U

Fortune Oil PLC

27 November 2013

27 November 2013

Fortune Oil PLC

("Fortune Oil" or the "Company")

Allotment and Issuance of China Gas Holdings Limited Shares

Pursuant to the Company's announcement headed "Election of China Gas Holdings Limited Shares for Settling the Second Cash Consideration" dated 21 November 2013, Fortune Oil submitted its Share Election Notice to China Gas, requesting that the Second Cash Consideration of USD200,000,000 be satisfied by China Gas allotting and issuing a total of 184,119,463 new shares of China Gas (the "China Gas Shares") to the Company (or any of its subsidiaries).

Fortune Oil is pleased to announce that the listing permission for the China Gas Shares (the "Listing Permission") has been approved and, accordingly, the China Gas Shares have been allotted and issued pursuant to the Share Purchase Agreement.

The 184,119,463 China Gas Shares represent approximately 3.69% of the enlarged issued share capital of China Gas immediately after the issue of the China Gas Shares (the "Enlarged Issued Share Capital of China Gas"). At the date of this announcement, China Gas Group Limited holds 732,446,000 China Gas shares, representing 14.69% of the Enlarged Issued Share Capital of China Gas. China Gas Group Limited is owned as to 50% by Fortune Oil PRC Holdings Limited, one of the Company's wholly-owned subsidiaries. Accordingly, after the issuance of the China Gas Shares, Fortune Oil will be deemed to hold a total of 18.39% of the Enlarged Issued Share Capital of China Gas.

 
 
   For further information please 
   contact 
 Fortune Oil PLC 
  Tee Kiam Poon - Chief Executive     Tel: (+852) 2583 3125 
  Bill Mok - Chief Financial          Tel: (+852) 2583 3120 
  Officer 
 Bell Pottinger 
  Archie Berens                       Tel: (+44/0) 7802 442486 
 

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 the PRC. 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 is listed on the Main Market of the London Stock Exchange with its operational headquarters in Hong Kong.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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