China Res Gas (HKG:1193) Extends Time for ZZ Gas Offers

   Date:2012-02-08

As at 4:00 p.m. on 6 February 2012, valid acceptances under the offers made by China Resources Gas Group (HKG:1193) (CR Gas) on Zhengzhou China Resources Gas (HKG:3928) (ZZ Gas) had been received in respect of 100,000 domestic shares (representing 0.14% of the total issued domestic shares and the rights over the domestic shares) and 47.969 million H shares (representing 87.11% of the total issued H shares and the rights over the H shares), among which, cash consideration is applicable to 100,000 domestic shares and 1.084 million H shares and share consideration is applicable to 46.885 million H shares, the two companies announced.

Together with ZZ Gas shares already owned by CR Gas and parties acting in concert with it immediately before the commencement of the offer period, this results in CR Gas and parties acting in concert with it holding in aggregate 95.28% of the issued share capital of ZZ Gas.

In order to provide more time for independent ZZ Gas shareholders who have not accepted the offers to tender valid acceptance forms, CR Gas decided to extend the closing date of the offers to 20 February 2012.

CR Gas has no right under the laws of the PRC and the Articles of Association to acquire compulsorily the H shares that are not tendered for acceptance pursuant to the H share offer. ZZ Gas may not continue to be subject to the Takeovers Code after the completion of the offers.

ZZ Gas will withdraw its listing of H Shares on the Stock Exchange with effect from 9:00 a.m. on 14 February 2012.



 

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