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Director's proposed share dealing

30th Apr 2013 07:55

RNS Number : 5609D
Auhua Clean Energy Plc
30 April 2013
 



30 April 2013

AUHUA CLEAN ENERGY PLC

("Auhua" or "the Company")

 

Director's proposed share dealing

 

Auhua Clean Energy plc, the AIM quoted (AIM: ACE) environmental technology group based in the Shandong Province of China, announces that it has been informed that Auhua Holdings Limited, one of its substantial shareholders, has signed a binding term sheet to sell 15,891,250 shares in the Company (representing 25% of the Company's issued share capital) to Byte Power Group Limited ("BPG") for a price equivalent to 25p per share, a premium of approximately 13.6% to the closing midmarket share price on 29 April 2013.

Mr Tham Wai Mun Raphael, the Company's chairman, is interested in 100% of the share capital of Auhua Holdings Limited. Completion of the proposed transaction would result in the percentage of the Company's shares in which Mr Tham is interested reducing from 64.1% to 39.1%.

BPG is an ASX listed company. The proposed transaction is subject to due diligence, funding and regulatory and BPG shareholder approvals. Further details on BPG and the proposed transaction can be obtained from the Australian Securities Exchange (www.asx.com).

Raphael Tham, Chairman of Auhua said: "I remain bullish about the growth and potential of Auhua. I believe this potential transaction will diversify the shareholder base of Auhua and over time will increase liquidity whilst I continue to retain a substantial share interest in the Company. One of Auhua's key long-term objectives is to build an international customer base and I anticipate that this transaction will assist Auhua to access the Australian market for our products and open up new opportunities."

 

Further Enquiries:

Auhua Clean Energy plc

www.auhuacleanenergy.com

 

Raphael Tham

Chairman

 

Tel: +65 9768 6046

[email protected]

Northland Capital Partners Limited

Edward Hutton

Lauren Kettle

 

Tel: +44 (0)20 7796 8800

 

Cardew Group

Shan Shan Willenbrock

Lauren Foster

 

Tel: +44 (0)20 7930 0777

 

 

Notes to Editors:

Auhua Clean Energy is an environmental technology group based in the Shandong Province of Eastern China specialising in the development and application of green energy and energy efficient solar water heating solutions. In particular, the Group is focused on the manufacture and sale of solar energy water heating systems.

Auhua Clean Energy operates through its wholly owned subsidiaries Shandong Auhua New Energy Co., Ltd and Weihua Auhua New Energy Co., Ltd., of which Auhua Holdings Pte Ltd is the intermediate holding company.

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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