30th Apr 2013 07:55
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 |
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.
Related Shares:
ACE.L