27th Jun 2013 13:35
27 June 2013
Fortune Oil PLC
("Fortune Oil" or "the Company")
Extension of Final Date for MOFCOM Consent
On 17 December 2012 the Company announced that it and Wilmar International Limited, the 15% shareholder of Fortune Gas Investment Holdings Ltd ("FGIH"), had entered into a conditional contract to sell their entire interest in FGIH to China Gas Holdings Ltd. Completion of the transaction was subject to certain conditions, including regulatory approval from MOFCOM (the anti-monopoly bureau of the Ministry of Commerce of the PRC), being satisfied by 30 June 2013 (or such later date as agreed in writing) (the "Long Stop Date"). Given additional time is required for the fulfilment of the MOFCOM regulatory approval condition, the Company, Wilmar International Ltdand China Gas Holdings Ltd have entered into a supplementary agreement in order to extend the Long Stop Date to 30 September 2013.
For further information please contact:
Fortune Oil PLC Tee Kiam Poon - Chief Executive Bill Mok - Chief Financial Officer |
Tel: 00 852 2583 3125 Tel: 00 852 2583 3120
|
Oriel Securities (Sponsor and broker) Michael Shaw Stewart Wallace
|
Tel: 00 44 207 710 7600
|
BNP Paribas (Financial Adviser) London office: Paul Staples Kenny Yau Hong Kong office: Kenneth Quinn
|
Tel: 00 44 20 7595 1000
Tel: 00 852 2909 8888 |
Pelham Bell Pottinger Archie Berens |
Tel: 00 44 20 7861 3112 |
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 recently started an expansion outside the PRC securing resource projects. Fortune Oil is listed on the Main Market of the London Stock Exchange with its operational headquarters in Hong Kong.
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